Recent Transactions

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brooklyn brownstone real estate financing

May 2022

$2,500,000 – Brooklyn, NY (Clinton Hill)

In May of 2022, Emerald Creek Capital provided a $2,500,000 bridge loan in the Clinton Hill neighborhood of Brooklyn, NY. The loan is secured by a newly renovated, two-unit brownstone townhouse with 3,400 square feet of net rentable area and a 3,712 square foot cellar. The upper two floors contain a three-bedroom, two-bath duplex apartment, while the lower two floors and cellar are a triplex with three bedrooms, two and one-half baths, a large recreation room, and a large rear yard with a deck. Both units have high-end finishes and fixtures throughout. Clinton Hill is a desirable residential area in central Brooklyn, with a historic district and eclectic mix of architectural styles. The subject property is located two blocks from the Pratt Institute and is accessible by the A, C, and G subway lines.

 

For more information, please contact:

 

Mike Cleaver, Managing Director
(212) 239-6845
mcleaver@emeraldcreekcapital.com

bushwick condominium development financing brooklyn

May 2022

$4,125,000 – Brooklyn, NY (Bushwick)

In May of 2022, Emerald Creek Capital provided a $4,125,000 bridge loan in the Bushwick neighborhood of Brooklyn, NY. The loan is secured by a new 10-unit condominium development situated on a 4,000 square foot lot. The subject property is near completion and has a unit mix of studio, 1-bedroom, and 2-bedroom apartments. The residences have high quality finishes, custom cabinetry, and floor-to-ceiling windows. The 4th floor features a private roof deck. Bushwick is vibrant residential area neighboring Williamsburg that is popular among young professionals and artists. Dozens of art studios and galleries are scattered throughout the neighborhood, in addition to many parks, restaurants, shops and businesses. The subject property is accessible by the J, Z, and L subway lines.

 

For more information, please contact:

 

Matt Fantuzzi, Vice President
(646) 237-2570
mfantuzzi@emeraldcreekcapital.com

Check out our interactive map for a comprehensive look at our nationwide lending activity.

 

May 2022

$5,400,000 – Savannah, GA

In May of 2022, Emerald Creek Capital provided a $5,400,000 acquisition loan in Savannah, GA. The loan is secured by 6.7-acre multi-tenant industrial property with 48,000 square feet of existing warehouse and cold-storage space. The subject property is located three miles from the Port of Savannah, the third largest seaport in the United States and a major demand generator for warehouse, cold storage, and industrial outdoor storage space. The subject property is also just minutes from downtown Savannah and benefits from proximity to the Savannah/Hilton Head International Airport and Interstate 95.

For more information, please contact:

 

Jeff Seidler, Managing Director
(212) 239-6517
jseidler@emeraldcreekcapital.com

 

Check out our interactive map for a comprehensive look at our nationwide lending activity.

 

April 2022

$11,500,000 – Brooklyn, NY (Bedford-Stuyvesant)

In April of 2022, Emerald Creek Capital provided a $11,500,000 condominium inventory loan in the Bedford-Stuyvesant neighborhood of Brooklyn, NY. The loan is secured by 11 residential condominium units and a 20,000 square foot commercial space within a newly constructed mixed-use building. The high-end residential units range from three to five bedrooms and combined encompass 21,584 square feet of livable area. Bedford-Stuyvesant is a large residential neighborhood in central Brooklyn known for historic brownstones and Victorian architecture. While becoming increasingly popular among young families and artists, the community continues to attract new restaurants, shops, and other businesses. The subject property benefits from access to the G, J, M, and Z subway lines.

 

For more information, please contact:

Matt Fantuzzi, Vice President
(646) 237-2570
mfantuzzi@emeraldcreekcapital.com

 

Check out our interactive map for a comprehensive look at our nationwide lending activity.

 

April 2022

$13,300,000 – Miami Beach, FL

In April of 2022, Emerald Creek Capital provided a $13,300,000 acquisition loan in Miami Beach, FL. The loan is secured by an 8,896 square foot commercial condo unit 100% occupied and NNN-leased to CVS. The subject property features brand new built-to-suit construction and is split across two levels, with 7,551 square feet on the ground floor and 1,345 square feet on the mezzanine level. Located one block from the beach on Miami’s infamous Collins Avenue, the subject property benefits from a bustling, high traffic location ideal for grade-level retail. Miami Beach is a vibrant neighborhood and vacation destination offering an abundance of top-rated restaurants, nightlife and shopping among the many beachside hotels. The subject property is conveniently accessible by Route 195.

 

 

For more information, please contact:

 

Matt Fantuzzi, Vice President
(646) 237-2570
mfantuzzi@emeraldcreekcapital.com

 

Check out our interactive map for a comprehensive look at our nationwide lending activity.

 

April 2022

$3,500,000 – Yonkers, NY (Westchester County)

In April of 2022, Emerald Creek Capital provided a $3,500,000 acquisition loan to a repeat borrower in the city of Yonkers, NY. The loan is secured by a 2-story, 56,000 square foot warehouse building on a 37,897 square foot corner lot. Located at the intersection of two major avenues, the site benefits from 300 feet of highly visible frontage. The sponsor plans to redevelop the property into an 88,830 square foot, state-of-the-art self-storage facility. Yonkers is the third-largest city in New York, situated 15 miles north of Manhattan along the Hudson River waterfront. The subject property is located off Route 9 and one mile from the Ludlow Metro North Station providing access to Grand Central.

 

 

April 2022

$5,000,000 – Eastchester, NY (Westchester County)

In April of 2022, Emerald Creek Capital provided a $5,000,000 bridge loan in the town of Eastchester, NY in southern Westchester County. The loan is secured by a mixed-use retail and office building with 15,500 square feet of net rentable area. The subject property is 100% occupied, anchored by Montefiore Medical Center which occupies 5,500 square feet of ground floor medical office space. There are 35 parking spaces on the 27,878 square foot corner lot, which has three frontages and great visibility. Eastchester is a highly desirable, affluent suburb of New York City with many restaurants, shops, parks, and highly rated schools. The subject property is located directly on State Highway Route 22, and is in close proximity to the Hutchinson and Bronx River Parkways. Walking distance from the subject property is the Crestwood Metro‐North train station which provides access to Grand Central Station in Midtown Manhattan.

 

For more information, please contact:

 

Jeff Seidler, Managing Director
(212) 239-6517
jseidler@emeraldcreekcapital.com

chelsea mixed-use apartment building loan

April 2022

$4,655,000 – New York, NY (Chelsea)

chelsea mixed-use apartment building loan

In April of 2022, Emerald Creek Capital provided a $4,655,000 acquisition loan in the Chelsea neighborhood of New York, NY. The loan is secured by a 3,828 square foot site with 27.5 feet of frontage currently improved with two buildings totaling 8,342 square feet. The sponsor plans to redevelop the property to maximize the zoning floor area of 21,906 square feet. As one of Manhattan’s most desirable and centrally located neighborhoods, Chelsea continues to see restoration and redevelopment of its many brownstones in addition to new development of luxury condominiums and office spaces. The area is a destination for art, shopping, restaurants, and nightlife. The subject property is located minutes away from Chelsea Market and the High Line, and benefits from access to the A, C, E, L, 1, 2, 3, F, and M subway lines.

For more information, please contact:

Mike Cleaver, Managing Director
(212) 239-6845
mcleaver@emeraldcreekcapital.com

Check out our interactive map for a comprehensive look at our nationwide lending activity.

April 2022

$6,500,000 – Brooklyn & Queens, NY

In April of 2022, Emerald Creek Capital provided a $6,500,000 non-revolving line of credit secured by five commercial properties across Brooklyn and Queens, NY. Located in the neighborhoods of Williamsburg, Bushwick, and Ridgewood, the collateral includes two mixed-use buildings, a multifamily dwelling, and two development sites. The existing portfolio includes approximately 12,500 square feet of gross building area.  The zoning floor area of the development sites exceeds 15,000 square feet. These low density neighborhoods are a hub for the arts community and have evolved into vibrant neighborhoods. The subject properties are located in close proximity to the L, G, and M subway lines.

 

For more information, please contact:

 

Jeff Seidler, Managing Director
(212) 239-6517
jseidler@emeraldcreekcapital.com

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