Emerald Creek Capital Provides $9M Loan For Development Site At 214 W 74th St, New York

The property involved in this transaction is a development site located at 214 W 74th St, New York, NY 10023. It consists of a 2,554 square foot area with a total of 30,648 square feet of buildable space. The existing structure is a five-story mixed-use building, encompassing 8,324 square feet. The borrower intends to convert this site into a 20-unit condominium building with ground-floor retail. The location benefits from proximity to major attractions and access to multiple subway lines.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $9,000,000.00
• Address: 214 W 74th St, New York, NY, 10023
• Market: New York
• Lender: Emerald Creek Capital
• Lender's Representative: Managing Partner, Co-Founder - Emerald Creek Capital

This transaction highlights the involvement of Emerald Creek Capital, which provided the acquisition loan. The firm specializes in financing developmental projects and plays a significant role in the real estate market of New York, particularly in areas like the Upper West Side known for its vibrant community and retail opportunities.