$27M Loan Closed For Mixed-Use Property On Sullivan St In New York

The loan amount of $27,000,000.00 was provided by Emerald Creek Capital in July of 2021 for two mixed-use buildings located at 73 Sullivan St, New York, NY, 10012. These buildings have a combined buildable area of 43,549 square feet. The first building is 8 stories high and features 11 high-end apartments with a shared roof deck, situated above a school occupying the first and second floors. The second building is a 6-story structure with 22 newly renovated apartments above 2 retail units on the first floor. Both properties are located in the SoHo neighborhood, known for its luxury apartments, high-end retailers, boutiques, and art galleries. Additionally, they are conveniently accessible by various subway lines including the 4, 6, A, C, E, B, D, F, and M.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $27,000,000.00
• Address: 73 Sullivan St, New York, NY, 10012
• Market: New York
• Lender's Rep: ()
• Borrower: Unknown

In this transaction, the borrower for the $27,000,000.00 bridge loan remains undisclosed. The SoHo neighborhood, where the properties are located, is famous for its upscale residential offerings and vibrant commercial scene. The lender in this deal, Emerald Creek Capital, specializes in providing bridge loans and other real estate financing solutions. The unique mix of residential and commercial spaces in the two buildings secured by this loan highlights the diverse investment opportunities available in the sought-after SoHo area of Manhattan.