Houlihan-Parnes Realtors places two mortgages totaling $2.625 million

Ed Graf of Houlihan-Parnes Realtors, LLC has arranged the first mortgage, refinancing for 505 Main St., New Rochelle. The loan of $625,000 was placed for a term of five years, with a five year option term. The initial term is fixed at 5.50% 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. Additionally, according to Houlihan-Parnes Realtors, LLC, it has placed a new first mortgage in the amount of $2 million on a 4-story office building located at 12 Water St. The building is leased by Con Edison who is currently completing an environmental clean up on the site. Smith was the attorney who represented the borrower. The title was insured by John Martin of All New York Title. According to Jeanne Cronin, managing director of Q10 | New York Realty Advisors, LLC, they have completed the closing of a first mortgage loan in the amount of $13.75 million. Secured by a 135,000 s/f multi-tenanted class A office building located at 4 West Red Oak Ln., the property is close to the I-287 office corridor known as the Platinum Mile. The property was acquired by the principals of Houlihan-Parnes/GHP Office Realty in 2000. Over the years the owners have completed numerous capital improvement projects including additional parking, new roof, extensive lobby renovation, common area upgrades plus the addition of an on-site café and fitness center. The loan was placed with a New York-based bank. The non-recourse loan was written for a 10-year term with the rate fixed at 6.25% for the first five years and based on a 30-year amortization schedule. The rate will be reset in year six. According to Jim Houlihan, a principal of Houlihan-Parnes, "We have witnessed unprecedented changes in the business of financing real estate the past several years and recognize the importance of establishing and maintaining strong lender relationships. We have closed other loans with this lender and have a high regard for their ability to close deals on the terms as initially committed. That 'certainty of execution' is important now, more than ever." Elizabeth Smith, Esq. of Goldberg Weprin Finkel Goldstein LLP represented the borrower, as attorney. Anita M. Hyland, Esq. of Cassin & Cassin LLP represented the lender, as attorney. The title was insured by Chicago Title. 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. Its various companies and affiliates specialize in commercial mortgage finance, investment sales, property management, leasing, mortgage servicing and consulting. Q10 | New York Realty Advisors, LLC is a member of Q10 Capital, LLC a leading commercial mortgage banking and investment sales company with 26 offices nationwide. Q10 has the resources and expertise to successfully provide debt and equity solutions to all types of real estate transactions regardless of property type, size, location and complexity. Out clients are given access to a wide variety of lending sources and a full range of financing products through our established relationships with local and national lending sources. The combined offices of Q10 Capital originated in excess of $17 Billion of commercial mortgage loans over the past three years and currently service over $20 Billion in loans for our correspondent lenders. For more information please contact Jeanne Cronin of Q10 | New York Realty Advisors at 914-641-4383 or visit our website at www.Q10capital.com.