Emerald Creek Capital Provides $3.1M Loan For 69 Underhill Ave Mixed-Use In Brooklyn

The property asset involved in this transaction is a mixed-use building located at 69 Underhill Ave, Brooklyn, NY, 11238. The asset encompasses 7,180 square feet and is situated on a 3,933 square foot corner lot. The building features two 2-bedroom apartments, two 3-bedroom apartments, and three ground floor retail units, and it benefits from 128 feet of combined frontage on Underhill Avenue and Bergen Street within the Brooklyn market.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $3,100,000.00
• Lender: Emerald Creek Capital
• Lender's Representative: Senior Vice President

In May of 2018, a bridge loan was provided for refinancing purposes in the Prospect Heights neighborhood, which is known for its accessibility to multiple subway lines including the 2, 3, S, C, B, and Q lines. The area is also home to notable locations such as the Brooklyn Botanical Gardens, Brooklyn Museum, and Barclays Center Arena.