CRONHEIM MORTGAGE ARRANGES $11,000,000 FOR

OFFICE BUILDING IN NEW YORK, NY

New York, NY – Bruce Theuerkauf arranged $11,000,000 for 1270 Broadway Avenue in New York, a 14-story, 100,165 square foot, Class B office building with ground level retail, on 8,525 square feet of land. Located at the intersection of West 33rd Street and Broadway Avenue, the ground floor features retail space, the lobby entrance, and a service/freight entrance located on West 33rd Street. Duane Reade occupies 5,800 square feet of space on the ground floor and mezzanine, with an additional 7,000 square feet in the basement. Office space is located on the 2nd through 14th floors, with a typical floor size of 7,937 square feet. The loan has a 5-year term amortized over 30 years. The financing went from start to finish in less than 30 days.