Cronheim Mortgage arranges $5 million for 52,000 s/f office building in Manhattan

April 02, 2019 - Front Section

Manhattan, NY Cronheim Mortgage secured $5 million in financing for 32 East 31st St. The 20-year loan amortizes over a 30-year schedule for the borrower, 32 East 31st Street Corp. Cronheim acted as corresponding agent and servicer for CMFG Life Insurance Co.

32 East 31st St. is a 12-story, 52,000 s/f office building with first-floor retail. The subject is located at the corner of Madison Ave. and 31st St. in Midtown South, one of the most densely populated and heavily trafficked areas of the city, which is only three blocks east of Madison Square Garden and New York Penn Station.

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