Emerald Creek Capital, a commercial bridge lender, has provided $11,800,000 of bridge financing in Long Island City.
The loan is secured by the subject property, a two-story commercial building situated on a 28,091 s/f corner lot with 46,350 s/f of net rentable area. Consisting of a mix of warehouse and office space, the building is currently leased to various tenants including television and media studios, a car dealership, and a limousine service business. The subject property occupies an entire block and benefits from a favorable location off Northern Boulevard, one of the area’s most trafficked commercial corridors.
Financing was originated by Emerald Creek Capital Managing Director Mike Cleaver and Vice President Matt Fantuzzi.