Emerald Creek Provides $55M Loan for Historic Tammany Hall Building in Manhattan

NEW YORK CITY — Emerald Creek Capital has provided a $55 million bridge loan for the historic Tammany Hall building in the Union Square area of Manhattan. The 73,113-square-foot building recently underwent an $85 million capital improvement program. Jeff Seidler of Emerald Creek originated the financing. Egor Petrov of Estreich & Co. served as the financial intermediary on behalf of the borrower, a subsidiary of Reading International Inc., which will use the proceeds to refinance existing debt and fund tenant improvements.