Location: Monticello, NY
Property Type: Apartment/Multi-Family
Transaction Type: First Mortgage
Loan Amount: $3,850,000
Details: Ed Graf of Houlihan-Parnes Realtors, LLC, has arranged a $3,850,000 first mortgage on the 176-unit apartment complex at 76 Shaker Heights Drive, Monticello, New York. The garden apartment-style property, known as Monticello Meadows, consists of nine 2-story brick buildings built in 1979.
The 5-year loan is fixed at 3.4% interest with a 30-year amortization schedule and was done at par. The loan is prepayable throughout the term on a declining schedule and the Borrower has a 5-year option to extend.
The transaction was handled by Steve Tierney of Woods Oviatt Gilman LLP.
More Info: Ed Graf at 914-694-6070 or