Jerry Houlihan of Houlihan Parnes/iCap Realty Advisors, LLC has completed the placement of three institutional first mortgages in the aggregate amount of $2.64 million for the refinancing of three neighborhood 1-story taxpayers. The properties total 14,000 s/f and are located in the Fordham and Tremont neighborhoods. All are situated west of Jerome Ave.near I-87.
The loan was placed at a market interest declining rate fixed for seven years on a 12 year term payable on a 30-yr. amortization schedule. The loan features a prepayment option and the last two years of the loan are prepayable without penalty. The bank charged no commitment fee.
Aubrey Riccardi of Goldberg, Weprin, & Ustin represented the borrowers. Title was insured by James Maloney of Chicago Title Co.

Houlihan-Parnes/iCap Realty Advisors, LLC is a nationally affiliated, 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 and mortgage servicing. Tags: