Location: Norwalk, CT
Property Type: Office
Transaction Type: First Mortgage
Loan Amount: $2,350,000
Details: Houlihan-Parnes Realtors, LLC and Q10 Realty Advisors, LLC are pleased to announce the placement of a new first mortgage in the amount of $2,350,000 on a property located at 83 East Avenue, Norwalk, Connecticut. The building is in an ideal location close to Norwalk Hospital, Metro North Railroad, exit 16 on I-95 and Route 7. The property is undergoing extensive capital improvements including a new lobby, bathrooms, elevators, landscaping, exterior lighting and painting. There are currently suites available ranging from 300-3,000 square feet. The 40,000 square foot office and medical building is home to 18 tenants and is managed and leased by GHP Office Realty. The interest-only loan was placed with a local bank at an interest rate of 4.25% for a term of 2 years with an option to extend. The loan was arranged by Bryan J. Houlihan and James J. Houlihan of Houlihan-Parnes Realtors, LLC. The title was arranged by Ray Cohen of Chicago Title. The borrower was represented by Robert Ocko of Harrington, Ocko & Monk, LLP, as attorney.
GHP Office Realty is the office building division of Houlihan-Parnes Realtors, LLC which is presently one of the New York area’s leading owners, operators and purchasers of suburban redeveloped, leased and managed more than 6,000,000 square feet. Regionally, the partners presently own and manage buildings in Westchester and Rockland Counties, New York, in Fairfield County, Connecticut, in Bergen County and Princeton, New Jersey, and in Fort Worth, Texas. Privately funded and well-capitalized, GHP Office Realty is stable, strong, and poised to flourish in the coming years of real estate recovery. For more information please contact Andy Greenspan at 914-642-9300 ext. 346 or by email at: firstname.lastname@example.org.
More Info: James J. Houlihan at 914-694-6070 or