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New York & Tri-State  + Chicago & Midwest + Outer  + Finance  | 

Emerald Creek Provides $61M Inventory Loan on LIC Condos

New York City-based bridge lender Emerald Creek Capital has provided a $60,500,000 condominium inventory loan in Long Island City for an undisclosed borrower. SVP Dean Wang originated the financing.

The loan is secured by 84 condominium units totaling 71,519 square feet within a newly constructed 67-story tower. The building is the tallest skyscraper in Long Island City and contains a total of 707,560 square feet with 644,004 square feet of residential condos, 26,830 square feet of retail, and a 36,800 square foot parking garage.

The units covered by the loan range from studios to four bedrooms and are primarily penthouses or located on the upper floors.

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Emerald Creek Capital

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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