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656 Lexington Ave, New York...

Updated Mar 11, 2025

Emerald Creek Capital Arranges $5M Loan For Mixed-Use Property In New York
FINANCEDMixed-use

Emerald Creek Capital Arranges $5M Loan For Mixed-Use Property In New York

656 Lexington Ave, New York, NY, 100...

$5,000,000

Building Size

—

Asset Type

Mixed-use

Closing

Nov 20, 2023

About this deal

AI

Located at 656 Lexington Ave in New York, NY, this mixed-use property secured a $5,000,000 bridge loan in April of 2021. The site spans 4,410 square feet with 133 feet of frontage and offers 52,928 square feet of buildable area. Situated in the bustling Midtown East neighborhood, the property features a two-story building with five ground-floor retail spaces and a medical therapy center on the second floor.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $5,000,000.00
  • Market: New York
  • Lender's Rep: Senior Vice President (Emerald Creek Capital)
  • Borrower: Unknown

The loan for this prime property was provided by Emerald Creek Capital, with Matt Fantuzzi, the Vice President, as a contact person for further information. The property's strategic location in Midtown East, known for its concentration of office buildings, retail establishments, and residential towers, positions it well for future development to maximize the available buildable area. Midtown East is also home to iconic structures like the Chrysler Building and the United Nations, offering accessibility to various transportation options, including subway lines and the Metro-North Railroad at Grand Central Terminal.

On the Map

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$5,000,000

Mixed-use

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Players

Matt Fantuzzi

Emerald Creek Capital

Broker

$114.3M

vol

14 deals

Broker
Emerald Creek Capital
Emerald Creek CapitalLender
Emerald Creek Capital
Emerald Creek CapitalLandlord
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New York Mixed-use Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.17%

Cash-on-Cash

-0.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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