 (1).gif)
News:
Finance
Posted: March 7, 2013
Houlihan-Parnes Realtors place $2.35 million mortgage financing
Houlihan-Parnes Realtors, LLC and Q10 Realty Advisors, LLC have placed a new first mortgage in the amount of $2.35 millon on a property located at 83 East Ave. The building is in a location close to Norwalk Hospital, Metro North Railroad, Exit 16 on I-95 and Rte. 7.
The property is undergoing extensive capital improvements including a new lobby, bathrooms, elevators, landscaping, exterior lighting and painting. The 40,000 s/f 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 Houlihan and James Houlihan of Houlihan-Parnes Realtors. The title was arranged by Ray Cohen of Chicago Title. The borrower was represented by Robert Ocko of Harrington, Ocko & Monk, LLP, as attorney.
Tags:
Finance
MORE FROM Finance
Kozlowski of Newmark Capital Markets secures $115.6 million financing for two properties in CT
East Lyme, CT Newmark has arranged $115.6 million in financing on behalf of the sponsor to refinance The Cove at Gateway Commons and Sound at Gateway Commons. Newmark Capital Markets Strategies managing director Avi Kozlowski secured the financing through Freddie Mac.
 (1).gif)
Columns and Thought Leadership
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
Are appraisers on the same page as the assessor? - by Richard Seman
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
