Port Chester, NY Ed Graf of Houlihan-Parnes Realtors, LLC has arranged for a first mortgage refinancing of a newly constructed 50-unit apartment building, located at 120 North Pearl St.
The loan replaced the construction financing. The par loan in the amount of $13.5 million, was placed for a 5-year term with a 30-year amortization schedule. The interest rate of 3.50% is fixed for the 5-year term. The loan also provides for an additional 5-year option. There is a descending pre-pay privilege. The borrower was represented by Steven Pearsall.
Houlihan-Parnes, Realtors, LLC is a multi-faceted real estate investment company headquartered in White Plains, NY. Founded in 1891, its companies and affiliates are engaged in the acquisition and ownership of all types of commercial real estate investment property in the continental United States. Our mortgage brokerage affiliate, Q10 I New York Realty Advisors, is a member of Q10 Capital, LLC a leading commercial mortgage banking company with 20 offices in 19 states nationwide. Houlihan-Parnes and its affiliates specialize in commercial mortgage finance, investment sales, property management, leasing, mortgage servicing and consulting.