Houlihan-Parnes Realtors, LLC and Q10 Realty Advisors, LLC have completed the placement of a new first mortgage in the amount of $7.4 million on a property located at 30 Buxton Farms Rd. The property is located off the Merritt Parkway exit on Long Ridge Rd.
The property is improved with a 60,000 s/f office building with 17 tenants. The loan was placed with a local bank at an interest rate of 4.5% for a term of 10 years on a 30 year amortization schedule. The loan features a renewal option and flexible pre-pay schedule.
The loan was arranged by Kelly Houlihan and James Houlihan of Houlihan-Parnes Realtors. The title was arranged by Ray Cohen of Chicago Title Co. The borrower was represented by Elizabeth Smith and Aubrey Riccardi of Goldberg Weprin Finkel Goldstein, LLP, as attorneys.
Houlihan-Parnes Realtors 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.