Ed Graf of Houlihan Parnes Realtors, LLC, has arranged a $1,600,000 first mortgage on the 70-unit apartment complex at 475 West Broadway, Monticello, New York. The garden apartment-style property consists of ten 2-story brick buildings built in 1965.

The 5-year loan is fixed at 3.4% interest with a 30-year amortization schedule and was done at par. The loan is prepayable throughout the term on a declining schedule and the Borrower has a 5-year option to extend.

The transaction was handled by Steve Tierney of Woods Oviatt Gilman LLP.