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.