|
CRONHEIM MORTGAGE ARRANGES $6,955,000 FINANCING FOR
MULTIFAMILY PROPERTIES IN NEW JERSEY AND
PENNSYLVANIA
NJ and PA – David Cronheim
Mortgage Corporation has secured financing of $6,955,000 for four multifamily
properties located throughout New Jersey and
Pennsylvania.
Cronheim provides a low-cost loan program that offers attractive rates for small
loans ranging between $300,000 and $2,000,000 for multifamily and mixed-use
properties.
In New Brunswick, New
Jersey, $1,580,000 was arranged for a 3-story, 18-unit
apartment building located at 175
Remsen Avenue.
The property was constructed in 2002 and contains off-street parking for
10 vehicles. The loan has a
five-year term and 30 year amortization.
In Asbury Park, New Jersey,
$975,000 was arranged for a three-story, 20-unit
multifamily building, while in Irvington, NJ,
$1,040,000 was arranged for a 28-unit property located at
6 Sharon Avenue.
In
Hoboken,
New Jersey, $800,000 was arranged for
807 Garden
Street, an 8-unit apartment building. The loan has a
term of 5 years amortized over 25 years.
In Red Bank, NJ, $2,000,000
was arranged for Shrewsbury Manor, a 59-unit property located at
66-72 Riverside
Avenue.
Finally, in Philadelphia, Pennsylvania, $560,000 was arranged for a
9-unit apartment building located at 906 Spruce Street. The loan has a 10-year term and 30 year
amortization.
|
