O'Neill of Houlihan-Parnes and Smith of Goldberg Weprin secure $6.5 million

Houlihan-Parnes Realtors, LLC has placed a $6.5 million first mortgage on the 70,000 s/f, multi-tenanted office building located at 7-11 South Broadway. The non-recourse loan is fixed at 6.25% for five years with a 30-year amortization schedule. The lender received a ½-point fee, the loan can be prepaid with a declining prepayment premium, and the borrower has a 5-year option to extend. The 4-story building in the central business district is currently 83% occupied. The loan was placed by Mike O'Neill of Houlihan-Parnes and Elizabeth Smith of Goldberg Weprin represented the borrower. Houlihan-Parnes Realtors, LLC is a multi-faceted real estate investment company headquartered in White Plains, N.Y. 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.