Location: Great Neck, NY
Property Type: Apartment/Multi-Family
Transaction Type: First Mortgage
Loan Amount: $1,500,000
Details: Jeremiah A. Houlihan of Houlihan-Parnes Realtors, LLC has arranged a loan secured by a first mortgage in the amount of $1,500,000 encumbering a property located at 15 Beach Road in Great Neck, NY, improved with a 3-story brick walk-up garden-style Cooperative apartment building constructed in 1950. There are 54 apartments, on-site outdoor parking spots, 27 garages, gardens and courtyard.
The loan was placed with a Savings Bank at a 7-year fixed interest rate of 3.5% on a 30-year amortization schedule. The Lender charged a no commitment fee and the loan has a sliding scale penalty in the case of prepayment.
More Info: James J. Houlihan at 914-694-6070 or