News:
Brokerage
Posted: July 21, 2020
Houlihan-Parnes Realtors place $29m first mortgage
Bronx, NY James Houlihan, Bryan Houlihan, and Christie Houlihan of Houlihan-Parnes Realtors placed a $29 million first mortgage on the 222,637 s/f office condominium at 1775 Grand Concourse.
The 10-year, non-recourse loan closed with a local bank at a fixed rate of 2.9%. The mortgage covers a commercial condominium interest in the 300,000 s/f building that shares ownership with Verizon.
Verizon uses their two floors to house their central switching boards for all land lines in the borough. The borrower has converted the remaining six floors to an ancillary indoor parking garage on the first floor, and retail and professional office space on floors four through eight.
The borrower was represented by Elizabeth Smith of Goldberg Weprin Finkel Goldstein, LLP and title was acquired by First American Title.
Current tenants include Bronx Lebanon Hospital, Safe Horizons, Post Graduate Mental Health, and Special Citizens Futures Unlimited.
Tags:
Brokerage
MORE FROM Brokerage
Dong Bei Restaurant & Bar signs 2,000 s/f lease at New Hyde Park Place
New Hyde Park, NY Dong Bei Restaurant & Bar, which serves Northeastern Chinese cuisine inspired by Harbin, China, signed a lease for a 2,000 s/f space at New Hyde Park Place,
Quick Hits
 (2).gif)
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt CRE question and answer: Choosing a real estate agent - by David Hunt
First, we will only work with one agent exclusively. The primary reason is that we want that agent to legally represent our client’s interests. In New York State, a real estate agent has a fiduciary
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
The art of investing in real estate - by Thomas Donovan
Real estate investing is as much an art as it is a skill. No one can time the market, or the factors that drive it, perfectly. Location, zoning, size, transportation, and neighborhood density give you a baseline for
.gif)