Emerald Creek Capital Provides $13.75M Loan for East Village Development Site
Emerald Creek Capital has provided a $13.75 million loan for a development site in the East Village, owned by Station Companies and brokered by Avison Young's Justin Piasecki and Brandon Polakoff.
Emerald Creek Capital has provided a $13.75 million loan for a development site located at 14 2nd Avenue in the East Village. The property spans 22,247 square feet and is owned by Station Companies, a landlord in the New York City area. The loan was brokered by Justin Piasecki and Brandon Polakoff of Avison Young.
The property is currently a development site, meaning that it has not yet been developed and is available for construction. The East Village is a popular neighborhood in Manhattan, known for its trendy bars, restaurants, and nightlife. The area has seen significant development in recent years, with new luxury residential buildings and commercial spaces popping up throughout the neighborhood.
The loan was provided by Emerald Creek Capital, a New York-based lender that specializes in bridge and mezzanine loans for commercial real estate projects. The loan amount of $13.75 million will be used to finance the development of the property.
Jeff Seidler, a principal at Emerald Creek Capital, was the lender on the deal. Dan Vislocky, a principal at Station Companies, was the landlord on the deal. Piasecki and Polakoff of Avison Young were the brokers on the deal.
Overall, the loan provided by Emerald Creek Capital will help finance the development of a prime piece of real estate in the East Village. With the area’s popularity and growth, the property is sure to be a valuable asset for its owner and a great addition to the neighborhood.