Multi-Family Buildings

Property Name: Multi-Family Buildings
Location: Bridgeport, CT
Property Type: Apartment/Multi-Family
Transaction Type: First Mortgage
Loan Amount: $3,780,000
Details: 1575 IRANISTAN AVENUE, 80 GRANFIELD AVENUE, 30 GRANFIELD AVENUE, 850 HANCOCK AVENUE, 644-654 PARK STREET, 85 PRICE STREET, 898-900 NORMAN STREET, & 300 FRENCH STREET, BRIDGEPORT, CT

Houlihan-Parnes Realtors, LLC, represented by Jerry Houlihan is pleased to announce the placement of a $3,780,000 first mortgage for the acquisition of 8 multifamily buildings containing 160 apartments located in Bridgeport CT. These garden-style apartment buildings were built between 1960 and 1975 and have laundry facilities and on-site parking. The purchasing group bought the assets from US Bank, NA at a price of $5,000,000 and were contracted to close within 30 days. HP secured a 3-year, PAR loan with a floating interest rate of 0.75% above the prime rate on a 30-year amortization schedule. The loan was provided by a New Jersey based Bank and is prepayable throughout the term with no penalty. The loan also contains release provisions if any of the properties are sold.

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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