1922 McGraw Avenue

Property Name: 1922 McGraw Avenue
Location: Bronx, NY
Property Type: Apartment/Multi-Family
Transaction Type: First Mortgage
Loan Amount: $1,850,000
Details: Houlihan-Parnes Realtors, LLC is pleased to announce the placement of an underlying $1,850,000 first mortgage on the 6-story elevator co-operative apartment building at 1922 McGraw Avenue in the Parkchester section of the Bronx, NY. The interest-only loan is fixed at 6.05% for the full 10 year term. The co-operative corporation needed funds for major capital improvements, to replenish their reserves, and refinance the existing loan that was coming due this year. The co-op is 80%-sold and has 49 residential apartments and 4 professional units. The financing was handled by Andrew Hargadon and Mike O'Neill of Houlihan-Parnes and Aubrey Riccardi of the law firm, Goldberg Weprin Finkel Goldstein, 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. For more information, please contact James J. Houlihan at (914) 694-6070, ext. 324 or by e-mail at: jjh@houlihanparnes.com.
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