Hendy and McCulloch of Houlihan Parnes Realtors place $1 million loan on 123-129 Halstead Avenue

Rich Hendey and Steve McCulloch of Houlihan Parnes Realtors, LLC have placed a $1 million loan on 123-129 Halstead Ave. located across the street from the Mamaroneck train station. The non-recourse loan was done at par and has a fixed rate of 4% for a period of five years with a 30 year amortization schedule. The Borrower has a five year option to renew. The recent façade renovation and upgrade to the common areas enabled the owners to attract a stable mix of office and retail tenants to further increase the value of this asset. The loan was placed with a regional bank and the borrowers were represented by John Nickelsberg of the law firm Rabine & Nickelsberg.