Location: Bronx, NY
Property Type: Apartment/Multi-Family
Transaction Type: First Mortgage
Loan Amount: $1,350,000
Details: Jerry Houlihan of Houlihan-Parnes Realtors, LLC is pleased to announce the placement of a $1,350,000 underlying first mortgage on a 7-story cooperative apartment building constructed in 1962, containing two self-service elevators, 99 apartments, many with terraces, gardens and marble lobby. The building is located at 3311 Giles Place, which is northwest corner of Fort Independence Street and Giles Place near the Jerome Park Reservoir in Kingsbridge Heights section of the Bronx.
The 10-year, par loan has a fixed interest rate of 3.875% on a 30-year amortization schedule. The loan closed with a local Bank and is prepayable throughout the term on a declining scale. The Borrower was represented in the transaction by Norman Himmelfarb of Himmelfarb & Sher LLP.
Houlihan-Parnes Realtors, LLC is a multi-faceted real estate investment company headquartered in White Plains, N.Y. Founded in 1891, 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. Our mortgage brokerage affiliate, Q10 | New York Realty Advisors, is a member of Q10 Capital, LLC a leading commercial mortgage banking and investment sales company with 26 offices in 20 states nationwide.
Houlihan-Parnes and its 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: firstname.lastname@example.org.
More Info: James J. Houlihan at 914-694-6070 or