112
NEW YORK CITY — Cronheim Mortgage has arranged a $21.9 million loan for a 120,000-square-foot medical office building located on 32nd Street, between 3rd and Lexington avenues, in New York City. The 12-story building is fully occupied; its main tenant is Ameripath, a division of Quest Diagnostics, which occupies several floors and has a separate 24-hour secured entrance. The loan carries a 4.62 percent fixed rate with interest-only payments for the first 2 years of the 10-year loan and a 30-year amortization schedule thereafter. The lender was an insurance company. Andrew Stewart and Dev Morris of Cronheim arranged the financing.