David Rabinowitz of Houlihan Parnes/iCap Realty Advisors, LLC has arranged a private first mortgage loan of $225,000 on 1832 Wallace Ave. in the Morris Park area. The property is a three family detached house that the borrower plans to renovate.
The first mortgage/bridge loan was an interest only fixed rate mortgage with a term of 12 months with no pre-payment for the first three months.
The borrower was represented by Kathleen Bradshaw, Esq. of the Bronx. The lender was represented by Joshua Deutsch, Esq. of Deutsch & Schneider of Glendale, NY.
Houlihan-Parnes/iCap Realty Advisors, LLC is a nationally affiliated, 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 and mortgage servicing. Tags: