O'Neill of Houlihan-Parnes negotiates mortgage financing

Houlihan-Parnes Realtors, LLC has placed first mortgage financing on the five-story walk-up apartment building at 1038 Southern Blvd. The non-recourse loan is fixed at 3.5% for seven years with a 30-year amortization schedule. The lender did not charge a fee, the loan can be prepaid throughout the term on a declining schedule, and the borrower has a five-year option to extend. The building, off of Westchester Ave., has 17 apartments and two stores. The financing was handled by Mike O'Neill of Houlihan-Parnes and Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP represented the borrower. Houlihan-Parnes Realtors, LLC is a multi-faceted real estate investment company headquartered in White Plains. 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. Their mortgage brokerage affiliate, Q10 | New York Realty Advisors, is a member of Q10 Capital, LLC a leading commercial mortgage banking and investment sales company with 26 offices in 20 states nationwide. Houlihan-Parnes and its affiliates specialize in commercial mortgage finance, investment sales, property management, leasing, mortgage servicing and consulting. For more information, please contact James J. Houlihan at (914) 694-6070, ext. 324 or by e-mail at: [email protected]. 3/24/15