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Cronheim Mortgage Closes $12.7M in Refinancing for Two Medical Office Buildings in Long Island

520-Franklin-Ave-Long-Island-NY

Located at 520 Franklin Ave. in Garden City, the two buildings offer a total of 100,141 square feet of medical office space.

LONG ISLAND, N.Y. — Cronheim Mortgage has arranged $12.7 million in refinancing for two medical office buildings located at 520 Franklin Ave. in Long Island’s Garden City. The properties total 100,141 square feet. The loan was structured with an initial five-year fixed-rate period locked at 3.875 percent followed by a five-year extension option. David Turley, Janet Proscia and Jeff Pacailler of Cronheim arranged the financing for the undisclosed borrower.

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