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/

Victoria Gardens - Monsey, NY

Updated: Sep 12, 2018


Dev Morris and Andrew Stewart have arranged financing totaling $8.5 million for a Monsey, NY garden apartment complex. The 10-year loan has an interest rate of 3.10% and was placed with Voya Insurance and Annuity Company, whom Cronheim represents as correspondent and servicer.

The Subject is located at 69-P Edison Court and was constructed in 1973. It encompasses 13 buildings and 328 apartment units available in one-, two-, and three-bedroom layouts. Each apartment contains hardwood floors, air conditioning, large walk-in closets, and a patio, deck, or balcony.

According to Andrew Stewart, “When it comes to apartments, Voya, as well as our other insurance company correspondents, are some of the best sources for long-term fixed-rate financing. We can lock rate quickly and close without red tape.”

The subject property is located off of State Route 306 in Monsey, Rockland County, New York, a hamlet of the town of Ramapo. The south town line is the border of New Jersey, and the west town line is the border of Orange County. The property is conveniently located near the New York State Thruway and Interstate 287, two heavily travelled highways, as well as State Route 17 and the Palisades Interstate Parkway. Located in one of New York’s steadily increasing multifamily submarkets, the Hudson Valley market in the southeast quadrant of New York, the subject is less than 40 miles north of New York City.

 

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