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Brokerage
Posted: April 25, 2011
O'Neill of Houlihan-Parnes finances $2.5 million for 10,000 s/f retail building
Houlihan-Parnes Realtors, LLC, represented by Mike O'Neill, has placed a $2.5 million first mortgage on the 10,000 s/f retail building with five stores located at 3427 Jerome Ave. The five-year, non-recourse loan has a fixed rate of 4.75% with interest only for two years. The loan, closed with a local bank, is prepayable throughout the term on a declining scale and the borrower has an option to extend the loan for an additional 5 years. The borrower was represented in the transaction by Jules Levy of Hofheimer Gartlir & Gross LLP and title was provided by Phil Linz of Stewart Title.
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