Graf of Houlihan-Parnes Realtors finances $3.8 million for 160-unit property

Oneida County, NY Ed Graf of Houlihan-Parnes Realtors LLC, has arranged for 1st mortgage refinancing for a multifamily property, consisting of 160 apartments. The property is located at 318, 319, 400-604 E. Bloomfield St. in the city of Rome. The non-recourse loan, in the amount of $3.8 million, is fixed at 4.25% for 5 years. The first year has interest only payments and years 2 through 5 have 30-year amortization payments. The borrower has a 5-year extension option. The loan can be prepaid with a prepayment premium at a descending rate. The borrower was represented in the transaction by Steve Tierney of Woods, Oviatt. 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 U.S.