Station Companies gets $13.8M construction loan from Emerald Creek in East Village

Station Companies through the entity Station 14 2nd Avenue LLC as borrower signed a loan agreement with lender Emerald Creek Capital 3, LLC valued at $13.8 million for 1 parcel, including the tax class miscellaneous open space (Z9) at 14 2nd Avenue in East Village. The deal closed on September 18, 2020 and was recorded on October 1, 2020.

The loan is composed of a $10.2 million building loan and a $3.6 million project loan. Daniel Vislocky, managing parter  of Station Companies was the signatory for the borrower. The last time the property sold was October 24, 2018, for $7,000,000, when Station bought the property out of Chapter 11 bankruptcy.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 16,366 square feet. Those plans include a total of 10 residential or hotel units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link