Emerson Hospitality announces acquisition and redevelopment of Black Creek Barns

• An outdoor cliffside pool, retail and exhibition spaces, and extensive walking trails
• Family and pet-friendly amenities, including firepits, a children’s ramble, and a dog run

“Black Creek Barns is a once-in-a-generation opportunity to create a destination shaped by history, landscape and community,” said Jordan Goldberg, Principal and CEO of Emerson Hospitality. “It is a privilege to work with the Town of Esopus to reimagine this historic campus as a resort and gathering place that combines craft, nature, wellness, and hospitality in a completely new way for the Hudson Valley.”

Emerson’s leadership team brings deep expertise across hospitality operations, creative placemaking, and culinary-driven development, led by Thomas Lunsford, Chief Operating Officer, a veteran hotel operator and former general manager of iconic hotels including 11 Howard, Gramercy Park Hotel, and NoMad NYC; Josh Nissenboim, Head of Creative, co-founder of Fuzzco with extensive experience in brand, experiential marketing, and adaptive reuse projects; and Alex and Adam Saper, recognized for bringing Eataly to major U.S. markets and developing culturally rich, food-forward destinations. Together, their vision and expertise will guide the creation of truly unique and curated experiences at Black Creek Barns.

The redevelopment is supported by a $38 million financing structure, which was arranged by IPA Capital Markets and includes:

• A $19 million construction loan from The LCP Group
• A $19 million C-PACE facility from Imperial Ridge Real Estate Capital and PACE Loan Group

“Jordan and the Emerson team have the vision and expertise to create something truly special,” said Mark Boyer, CEO of Imperial Ridge. “Black Creek Barns will deliver a best-in-class experience and become a remarkable asset to the Hudson Valley.”

“Black Creek Barns demonstrates the versatility of C-PACE financing,” said Rafi Golberstein, CEO and Founder of PACE Loan Group. “By partnering alongside The LCP Group and a strong sponsor, we were able to support both the construction and rehabilitation of this historic property.”

“Emerson Hospitality has a transformative vision for this estate, and our role was to structure a capital stack that made it achievable,” said Jordan Ray, Executive Managing Director, Capital Markets at IPA. “C-PACE financing provided the flexibility to lower the cost of capital while securing terms aligned with the project’s long-term success, and LCP delivered flexible senior capital to complete the financing.”

“Adaptive reuse and a hotel project of this nature require experienced sponsorship and a lender that is comfortable underwriting the operational complexity,” said Francis Lively, CEO of The LCP Group. “Emerson has a clear vision and the operating depth to execute it, and we were pleased to provide construction financing structured to support both the asset’s heritage and its evolution into a best-in-class asset.”