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Brokerage
Posted: January 14, 2013
Graf and Sanella of Houlihan-Parnes arrange $5.5 million
Ed Graf and Ted Sannella of Houlihan-Parnes Realtors, LLC have arranged for the re-finance of the first mortgage on a multifamily complex. The property consists of 257 apartments and is located at 380 Chenango St. and 13 Pearne St.
The par, non-recourse loan, was placed for a five year term with a 30 year amortization schedule. The loan amount is for $5.5 million. The interest rate, 3.58%, is fixed for the first five years. The loan provides for a five-year renewal option. It can also be pre-paid with a declining prepayment premium.
The borrower was represented by Steven Tierney of Woods, Oviatt, Gilman L.P.P.
Houlihan-Parnes Realtors, LLC is a multi-faceted real estate investment company headquartered in White Plains. 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 | New York Realty Advisors, is a member of Q10 Capital, LLC a leading commercial mortgage banking and investment sales company with 26 offices in 20 states nationwide.
Houlihan-Parnes and its affiliates specialize in commercial mortgage finance, investment sales, property management, leasing, mortgage servicing and consulting.
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