Emerald Creek Capital Provides $4.7M Loan For 119 Congress St, Brooklyn Commercial Asset

The property involved in the transaction is a 3,375 square foot, three-story townhouse located at 119 Congress St, Brooklyn, NY, 11201. The loan amount secured for this commercial asset was $4,700,000.00 in the Cobble Hill neighborhood of Brooklyn.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $4,700,000.00
• Market: Brooklyn
• Lender: Emerald Creek Capital
• Lender's Representative: Senior Vice President (Emerald Creek Capital)

In July of 2018, Emerald Creek Capital facilitated the $4,700,000 bridge loan for the property, which is set to undergo renovation and expansion to transform into three boutique condominium units totaling 5,828 square feet. The unit mix will include three three-bedroom apartments, a garden level triplex, a 2nd-floor simplex, and a 3rd-floor duplex, each with its own outdoor space and high-end finishes. The prime location of the property in the picturesque Cobble Hill neighborhood is known for its upscale historic residences and boutique shopping options, enhancing the appeal of the upcoming condominium units.