Houlihan of Houlihan-Parnes arranges $4.5 million

Jim Houlihan of Houlihan-Parnes Realtors, LLC has completed the refinancing of a $4.5 million first mortgage on the 8,600 s/f Rite Aid pharmacy building located at 41-51 West Fordham Rd. The five-year, non-recourse loan has a fixed rate of 4% with a 30-year amortization schedule thereafter it is interest-only for two years. The loan, closed with a local bank, is pre-payable throughout the term on a declining scale and the borrower has an option to extend the loan for an additional five years. The borrower was represented in the transaction by Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP and title was provided by Jim Maloney of The Great American Title Agency, Inc. 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. For more information, please contact James J. Houlihan at (914) 694-6070, ext. 324 or by e-mail at: [email protected].