Ed Graf of Houlihan-Parnes Realtors, LLC, has arranged first mortgage, re-financing for a five-story walk-up apartment building containing 13 residential units and one store on the ground floor. The property is located at 840 Bronx Park South.
The loan of $1.1 million was placed for a term of five years, with a five year option. The initial term is fixed at 4.75% with a 30 year amortization schedule. The prepayment penalty is 5% for the 1st year with a declining 1% per year, thereafter. The loan is on a non-recourse basis. The lender did not charge a fee.
Houlihan-Parnes Realtors, LLC is a multi-faceted real estate investment company headquartered in White Plains, N.Y. 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. Its various companies and affiliates specialize in commercial mortgage finance, investment sales, property management, leasing, mortgage servicing and consulting. For more information, please contact James J. Houlihan at (914) 694-6070, ext. 324 or by e-mail at: [email protected]. Tags: