4 Retail Properties in the New York Metropolitan area

Property Name: 4 Retail Properties in the New York Metropolitan area
Location: n/a, NY
Property Type: Retail
Transaction Type: First Mortgage
Loan Amount: $12,260,000
Details: Houlihan-Parnes Realtors, LLC, affiliated with Q10 Capital, LLC, has closed 4 loans on retail properties in the New York Metropolitan area. Jim Coleman and Jerry Houlihan represented Houlihan-Parnes Realtors, LLC on these transactions. The loans were all placed for a 10 year term. The interest rate was fixed for the first 5 years at 4.75%.

The first property financed was 4174 White Plains Road located in Bronx, NY. It is located on the southeastern corner East 233rd Street. The property contains 12,250 sq. ft. with 14 tenants including T-Mobile, McDonald’s, Dunkin Donuts and H&R Block. There is also a 32 space parking lot in the rear of the property. A $5,000,000 loan was placed on this property.

The second property financed was a 13,000 sq. ft. retail strip with 14 tenants located at 44-25 Kissena Blvd. in Flushing, Queens. The tenants include Flushing Saving Bank. A loan in the amount of $3,860,000 was placed on this property.

The third property financed was Stoneridge Plaza in Middletown, NY. The property is a one story shopping center with 7 stores and onsite parking. The tenants include the US Post Office, Catskill Hudson Bank, and a newly opened Greek café. A loan in the amount of $1,700,000 was placed on this property.

The fourth property financed is located at 434 Mamaroneck Avenue, Mamaroneck, NY. The property is located within a block of the Mamaroneck MTA station. A loan in the amount of $1,700,000 was placed on this 2-story mixed-use property. It has 6 stores and 6 offices on the 2nd floor. The tenants include 2 popular Westchester restaurants, La Provencal and Turkish Meze. Elizabeth Smith of Goldberg Weprin Finkel Goldstein, LLP represented the borrowers on each of these transactions.

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: jjh@houlihanparnes.com.
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