The property involved in the transaction is an oceanfront retail asset located at 839 Dune Rd, Westhampton Beach, NY. The loan amount for this property is $2,830,000.00. The property spans 14,375 square feet and boasts 80 feet of beach frontage. The sponsor, First Dunes Development 839, LLC, intends to transform the property into a luxurious residence featuring 5 bedrooms, 6 bathrooms, a two-car garage, and a 30-foot swimming pool. The future residence will also include large paneled windows, multiple decks with ocean views, and high-end finishes. Situated near Westhampton Beach Village, the property offers convenient access to top-rated dining options, shops, and entertainment venues.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,830,000.00
• Market: Westhampton Beach
• Borrower: First Dunes Development 839, LLC

In May of 2019, Emerald Creek Capital provided the $2,830,000 acquisition and building loan for the property on 839 Dune Rd in Westhampton Beach, NY. The three-time repeat borrower of Emerald Creek, First Dunes Development 839, LLC, plans to redevelop the property into a luxury residence. The sponsor aims to create a stunning home with spacious rooms, stunning finishes, and breathtaking views of the Atlantic Ocean from multiple decks. The property's transformation will offer a remarkable living experience, further enhancing the appeal of the beachfront location.