Ed Graf of Houlihan-Parnes Realtors, LLC has arranged the first mortgage, re-financing for a 3-story walk-up apartment building containing 4 residential units and 2 commercial tenants located at 505 Main St.
The non-recourse loan of $600,000 was placed for a term of five years, with a five year option term. The initial term is fixed at 4.25% with a 30 year amortization schedule. The prepayment penalty is 5% for the 1st year with a declining 1% per year, thereafter.
Houlihan-Parnes Realtors, LLC is a multi-faceted real estate investment company headquartered in White Plains, N.Y. 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. Tags: