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411 West 55th Street

Emerald Creek Capital Provides $6.6 Million Loan For Development Site In Hell's Kitchen
FINANCEDDevelopment Site

Emerald Creek Capital Provides $6.6 Million Loan For Development Site In Hell's Kitchen

411 West 55th Street

$6,600,000

Building Size

Asset Type

Development Site

Closing

Nov 24, 2025

AI

The property asset involved in this transaction is a development site located at 411 West 55th Street in Hell's Kitchen, Manhattan. The loan amount secured for this property is $6,600,000, categorized as an acquisition loan.

Summary of transaction details:

The key individuals involved in this deal include brokers James Murad, Adam Hakim, Michael Winter, Evan Brudnicki, and Alexander Korolik, who represent the parties in this transaction. They are affiliated with Ripco, a notable brokerage firm in the real estate market.

Players

James Murad

Ripco

Broker

$3B

vol

63 deals

Broker
Alexander (Xander) Korolik
Verified Badge

Alexander Korolik

Ripco

Broker

$439M

vol

9 deals

Broker
Emerald Creek Capital
Emerald Creek CapitalLender

New York Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.40%

Cash-on-Cash

-0.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93