Emerald Creek Capital Provides $3.3M Loan For Mixed-Use Property In Long Island City

The property asset involved in the transaction is a mixed-use building located at 4243 27th St, Queens, NY, 11101, within the Long Island City market. The building consists of a newly constructed 6-story structure with an above-grade area measuring 7,181 square feet. It incorporates seven 1 and 2-bedroom apartments along with a 1,459 square foot commercial space situated on the ground floor.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $3,300,000.00
• Address: 4243 27th St, Queens, NY, 11101
• Market: Long Island City
• Lender: Emerald Creek Capital
• Lender's Representative: Senior Vice President of Emerald Creek Capital

This transaction highlights key players in the deal, including Emerald Creek Capital as the lender and their Senior Vice President, who represented the lending side in this bridge loan arrangement. The loan is secured by the property, which benefits from its advantageous location in the Hunters Point neighborhood, known for its appeal to young professionals due to its proximity to Midtown Manhattan and access to multiple subway lines.