Location: Mt. Vernon, NY
Property Type: Apartment/Multi-Family
Transaction Type: First Mortgage
Loan Amount: $2,000,000
Details: Jeremiah A. Houlihan of Houlihan-Parnes Realtors, LLC has arranged a loan secured by a 1st mortgage in the amount of $2,000,000 encumbering of a 1.15 acre property improved with a 7-story concrete block and masonry brick double-wing, residential multi-family rental apartment building with two self-service elevators constructed in 1932 located at 33 Williams Street in the Fleetwood section of Mount Vernon, NY. There are 116 apartments, 26 on-site outdoor parking spots, 60 garage spots, gardens and a courtyard.
The self-liquidating loan was placed with a Savings Bank at a 15-year fixed interest rate of 3.63%. The Lender charged a no commitment fee and the loan has a yield maintenance penalty in the case of prepayment.
More Info: James J. Houlihan at 914-694-6070 or