Houlihan of Houlihan-Parnes Realtors, LLC secures $500,000 mortgage for 51 Van Cortlandt Park Avenue

Jeremiah Houlihan of Houlihan-Parnes Realtors, LLC arranged a loan secured by a 1st mortgage in the amount of $500,000 encumbering a property located at 51 Van Cortlandt Park Ave. improved with a three-story walk-up apartment building constructed in 1965.There are 7 apartments and on-site outdoor parking spots. The loan was placed with a Savings Bank at a 10-year fixed interest rate on a 25-year amortization schedule. The lender charged a no commitment fee and the loan has a sliding scale penalty in the case of prepayment. 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.