Cronheim Mortgage Closes $12.5M Loan For 40-Unit Multifamily Property In Jackson Heights

The Jackson, located at 34-56 73rd Street in the Jackson Heights market, is a multifamily asset comprising 40 residential units. The property features ground-floor retail tenants including T-Swirl Crepe and Pizza Hut. The permanent loan closed on this asset amounted to $12,500,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $12,500,000
• Units: 40
• Address: 34-56 73rd Street
• Market: Jackson Heights
• Brokers: Allison Villamagna & Andrew Stewart - Cronheim Mortgage

Cronheim Mortgage facilitated the closing of the loan for The Jackson, emphasizing their role in securing financing for the property’s multifamily and retail spaces, connecting investors with a key asset in the Queens area.