VALLEY STREAM, NY – David Turley, Andrew Stewart and Frank Sullivan of David Cronheim Mortgage Corporation have secured financing of $17,000,000 for 70 E Sunrise Highway, a 155,841 square foot Class-A office building located along East Sunrise Highway in Valley Stream, New York. The loan was placed for a 10-year term and has a 25-year amortization. Cronheim acts as loan servicer as well as correspondent for the transaction.

Construction consists of a six-story masonry structure, comprised of a three-level parking deck, beneath a three-story office building. The parking structure parks over 625 cars and provides direct interior access to the building. Relative to competing office product in the sub-market of Long Island, a parking ratio of 4 covered parking spaces per 1,000 rentable square feet represents a clear advantage in such a parking supply-constrained market.

Other building amenities include a six-story central atrium with a skylight that offers tenants exposure to natural sunlight from interior offices. Recently the subject exterior has undergone a facelift, with the application of a new stucco façade. Since its construction in 1984, the Subject has been impeccably maintained and has benefited from substantial investment in common areas.

Sunrise Highway provides easy access to the Belt Parkway, and then I-678 which feeds both I-495 and I-278. John F. Kennedy Airport is just 3.3 miles southeast of the Subject and LaGuardia Airport is 10.7 miles to the northwest. Within 2 miles of the Subject there are 7 LIRR stations.