Emerald Creek Capital Provides $7M Loan For 298 Metropolitan Ave Mixed-Use, Brooklyn

Located at 298 Metropolitan Ave in Brooklyn, NY, this mixed-use property secured a $7,000,000 refinance provided by Emerald Creek Capital in April 2017. The loan was backed by a 100% stabilized building spanning 10,457 SF and structured as a non-revolving line of credit, enabling the borrower to leverage the property's equity for other investment opportunities. Situated in Williamsburg, a sought-after residential neighborhood near the waterfront and Manhattan, this asset offers prime accessibility and market potential.

Summary of transation details:

• Property Type: Mixed-use
• Transaction Amount: $7,000,000.00
• Market: Brooklyn
• Lender: Emerald Creek Capital
• Lender's Rep: Mike Cleaver, Managing Director
• Contact Information:
  • Phone: (212) 239-6845
  • Email: [email protected]
  • Addresses:
    • 575 Lexington Ave, 31st Floor, New York, NY 10022
    • 3801 PGA Blvd, Suite 600, Palm Beach Gardens, FL 33410
    • 601 Chadds Ford Drive, Suite 200, Chadds Ford, PA 19317
    • 101 Federal Street, Suite 1900, Boston, MA 02210

The borrower leveraged the 100% stabilized mixed-use building at 298 Metropolitan Ave, Brooklyn, NY, to secure a $7,000,000 refinance through Emerald Creek Capital, highlighting the strategic maneuver to capitalize on market opportunities. Mike Cleaver, the Managing Director at Emerald Creek Capital, facilitated this transaction, underscoring the importance of professional representation in real estate financing deals.