New York – Andrew Stewart and Frank Sullivan of David Cronheim Mortgage Corporation have secured financing of $14,115,000 for four properties located in Eastern New York.

In Rockville Centre, New York, $2,865,000 was arranged for 313 Merrick Road, a 12,841 square foot retail center. The property is occupied by Panera Bread, Palm Beach Tans, and Empire Vision Center. The subject property enjoys an excellent location that benefits from the area’s extensive transportation network. Bus service is available throughout the area, with stops located all along Sunrise Highway. The Long Island Railroad Rockville Centre Station is located less than two blocks from the subject property, providing excellent accessibility for Manhattan commuters and the like. The loan carries a term of 10-years, with one year interest only, followed by a 30-year amortization.

In West Islip, New York, $3,000,000 was arranged for Sequams Colony Shopping Center, a 21,544 square foot property, consisting of one 12,000 and one 9,544 square foot building. The site is improved with an asphalt parking lot, lighting, and general landscaping. The subject property’s 91 parking spaces, including spaces equipped for handicapped access, equate to a ratio of 4.23 spaces per 1,000 square feet of leasable space. The property is currently 100% occupied by nine tenants, which include a mix of national and local retailers, and is anchored by CVS. The loan carries a 10-year term and a 25-year amortization.

In Yonkers, New York, $3,250,000 was arranged for Tanglewood Shopping Center. The subject property consists of a 22,300 square foot retail strip center anchored by CVS and the adjacent 4,850 square foot strip center. The Subject is currently 100% occupied by 16 tenants including the anchor tenant and a Dunkin Donuts, Century 21, video store, salon and local restaurants. Transportation is primarily via personal vehicle, however public transportation is provided by Metro-North Railroad, a division of the Metropolitan Transportation Authority of the State of New York, at the Crestwood, Scarsdale, and Tuckahoe stations, all located within two miles of the Subject. Amtrak also services the area with a station in Bronxville located approximately two and a half miles away. The loan carries a 15- year term and a 15-year amortization.

Finally, in Riverhead, New York, $5,000,000 was arranged for a 45,075 square foot building occupied by The Sports Authority. The tenant is operating under a new, 10-year triple-net lease. The Subject will be shadow-anchored by a freestanding Target store, which is not part of the collateral, but which will share parking and easements with the Subject. The nearest Sports Authority store is located 24 miles east, and the nearest Target store is found approximately 23 miles east. Day-to-day transportation through the market area is almost exclusively provided by private automobile. The loan carries a 10-year term and is amortized over 25 years.