Cronheim Mortgage Arranges $51.3M for Staten Island Retail Properties

NEW YORK—Cronheim Mortgage’s Lisa McMahon, Dev Morris and Andrew Stewart have arranged permanent financing in the amount of approximately $51.3 for two retail centers located in the Great Kills and Arden Heights neighborhoods of Staten Island. The fixed-rate loans were structured with a 10-year term and amortize over 30 years for the borrowers, NBM Realty Holding LLC and Village Greens Shopping Center LLC.

The first property, Evergreen Shopping Center, is an 89,330-sq.-ft., grocery store-anchored center. The center contains a 61,750-sq.-ft. Pathmark anchor store and includes Dunkin Donuts, UPS Store, Capital One Bank and other local retailers.

The second property is Village Green Shopping Center, a 75,400-sq.-ft. center anchored by Dan’s Supreme. The center is currently 100 percent leased to local and national retailers including CVS, JP Morgan Chase, State Farm Insurance and others.

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