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Posted: October 18, 2016
Wang of Emerald Creek Capital originates $15.2 million bridge loan for boutique hotel development
8-12 Maiden Lane - Manhattan, NY
Dean Wang, Emerald Creek CapitalManhattan, NY Emerald Creek Capital originated a $15.2 million bridge loan.
The subject property is two adjacent lots totaling 5,062 s/f located at 8-12 Maiden Ln. in the Financial District.
After development, the subject property will be a 75,467 s/f, 192-key boutique hotel.
The loan was originated by Dean Wang.
Emerald Creek Capital is a direct portfolio lender originating commercial bridge loans. We provide short-term financing secured by a 1st mortgage on commercial real estate. Our open-door lending platform allows us to deliver fast and flexible loans tailored to the specific needs of each client. Capital is available for acquisitions, refinances, repositioning and other market driven opportunities. The present economic environment highlights the need for non-traditional lenders. With many banks inhibited by governmental oversight, borrowers are finding it more and more challenging to find credit. In contrast, Emerald Creek’s loan product is fast, flexible and provides certainty of execution. It has proven to be a more attractive path for many qualified sponsors.
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