Jim Coleman of Houlihan-Parnes Realtors, LLC recently arranged acquisition financing of $1,500,000 for the purchase of 2075 Haviland Avenue in the Tremont section of the Bronx. The property is a 5-story walk-up apartment building containing 27 apartments and 4 stores.

The loan has a flexible 9 year term which gives the new owner’s the ability to make needed upgrades and improvements to the property with a liberal prepayment privilege. The property was purchased to reposition the asset based on existing vacancy.

The loan was made by a local New York commercial bank. Anthony Simari, of Smith, Buss & Jacobs, represented the borrower.