Houlihan-Parnes Realtors, LLC placed a $3,220,000 first mortgage on the retail/office building located at 79 East Putnam Avenue, in Greenwich, CT.
The non-recourse loan is fixed for 7 years at 3.75%. The building contains 20,000 rentable square feet and is fully leased. The loan, closed with a local bank, is prepayable throughout the term on a declining scale and the Borrower has an option to extend the loan for an additional five years.
The Borrower was represented by Christie L. Houlihan, Senior Director and Counsel of Houlihan-Parnes Realtors and title was provided by Ray Cohen of Chicago Title Insurance.
Houlihan-Parnes Realtors, LLC is a multi-faceted real estate investment company headquartered in White Plains, N.Y. Founded in 1891, its companies and affiliates are engaged in the acquisition and ownership of all types of commercial real estate investment property in the continental United States.
The firm's mortgage brokerage affiliate, Q10 | New York Realty Advisors, is a member of Q10 Capital, LLC a leading mortgage commercial banking company with 20 offices in 19 states nationwide.