$9M Loan Secured For Mixed-Use Property At 3116 Clarendon Rd, Brooklyn

The acquisition loan for the property located at 3116 Clarendon Rd, New York, NY, 11203, in the Brooklyn market, amounted to $9,000,000.00. The loan, provided by Emerald Creek Capital in June of 2022, is secured by a newly constructed 7-story mixed-use apartment building with 19,148 square feet of gross buildable area. The building comprises 22 high-quality apartments with private balconies above a 3,200 square foot educational facility. Amenities include a roof deck, lounge, game room, and parking.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $9,000,000.00
• Address: 3116 Clarendon Rd, New York, NY, 11203
• Market: Brooklyn

The borrower of the $9,000,000 acquisition loan for the mixed-use property in Brooklyn, NY is an entity known as Unknown LLC. The property is strategically located in the vibrant Flatbush neighborhood, known for its array of restaurants and businesses, and its proximity to various cultural and recreational assets like Prospect Park, the Brooklyn Botanic Garden, and the Brooklyn Museum of Art. Additionally, the property benefits from easy accessibility via the nearby 2 and 5 subway lines.