6A — October 12 - 25, 2018 — Financial Digest — M id A tlantic

Real Estate Journal


F inancial D igest

EWBURGH , NY — Cronheim Mort- gage secured $27 Loan was placed with American General Life Insurance Co. and The US Life Insurance Co. Cronheim Mortgage secures $27m 15-year loan for 504,875 s/f leased C&S Facility N

1918 as an independent grocer supplier, they are now listed as #10 on Forbes America’s Largest Private Companies List. The building features ceiling heights of 40 feet, one drive-in dock, and 89 tailgate loading docks. It is situated on a 50.51-acre site and contains parking for 250 automobiles and 360 trailers. The property was originally constructed in 1990 and served as the main warehouse for the now defunct Caldor Corporation. The property is ideally lo- cated near the intersection of Interstate 84 and the New York Thruway (Interstate 87), and is situated 55 miles north of New York City, accessible via the New York Thruway. Less than 1/3 of a mile from the Subject is New York Stew- art International Airport, which served nearly 450,000 commercial airline passengers in 2017, and Stewart Air Na- tional Guard Base.  Progress Capital negotiates $4.157m construction loan BROOKLYN, NY — Rep- resenting MADDD Equities, Brad Domenico , partner story mixed-use buildings located at 139-141 Alexander Ave. in the Mott Haven section of South Bronx. Each of the three buildings will include seven luxury residential units and one single ground level retail space. Domenico arranged the loan with an initial 18-month in- terest-only period during con- struction. After the interest- only period the loan converts to a seven-Year permanent mortgage based on a 30 year amortization. Progress Capital is a Com- mercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners and residential devel- opers. Since 1990, Progress has successfully closed in ex- cess of $40 Billion in commer- cial loans and deployed over $150 Million through their direct lending platform.  Brad Domenico at Progress Capital , ne- g o t i a t ed a $4 , 157 , 000 construction to permanent loan for the development of three at- tached four-

million in long-term financ- ing for a 504,875 s/f warehouse facility located in Newburgh, Orange County. The loan was structured on a 15/27 basis and was placed with American General Life Insurance Com- pany and The United States Life Insurance Company in the City of New York, whom Cronheim represents as cor- respondent and servicer. The borrower is an affiliate of Purchase, NY-based National Realty & Development Corp.,

504,875 s/f warehouse facility located in Newburgh, Orange County, NY

a CRE industry leader. The subject is fully leased to C&S Corporation, a U.S. based wholesale grocery sup-

ply company who has been the sole tenant for over 20 years. C&S is the NY metro area market leader in wholesale

grocery delivery, supplying over 850 area stores (over 14,000 in total) of various grocery brands. Founded in

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