Location: Yonkers, NY
Property Type: Mixed Use
Transaction Type: First Mortgage
Loan Amount: $750,000
Details: Jerry Houlihan of Houlihan-Parnes Realtors LLC has arranged a $750,000 first mortgage on the mixed-use property located at 925-939 Yonkers Avenue, Yonkers, NY. The ½-acre property, located across from Empire City/Yonkers Raceway, includes the Clairmont Diner, an automotive center and retail store, as well as three 2nd floor apartments.
The loan is fixed for the first 5 years at 5.25% and fixes again for a second five years with a right to prepay during each 5-year period on a declining scale. The local Bank charged a 1% origination fee and the loan is on a 20-year amortization schedule.
More Info: Jerry Houlihan at 914-694-6070 or