Emerald Creek Capital Provides $36M Loan For Condo At 611 W 56th St, New York

The property in question, located at 611 W 56th St, New York, NY 10019, is a development site within the C4-7 zoning district. A $36,000,000 acquisition loan was provided by Emerald Creek Capital for this asset. The site boasts 128,124 square feet of zoning floor area and has D.O.B-approved plans for a 34-story luxury condominium tower. This tower is set to comprise 80 residential units along with ground floor commercial space. Its prime location offers easy access to various Manhattan attractions like Times Square, Central Park, Lincoln Center, Columbus Circle, and a plethora of renowned restaurants and nightlife establishments. Additionally, the property is conveniently close to multiple subway and bus lines, making transportation hassle-free.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $36,000,000.00
• Lender's Representative: Managing Partner, Co-Founder (Emerald Creek Capital)
• Lender: Emerald Creek Capital

Emerald Creek Capital played a pivotal role in the transaction, serving as both the lender and represented by their Managing Partner and Co-Founder. Their expertise in providing the acquisition loan for this prime development site demonstrates their commitment to facilitating significant real estate deals in the New York market.