Cronheim Mortgage Secures $7.7M in Financing for Nine Mall Plaza in New York

by Amy Works

POUGHKEEPSIE, N.Y. — Cronheim Mortgage has secured $7.7 million in financing for Nine Mall Plaza in Poughkeepsie. The 99,765-square-foot shopping center is occupied by Babies R Us, Aldi, H&R Block, Verizon, Supercuts and a variety of local retailers, including a dance studio and nail salon. The loan was structured with a 10-year initial term, a 22.5-year amortization schedule and flexible prepayment options for the borrower, Nine Mall Investors LLC. Dev Morris and Andrew Stewart of Cronheim Mortgage arranged the financing.

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