Cronheim Arranges $10M Refinancing for Mixed-Use Property in Princeton, New Jersey

PRINCETON, N.J. — Cronheim Mortgage has arranged a $10 million loan to refinance a mixed-use property in Princeton. Located at 277 and 281 Witherspoon St., the property consists of two adjacent retail and office buildings. The first, 277 Witherspoon, is a recently completed two-story building. The second, 281 Witherspoon, is a three-story building built in 1984 and renovated in 2015. Cronheim secured the 10-year loan with three years of interest-only payments on behalf of the borrower, HP Witherspoon LLC, an affiliate of Princeton-based Herring Properties. The lender was undisclosed.