Daniel J. Houlihan Corporation founded in New York, New York. Daniel immigrated to the United States from County Kerry, Ireland, in 1874. Houlihan settles in the Bronx, New York, and begins to purchase land along the northern trajectory of future rail lines in northern Manhattan and the Bronx, where he would eventually build single family homes, multifamily and commercial properties.
Houlihan purchases several plots of land in the Bronx, New York, and develops multifamily properties and single family homes. Houlihan’s first multifamily endeavor was a complex of seven five-story walk up buildings on East 199th Street in the Bronx, consisting of 102 apartment units.
Second Generation of Houlihans enters the business: brothers Joseph T., Daniel J. and James A. work alongside their father, changing the name of the business to “Daniel Houlihan & Sons.” The company focuses on developing retail and multifamily properties in the Bronx.
Great Depression ushers in new era for the business: As the second generation of Houlihans manages the business during this turbulent time, the company’s focus changes from construction and development to acquisitions and dispositions, leasing and asset management. The Houlihans manage multifamily portfolios for large institutional investors like Metropolitan Life Insurance Company, Prudential Life Insurance Company and Bowery Savings Bank. Federal agency The Home Owners Loan Corp. retains the Houlihans as their exclusive agent in the Bronx.
Cousins Daniel J. and James G. Houlihan, the third generation of Houlihans to work for the business, enter the firm, working with James A., James G’s father, until his death in 1961.
The 1960s were a time of major change for the business: James A. dies in 1961 and the original firm dissolves in 1962. James G. and Daniel J. focus on mortgage financing and sales under the name “Houlihan Mortgage and Realty” out of an office in the Bronx, New York. James G. is elected President of the New York State Association of Real Estate Boards in 1961, succeeding his father, James A., as the first father-son duo to serve as President.
Experienced investor Howard L. Parnes joins the Houlihans, changing the firm’s name to its present iteration, “Houlihan Parnes Realtors.” Parnes specializes in acquisitions and dispositions, and the Houlihans focus on mortgage finance.
Fourth generation of Houlihans, James A.’s sons James J. and Jack, enter the business. In 1973, the company moves from its Bronx roots to Westchester County, New York, settling at 455 Central Park Avenue in Scarsdale. Howard’s sister, Barbara Stahl, also joins the business as a broker. The business specializes in acquisitions and dispositions and mortgage finance for its own portfolio and third-party clients, and converts approximately 40 rental buildings in New York City to “co-op” buildings.
James J. Houlihan, the firm’s current Managing Partner, becomes Partner in 1987. Other family members join the business: Howard’s son Seymour Parnes; James K. Coleman, James J.’s brother-in-law; Howard’s nephews, Fred and Sheldon Stahl; and Jeremiah A. Houlihan.
Howard Parnes leads successful efforts to acquire distressed loan portfolios from the FDIC and RTC, expanding the firm’s portfolio from a primarily New York-based business to a broad, highly successful national platform.
Prudential Life Insurance Company enlists HP to form affiliate JHP, exclusively representing Prudential’s commercial lending platform throughout the northeast United States. JHP, managed by James J. Houlihan, was headquartered in New York, New York, and placed several billion dollars in commercial debt until its dissolution in 2009.
As the firm shifts its focus to long-term equity positions, it forms its own property management affiliate, Metro Property Group, which is now known as Houlihan-Parnes Properties (“HPP”). James K. Coleman manages both HPP and HP Capital, the firm’s private lending affiliate.
Andrew M. Greenspan, formerly of Mack-Cali and Robert Martin Company, partners with Howard Parnes and the Houlihans by forming affiliate GHP, which owns, manages and leases commercial office properties, as well as other commercial asset classes, primarily within the New York metropolitan area. Today GHP owns over 2.5 million sf of commercial space.
HP becomes the founding member and New York representative of iCap Realty Advisors, a national consortium of commercial mortgage brokers. In 2009, HP switches affiliations, and is now the New York member of Q10 Capital, a leading national originator of commercial real estate capital. The firm has originated over $50 billion in capital and services over $12 billion since its formation in 2004. Over 110 finance professionals in 20 offices nationwide are members of the Q10 network.
HP acquires Red Oak Corporate Park in White Plains, and moves their headquarters from Scarsdale to the park.
James J.’s children, the fifth generation of Houlihans, join the business, including Christie L. Houlihan, Esq., Kelly Houlihan Buckley, Meghan E. McEvoy and Bryan J. Houlihan.
HP Mourns the loss of Howard L. Parnes, who dies age 86.
HP celebrates 125th anniversary.