$11.5M Loan Secured For 946 Myrtle Ave, Brooklyn, NY Commercial Property

The property involved in the transaction is located at 946 Myrtle Ave, Brooklyn, NY, 11206. It is a mixed-use building comprising 11 residential condominium units and a 20,000 square foot commercial space. The loan amount provided by Emerald Creek Capital for this property is $11,500,000. The residential units range from three to five bedrooms, totaling 21,584 square feet of livable area. The neighborhood of Bedford-Stuyvesant in Brooklyn is known for its historic brownstones and Victorian architecture.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $11,500,000.00
• Market: Brooklyn
• Asset Type: Commercial
• Lender's Rep: ()
• Borrower: Unknown

In April of 2022, Emerald Creek Capital facilitated the $11,500,000 condominium inventory loan for the mixed-use building in Bedford-Stuyvesant. The neighborhood is popular among young families and artists, experiencing growth in new businesses and establishments. The subject property benefits from convenient access to various subway lines, enhancing its appeal to residents and commercial tenants alike.