Houlihan Parnes History

The history of Houlihan-Parnes and its predecessors, the Daniel Houlihan Corporation, D. Houlihan and Sons, and Houlihan Mortgage and Realty Company, is a unique success story characterized by the enthusiasm and dedication of four successive generations of Houlihans and, as of 1967, Howard Parnes. This extraordinary example of the “American dream” has created an organization which has been successfully involved in the real estate industry since 1891.

Houlihan-Parnes and its affiliates, headquartered in its recently acquired facility in White Plains, New York, currently employs real estate professionals including: brokers, salespersons, servicing personnel, mortgage specialists, property managers, leasing and technology experts, fiscal accounting, and office personnel.

The current role of the company, as a pillar of the real estate industry, is indeed a credit to its founder, Daniel Houlihan, from County Kerry, Ireland, arriving in the USA in 1874 “on his own,” at the tender age of fourteen. Young Dan soon found work as a construction laborer and advanced rapidly to carpenter/ contractor. While still in his twenties he conceived and initiated his own general contracting and construction company. In 1891, Dan expanded the business further as he began buying and selling building lots in Manhattan and the Bronx.

Shortly after 1900, the Houlihan family moved to Bedford Park in the Bronx, where Dan Houlihan became renowned for building “Houlihan’s Flats,” the first multi-family apartment buildings, situated in what was then farmland, north of Fordham Road. This construction was quite unique to the time and afforded fire companies from the north Bronx an opportunity to practice new techniques on these “high rise” buildings.

Before and after World War I, three sons joined the company and pioneered the development of the Woodlawn and Wakefield sections of the Bronx, constructing private homes, apartment buildings, retail taxpayers, theaters, and other commercial buildings. In addition, the family business was further expanded to include real estate management, sales, and insurance.

During the dire times attributed to the “Great Depression,” life insurance firms and banks employed the Houlihans to manage thousands of foreclosed properties. As exclusive area agent for the Home Owners’ Loan Corporation, a forerunner of the Federal Housing Administration, the Houlihans operated, and subsequently sold, thousands of properties for the H.O.L.C.

During World War II, Jim, Dan’s son, became president of the Bronx Real Estate Board and head of the U.S. Treasury War Bond Drive. He expanded the company to include property appraisals and mortgage brokerage.

In 1955, a third generation represented by Jim’s son, James G. Houlihan, and Joe’s son, Daniel J. Houlihan, joined the business. After Jim Sr.’s death in 1961, the company name was changed to The Houlihan Mortgage and Realty Company. James and Daniel gained acclaim in their profession and subsequently, James G. Houlihan served as president of the Bronx Board of Realtors and New York State Association of Realtors and as vice president of the National Association of Realtors. Daniel J. Houlihan, III served as president of the Bronx Board of Realtors and the Bronx and Metropolitan Societies of Professional Engineers.

In 1967, Howard Parnes became a partner, joining Jim and Dan Houlihan, forming what is now known as Houlihan-Parnes/iCap Realty Advisors. Howard entered the firm with a strong entrepreneurial background in the retail business. However, during his nearly forty-year tenure as an active principal, lender and broker, Howard has been involved internationally in the purchase, ownership and sale of several thousand substantial commercial properties and mortgages.

Howard Parnes’ entrance into the Houlihan family business heralded a renewed emphasis on the ownership and investment phase of the business.

In 1973, the company moved to Scarsdale and Jim’s son, James J. Houlihan, became the first member of the fourth generation of young Houlihans to enter the business. In 1987 Jim became a partner in the firm. In the year 2000, Houlihan-Parnes/iCap Realty Advisors celebrated the new millennium with a momentous series of successes.

First, the purchase of its current home, at One West Red Oak Lane, White Plains, New York was completed. This beautiful property which bears the HP logo, reflects the “new face” of the company and portends positively for the continued success and growth of this vibrant company.

Second, with the successful formation of Metro Property Group, a full service management company, with nationwide affiliation, Houlihan-Parnes/iCap Realty Advisors, has provided a support vehicle, ensuring the future growth and viability of its holdings.

Third, with the formation of GHP Office Realty, the firm has renewed and escalated its involvement in the important office building market, developing resources for increased ownership and self management.

Fourth, its relationship with iCap Realty Advisors, places the firm in an imposing and powerful position in the ever-changing mortgage origination industry.

Fifth, Coolidge Equities, Ltd., a subsidiary of Houlihan-Parnes/iCap Realty Advisors and C.L.K. Management Corp. have jointly purchased 53 garden apartment complexes comprising 12,550 multi-family units. The properties are spread over fourteen states in the eastern half of the U.S. and were purchased from New Plan Excel Realty Trust, Inc. of New York. The Partners are actively seeking other investment opportunities nationwide.

This once small firm was conceived and developed solely through the hard work of one indigent Irish immigrant. Vision and an extraordinary work ethic have helped this company evolve into a modern, technologically advanced multi-faceted, real estate investment and service company.

The name Houlihan- Parnes/iCap Realty Advisors, as reflected in its formidable history and bolstered by the reputation and quality of its ownership, continues to be synonymous with integrity, persistence, professionalism, and success.