CRONHEIM MORTGAGE ARRANGES $5,100,000

FOR FLEX PROPERTY IN NEW YORK

Bay Shore, NY David Turley and Lisa McMahon of David Cronheim Mortgage Corporation have secured financing of $5,100,000 for the acquisition of the Air Industries building, a warehouse/flex space property in Bay Shore, New York. The loan represented 80% of the purchase price.

Founded in 1969, Air Industries is a manufacturer and distributor of aerospace bolts, screws, and fasteners. In addition, Air Industries works with a number of other customers, including the US Government, on various programs. The subject is a three-building, 75,421 square foot warehouse/flex property. Two of the buildings consist of 20% of office space, while the third has 10% office space. These facilities include a dedicated machine shop with eighteen principal N/C machining centers, an integration center housing quality, assembly and traffic operations, and an administrative area co-located with our warehouse facility. The property is located less than a mile away from the Heckscher Parkway, the eastern extension of the Southern State Parkway, a major east/west route for the south shore of Long Island.