Emerald Creek Capital Funds $3,800,000 Bridge Loan in Manhattan, NY

NEW YORK, April 9 /PRNewswire/ -- Emerald Creek Capital (www.emeraldcreekcapital.com), a private equity fund specializing in bridge loans has recently funded a $3,800,000 loan in Manhattan, NY.  The property, a 7,000 SF historic brownstone located in Manhattan's West Village, currently houses two tenants.  The loan enabled the borrower to satisfy the expired mortgage as well as cash out additional proceeds.  

Feeling pressure from the bank to satisfy his debt, the borrower came to Emerald Creek for a quick closing.  Emerald Creek Capital performed its due diligence and approved the loan within 3 weeks.  Managing Partner Mark Bahiri explains, "Although the economy has started to improve, commercial banks are still very hesitant to lend their capital even on trophy assets like this."

With its headquarters in Manhattan, Emerald Creek Capital (www.emeraldcreekcapital.com) is filling the gap created by the frozen credit markets. The firm provides short-term loans secured by commercial real estate to borrowers who are experiencing liquidity constraints, as well as to those who are looking to capitalize on opportunities that have arisen within the commercial real estate market.

Website:  http//:www.emeraldcreekcapital.com

SOURCE Emerald Creek Capital