CRONHEIM MORTGAGE ARRANGES $7,000,000 FOR

TWO MIXED-USE BUILDINGS IN NEW YORK, NY

New York, NY – At 32 E 31st Street in New York City, Andrew Stewart arranged $3,000,000 for a 52,000 square foot, twelve-story office building with ground and second floor retail located in Upper Chelsea/Midtown Manhattan. The area immediately surrounding the subject property is one of the most densely populated and heavily trafficked areas of New York City, located only three blocks east of Madison Square Garden and New York Penn Station. The loan carries a 15-year term amortized over 25 years at an interest rate of 6.26%.

Andrew Stewart also arranged $4,000,000 for 45 W 21st Street in New York, a 74,425 square foot, six-story retail and office building located between 5th and 6th Avenues. The building is currently 100% occupied by 20 tenants, one of which leases the entire first floor as retail space. The loan carries an 8-year term amortized over 25 years at an interest rate of 6.24%.