Houlihan-Parnes Properties is pleased to announce the placement of a $1,000,000 underlying co-op first mortgage for 1506 Overing Street in the Bronx, NY. Located in the “Westchester Square” neighborhood of the East Bronx, the 5-story co-op building is situated at the northwest corner of Overing Street and Frisby Street. The property is a double-wing, walk-up apartment building containing 30 co-op apartments.

The ten-year loan has a fixed rate of 4.125% with a 30-year amortization schedule. The loan was closed with a national bank with a strong regional presence. The Co-Op was represented in the transaction by Alan Snider, Esq.