Location: New Rochelle, NY
Property Type: Apartment/Multi-Family
Transaction Type: Refinance
Loan Amount: $600,000
Details: Ed Graf of Houlihan-Parnes Realtors, LLC has arranged the first mortgage, re-financing for a 3-story walk-up apartment building containing 4 residential units and 2 commercial tenants located at 505 Main Street, New Rochelle, NY.
The non-recourse loan of $600,000 was placed for a term of five years, with a five year option term. The initial term is fixed at 4.25% with a 30 year amortization schedule. The prepayment penalty is 5% for the 1st year with a declining 1% per year, thereafter.
More Info: Ed Graf at 914-694-6070 or