NATIONAL FOOTPRINT

Backed by a century’s worth of knowledge and expertise, Cronheim Mortgage provides a vast array of real estate services, including debt and equity for investment grade real estate. By leveraging the strong correspondent and/or servicing relationships we have cultivated with our institutional investors, including many insurance companies, we have continuously had access to substantial debt and equity capital to invest in quality real estate at pricing well below alternative sources, especially for long-term debt. We stand out from our competitors with our strong debt servicing portfolio, currently in excess of $2,000,000,000.  Moreover, through our Channel Real Estate Funds affiliate, we have efficiently and cost-effectively provided mezzanine and equity capital for numerous real estate assets. We have placed debt/equity and serviced in 30 states, and continue to capitalize on new opportunities.

REPRESENTATIVE TRANSACTIONS

To view more of our hospitality representative transactions, please visit our hospitality branch, CRONHEIM HOTEL CAPITAL, at http://www.chccapital.com/

The Carlyle - Hackensack, NJ

Updated: Sep 12, 2018


Andrew Stewart and Allison Moravec secured $18 million in financing for the Carlyle, a 128 unit, 13-story apartment building located in Hackensack, Bergen County, New Jersey. The three year loan was structured with fixed rate of 2.65% and flexible prepayment structure for the borrower, Emay Equities LLC & Colony Realty Associates.

The subject property was constructed in 1976 along Prospect Avenue, the prime location for mid- and high-rise multifamily in the city of Hackensack. The property features 89 one-bedroom units which range in size from 780 square feet to 810 square feet and 39 two-bedroom units which encompass approximately 1,035 square feet. On-site parking is available for 200 vehicles at a ratio of 1.5 per apartment. There is a three level underground lot which was recently renovated and has capacity for 136 vehicles and a surface lot with 64 uncovered spaces. The property’s amenities and services include a 24 hour doorman and concierge, heated swimming pool, recently renovated fitness center, package receiving, and onsite laundry and storage facilities. There are New York City views from the eastern side of the building.

 

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