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Brokerage
Posted: November 25, 2013
Houlihan of Houlihan-Parnes arranges $2.4 million acquisition financing for five-story walk-up apartment
Houlihan-Parnes Realtors, LLC, represented by Jerry Houlihan, has completed acquisition financing for 2285 Andrews Ave. North, located on the west side of the street between West Fordham Rd. and West 183rd St. The property is improved with a five-story walk-up apartment building built in 1922 containing a total of 37 rental units plus a super's unit in the basement.
Houlihan arranged a $2.4 million loan equal to 75% of the sales price with a fixed interest rate of 3.75% for a seven-year period on a 30-year amortization schedule. The loan was placed with a L.I.-based bank represented by Stark, Amron & Liner LLP.
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.
Houlihan-Parnes and its affiliates specialize in commercial mortgage finance, investment sales, property management, leasing, mortgage servicing and consulting.
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