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$25m loan for Tiffany's home.



Cronheim Mortgage Corporation served as advisor and correspondent on the placement of $25 million loan for 600 Madison Ave. in New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
.

The borrowing entity is 600 Partners Co., LP, and the loan is based on a 15-year term and 15-year amortization schedule.

The property is a 26-story, class A office building, containing 341,000 s/ f. It is located at the southwest corner of Madison Avenue Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S.  and 58th Street in the Plaza District of Manhattan.

The building, designed by Emery Roth Emery Roth (1871 – August 20, 1948) was a Hungarian-American architect who built many of the definitive New York City hotels and apartment buildings of the 1920s and 30s, incorporating Beaux-Arts and Art Deco details.  & Sons, was built in 1965 and has undergone recent improvements, including a new lobby. The primary tenant in the building is Tiffany & Co, which occupies 60% of the space.

Other office tenants in the building include the law firm of Pavia & Harcourt, Berkshire Bank, and luxury goods retailer Chanel. The ground floor retail space is leased to J. P. Morgan Chase.

600 Madison Ave. is situated in the heart of the Plaza District, Manhattan's most prestigious business center. It is only one block from Fifth Avenue, one of the world's major luxury retail centers. In its immediate vicinity lie landmark buildings such as The Plaza Hotel The Plaza Hotel in New York City is a landmark 19-story luxury hotel with a height of 250 feet (76 m) and length of 400 feet that (122 m) occupies the west side of Grand Army Plaza, from which it derives its name, and extends along Central Park South in Manhattan.  and Trump Tower Trump Tower
Trump Tower is the name used for several skyscrapers owned and operated by real estate magnate Donald Trump. Each of these skyscrapers is predominantly composed of residential condominiums and found in major cities.
.
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Article Details
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Title Annotation:Banking & Finance
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Jan 14, 2004
Words:192
Previous Article:Borrowers seek alternative financing as conventional lending market tightens.
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