Elmsford, NY James Houlihan of Houlihan Parnes Realtors, LLC has placed a $6.5 million new first mortgage on the property located at 375 Executive Blvd.
The subject property consists of a single story warehouse attached to a two-story commercial office building with 80,229 s/f situated on a 3.53 acre parcel, built in 1970.
The loan was placed for a term of five years with a five-year extension option. The property was purchased in 2016, and is now 100% leased to five tenants. The owners were represented by Steven Hirsch of Hirsch & Gibaldi and the title was insured by The Great American Title Insurance Co.
Cross Westchester Executive Park features 26 office and office/flex buildings that offer 1.3 million s/f of commercial office space for corporate offices, technology-related facilities, and light industrial, distribution, and service centers.
Houlihan Parnes, Realtors, LLC is a privately owned, vertically integrated commercial real estate investment and management firm, with a presence throughout the United States. Owning more than 7 million square feet of office, retail and industrial space, the firm also owns or manages approximately 10,000 multifamily units. Founded in 1891 and operated by the fourth and fifth generations of the Houlihan family, the company is headquartered in White Plains, NY. The firm is engaged in acquisition, property and construction management, consulting services, leasing and mortgage brokerage for all commercial real estate asset classes, both for the company’s portfolio and for third parties. Houlihan-Parnes’ mortgage brokerage affiliate, Q10 New York Realty Advisors, is a member of Q10 Capital, LLC, a leading commercial mortgage brokerage consortium with 20 offices in 19 states nationwide.