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 Capital

Manhattan, 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.

Tags: Brokerage

Reprint

Previous Story Next Story

Investment Property Realty Group closes $2.65 million sale of 723 6th Ave. in Greenwood Heights

Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 723 6th Ave., a mixed-use building located in the Greenwood Heights section of the city, for $2.65 million.

CM&B completes 15,000 s/f Activate Games NYC debut in Union Square

Investment Property Realty Group closes $2.175 million sale of 247 Leonard St.

IPRG closes $2.175m sale of 247 Leonard St.

GFP Real Estate continues leasing momentum at 322 Eighth Ave. with 9,952 s/f of transactions

GFP continues leasing momentum at 322 Eighth Ave.

Zimmet Law Group signs 5,476 s/f lease at GFP Real Estate’s 515 Madison Ave.

Zimmet Law signs 5,476 s/f lease at GFP’s 515 Madison Ave.

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

1540 Broadway signs 226,500 s/f of leasing as repositioning drives demand

Columns and Thought Leadership

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking