Fabio of GNYDC finances $1.498m SBA 504 loan for Bronx property

The Greater New York Development Co. (GNYDC) assisted this month in the financing of over 32,093 s/f of commercial real estate in Bronx and Queens. Carmine Fabio, senior vice president, lending, financed C&R Food Corp., d/b/a/ Fine Fare, supermarket. They received a $1.498 million SBA 504 loan as part of a $4.325 million financing package to purchase and expand their business of 30,200 s/f, at 708-16 East Tremont Ave., Bronx, a major commercial artery in the area and densely populated. Charles Schreiber, vice president lending, financed Law Offices of Joe Zhenghong Zhou and Associates, a law office catering to an Asian client base. They received a $775,000 SBA 504 loan as part of a $1.517 million financing package to purchase a new office condominium unit of 1,893 s/f, at 136-30 38th Ave., in the Flushing neighborhood of Queens.