Location: Orangeburg, NY
Property Type: Retail
Transaction Type: Acquisition Financing
Loan Amount: $6,850,000
Details: Houlihan-Parnes Realtors, LLC and Q10 Capital, LLC is pleased to announce the closing of a loan in the amount of $6,850,000 on properties located at 30-40 Ramland Road in Orangeburg, New York. The properties are located in Rockland County and are improved by two 40,000 sq. ft. two-story office buildings. The multi-tenant properties are located on 10+ acres and have 244 on-site parking spaces. The properties have been upgraded in the last 4 years with a new lobby and common areas, HVAC upgrades throughout the building, a new elevator, new restrooms, and a new roof. The parking lot was repaved and 45 new parking spaces were added.
The loan was placed for a term of 10 years with a local bank. The rate is fixed for the first 5 years of the term at 4.5% and is repayable on a 30 year schedule.
Michael Lynch, Esq. was the attorney for the borrowers and title insurance was provided by Ray Cohen of Chicago Title Insurance Co.
Houlihan Parnes Realtors, LLC is a multi-dimensional privately owned real estate company founded in 1891. The company has a significant number of multi-family and commercial buildings throughout the United States. Houlihan Parnes Realtors, LLC and its affiliated companies also provide a wide array of services including sales, mortgage finance, management, leasing, servicing, and consulting services.
Metro Property Group is a Houlihan Parnes affiliated management company under James K. Coleman’s supervision. The company manages a number of Houlihan Parnes Investment properties and provides third party management services.
More Info: James J. Houlihan at 914-694-6070 or