Deals > Mortgages

25 buildings in 10 states
Amount: $153,000,000 Houlihan-Parnes / iCap Realty Advisors, LLC, announces today that they have arranged acquisition financing for a portfolio consisting of twenty-five office and industrial properties in 10 states (NY, MA, FL, MD, IN, IA, TX, CA, PA, IL) totaling 2,400,000 square feet of space. We have arranged $153,000,000 of acquisition financing. The deal is highly structured and features maximum flexibility to allow for the re-development and/or disposition of the assets on an individual basis. The purchaser was represented by Thomas Leslie and Greg Murphy of Thacher Proffitt & Wood. James J. Houlihan and Andrew M. Greenspan, of GHP Office Realty, handled this transaction.
29 Thanet Circle in Princeton, New Jersey
Amount: $13,320,000 Gus Costaldo, of Houlihan-Parnes/iCap Realty Advisors, LLC is pleased to announce the placement of a $13,320,000 permanent loan for the refinancing of 29 Thanet Circle, Princeton, NJ, a 53,000 SF office building in the Route US-1Princeton corridor. The loan terms consist of an interest only, fixed rate of 5.76% (96 basis points over the 10 year U. S. Treasury) with a 10 year term. The loan represents 80% of the appraised value. The 29 Thanet Circle building was acquired during February 2004 by GHP Office Realty, headquartered in White Plains, NY. GHP completed a 100% renovation during 2006 and the building is fully leased with Church & Dwight Co. Inc. (Arm & Hammer) leasing 41,220 SF for 16 years and two five year options at FMV. The building is owned and operated by GHP Office Realty, the office building division of Houlihan-Parnes/iCap Realty Advisors, LLC which is presently one of the New York area’s leading owners, operators and purchasers of suburban, Class A office space. The partnership owns and manages over 5,000,000 square feet in 94 different properties in the tri-state area. Major multi-tenanted properties are located in Westchester, Rockland and Nassau Counties in New York. Additional holdings extend from Fairfield County, CT to Princeton, NJ.
602 Apartments in 13 Locations
Amount: $11,920,000 Ed Graf and Ted Sannella of Houlihan-Parnes/iCap Realty Advisors, are pleased to announce the placement of a $11,920,000 first mortgage for the acquisition of a multi-family portfolio, consisting of 602 apartments. The package consists of 13 locations: Binghamton, Endicott, Endwell and Johnson City. The non-recourse, par loan is fixed for five years, with interest only for the initial two years. Second mortgage financing is permitted. The pre-payment in Upstate New York is allowed from day one. The borrower was represented in the transaction by Steven Tierney of Woods, Oviatt, Gilman L.P.P.
Route 20 Patterson, NJ
Amount: $11,300,000 Gus Costaldo, of Houlihan-Parnes/iCap Realty Advisors LLC is pleased to announce the placement of a $11,300,000 first mortgage permanent loan to finance a 20,000 sq. ft. Pep Boys store and a 32,500 sq. ft. Micro Center on Route 20, Patterson NJ. The 15 year, fixed rate permanent loan represents 75 % of the appraised value with a 30 year amortization period. The lender provided the borrower with a fifteen month forward rate loan structure during the construction period which fixed the rate and guaranteed the full loan proceeds.
310-330 Lenox Road Brooklyn, New York
Amount: $7,850,000 Houlihan-Parnes/ iCap Realty Advisors, LLC is pleased to announce the placement of a $7,850,000 underlying first mortgage on the co-operative apartment complex known as The Gentry Apartments in Brooklyn, New York. The loan is fixed at 5.35% for ten years, equivalent to 76 basis points over 10-year Treasuries, with monthly payments of interest only. There was no fee to the Lender and no escrow deposits are required. The property consists of two 6-story buildings with 247 co-operative units and an underground parking garage. The Borrower was represented in the transaction by Krista Halpin of Kurzman Karelsen & Frank LLP.
Northampton, Massachusetts
Amount: $7,000,000 Ted Sannella of Houlihan Parnes/iCap Realty Advisors, LLC has arranged a mortgage in the amount $7,000,000 for 70,000 square foot retail building with 45 tenants located in Northampton, Massachusetts. The loan is a five year fixed rate loan based on a 25 year payout with 2 years interest only.
1410-1416 Manhattan Avenue in Union City, NJ
Amount: $6,000,000 Dave Rabinowitz and James K. Coleman of Houlihan Parnes/iCap Realty Advisors recently placed private financing on a premier development high-rise site located at 1410-1416 Manhattan Avenue in Union City, NJ. This 27,000 square foot property is located on the eastside of Manhattan Avenue and sits on the Palisades overlooking the Hudson River with an unobstructed view of New York City. The owner has recently succeeded in having the zoning amended to allow for the construction of an 18 story building containing 90 units with a total of 120,000 square feet of residential space plus 90,000 square feet for parking. The total financing package of $6,000,000 included a first mortgage of $4,200,000 and 2nd mortgage of $1,800,000. The loans called for a fixed rate of interest for 1 year with interest only payments for the entire term of the loan. The loans were placed privately with a group of investors brought together by HP CAPITAL, LLC, a subsidiary of Houlihan-Parnes. Elizabeth Smith of Goldberg, Weprin & Ustin handled legal matters for the lenders.
490 Westport Avenue, Norwalk, CT
Amount: $5,800,000 Gus Costaldo, of Houlihan-Parnes/iCap Realty Advisors LLC is pleased to announce the placement of a $5,800,000 first mortgage interim loan to finance the acquisition of a 7,400 sq. ft. Ski Market store and a 40,140 sq. ft. Fitness and Tennis Center on Westport Avenue (US I), Norwalk, CT. The 5 year, floating rate interim loan floats at 135 BP over one month LIBOR and the lender has the option to fund a $400,000 earn out in six months.
Howard Johnson's - 1114 East Putnam Avenue, Greenwich, CT
Amount: $5,000,000 An interim loan for the acquisition of a Howard Johnson Hotel has been arranged. The 2-story hotel consists of 104 rooms located in Greenwich, CT. The three year, limited recourse loan has a floating interest rate of 200BP over 30 day LIBOR, interest only and can be prepaid without a penalty.
3465 & 3393 Broadway, New York, NY
Amount: $4,800,000 The placement of $4,800,000 in first mortgage financing on two 6-story elevator apartment buildings with stores took place. 3465 Broadway is at the corner of West 141st Street and 3393 Broadway at West 138th Street in upper Manhattan. Both non-recourse loans were fixed at 5% for five years on a 30-year amortization schedule. 3465 Broadway has 6 stores on Broadway and 33 residential units. 3393 Broadway has 5 stores on Broadway and 32 residential units.
2020 Central Avenue, Yonkers, New York
Amount: $4,400,000 Jerry Houlihan and James Coleman of Houlihan Parnes/iCap Realty Advisors, LLC are pleased to announce the placement of an institutional first mortgage in the amount of $4,400,000 for the financing of the acquisition of a one and part two-story and basement concrete and masonry commercial building containing 17,650 square feet above grade with on-site parking for 45 cars. The property is located on Central Park Avenue in Yonkers, one of Westchester County’s busiest retail vehicular arteries. The loan was placed with a New York based Savings Bank at a floating interest rate at 2% above the LIBOR index for a 3-year period. The loan is payable interest only monthly and contains no penalty for prepayment.
727 Commack Road, Brentwood, NY
Amount: $4,000,000 Houlihan-Parnes/ iCap Realty Advisors, LLC is pleased to announce the placement of a $4,000,000 first mortgage on the 60,000 sf neighborhood shopping center known as Brentwood Plaza in Long Island, New York. The loan is fixed at 6% for ten years, with monthly payments of interest only for 5 years and 30-year amortization thereafter. There was no fee to the Lender and no escrow deposits are required. The property consists of 19 stores anchored by a Compare Foods supermarket. The Borrower was represented in the transaction by Aubrey Riccardi of Goldberg Weprin & Ustin LLP, and title was provided by Phil Linz of Stewart Title.
801 Encino Place NE, Albuquerque, NM
Amount: $3,960,000 Ed Graf and Ted Sannella of Houlihan-Parnes/iCap Realty Advisors, LLC has arranged first Mortgage financing for the acquisition of Medical Arts Square, a medical office property consisting of 51,800 square feet, located at 801 Encino Place NE, Albuquerque, NM. The loan of $3,960,000 was placed for a term of five years, with interest only payments for the first two years. The interest is fixed at 5.89% for the five years. The securitized loan allows for a pre-payment penalty of 2% after year three and 1% after year four.
Albany, New York
Amount: $3,150,000 Ed Graf of Houlihan Parnes/iCap Realty Advisors, LLC has arranged 1st Mortgage re- financing for 40 2-story walk-up buildings with a total of 94 apartments located at 105-44 Green Street, 63-105 Herkimer Street, 94 Madison Avenue, 51-71 South Ferry Street and 44-77 Westerloo Street, Albany, New York. The loan was placed for a ten year term with a 30 year amortization schedule with a fixed interest rate for seven years. The re-finance loan is for $3,150,000 The sum of $2,550,000 was advanced at closing, the balance will be disbursed as an earn-out. $450,000 of the earn-out has already been disbursed, three months after the closing. The lender charged no commitment fee.
387-391 Main Street, Pughkeepsie, New York
Amount: $3,150,000 Jerry Houlihan of Houlihan-Parnes/iCap Realty Advisors, LLC has arranged first mortgage financing in the amount of $3,150,000 for the acquisition of a 5-story 35,000 square foot office building located on Main Street in downtown Poughkeepsie, N.Y. The property is within close proximity to all of the city’s amenities, public library, court house and the Poughkeepsie train station. The building is fully leased to the Dutchess County Board of Health. It has offices for the County’s environmental and structural engineers as well as medical offices for the public. The building has been recently renovated with a new roof and new stucco on the exterior as well as a new emergency generator and heat exchangers on the interior. All of the offices and common areas have been newly carpeted and painted. The loan was placed with a Long Island based Savings Bank at a market interest rate fixed for 5 years on a 10 year term payable interest only for 2 years with the remaining 8 years payable on a 25-yr amortization schedule.
Panorama Trail South Rochester, NY
Amount: $3,100,000 Dave Rabinowitz and James K. Coleman of Houlihan-Parnes/iCap Realty Advisors, LLC have arranged a private first mortgage for 5.67 acres of land in Penfield (Rochester), NY in the amount of $3,100,000. The land as been approved for the construction of a 158 room Hilton Garden Inn as well as an 82 room Main Stay Suites hotel. A 12 month bridge loan was placed with a group of investors from H-P CAPITAL, LLC, an affiliate of Houlihan-Parnes/iCap Realty Advisors, LLC. This loan will allow the borrowers to finalize their investment group and obtain institutional construction financing. The property is located at the Panorama Trail South exit of Route 441 with direct access to Interstate 490 and the entire Rochester SMSA. The site is located in very close proximity to a new Home Depot shopping center as well as the national corporate headquarters of Paychex. Additionally, there are three prestigious country clubs and two corporate parks with nearly 2,000,000 square feet of modern office space within a 2 mile radius of the property.
123 West 15th Street New York, New York
Amount: $2,800,000 James Coleman and David Rabinowitz of Houlihan Parnes/iCap Realty Advisors, LLC have arranged a private first mortgage loan of $2,800,000 at 123 West 15th Street New York, New York. The property is currently a 4-story walk-up SRO building. The owner has filed plans with the City of New York to add an additional 3 floors on top of this property and convert the building to a condominium. The property is located between 7th & 8th Avenue in the Chelsea section of Manhattan. The area has undergone a regentification in the past several years and renovations and new residential construction have taken place on this street. The funding of this loan enables the owner to complete the initial work needed to convert the property to condominium status. The lender was represented by Andrew Albstein of Goldberg Weprin & Ustin.
930 Kirkland Parkway South, Kirkwood, NY
Amount: $2,480,000 Ed Graf of Houlihan Parnes/iCap Realty Advisors, LLC has arranged 1st Mortgage financing for the acquisition of a 119 unit multi-family property located at 930 Kirkwood Parkway South, Kirkwood, NY. The loan was placed for a ten year term with a 30 year amortization schedule with a fixed interest rate for three years. The loan is for $2,480,000 and represented 80% of the purchase price. At the time of purchase, the property had 24 units down. The lender charged no commitment fee. The prepayment premium is 2% the first year, 1% the second year, and 0% the 3rd year.
11-33 Court St. Newark, N.J.
Amount: $2,240,000 Jerry Houlihan and Jim Coleman of Houlihan Parnes/iCap Realty Advisors, LLC is pleased to announce the placement of an private first mortgage in the amount of $2,240,000 for the acquisition of a 21,000 sf masonry one-story shopping center located 11-33 Court Street in Newark, New Jersey. The building was built in the late 1980’s and it containing 12 retail stores and on-site parking for approximately 60 vehicles. The loan facilitated the acquisition of the property from the City of Newark who had been managing it due to non- payment of taxes by the previous owner. It was funded as a bridge loan for a 1-year period so that the new owners can reposition the property and take advantage of the increase in its value. The loan was placed with a Lender through the private-financing arm of HP/iCap. Robert Loshciavo of Goldberg, Weprin, & Ustin represented the lender in this transaction.
Binghamton, New York
Amount: $2,120,000 Ed Graf of Houlihan-Parnes/ iCap Realty Advisors, LLC has also arranged 1st Mortgage financing for the acquisition of 111 apartments located at 97-99 Oak Street, 101-103 Murray Street, 12 Grand Boulevard, and 89-95, 126-128 and 157-162 Chapin Street, Binghamton, New York. The loan was placed for a ten year term with a 30 year amortization schedule with a fixed interest rate for for three years. The loan is for $2,120,000 and represented 80% of the purchase price. The lender charged no commitment fee. The prepayment premium is 2% the first year, 1% the second year, and 0% the third year.
201-205 Park Ave., Albany, New York
Amount: $2,025,000 Ed Graf of Houlihan-Parnes/ iCap Realty Advisors, LLC has also arranged 1st Mortgage re-financing for 46 residential units located along 201-205 Park Ave., Albany, New York. The loan was placed for a ten year term with a 30 year amortization schedule with a fixed interest rate for seven years the loan is for $2,025,000. The lender charged no commitment fee.
Bridgeport, Connecticut
Amount: $1,976,400 Jerry Houlihan of Houlihan-Parnes/iCap Realty Advisors, LLC has arranged first mortgage financing in the amount of $1,976,400 for the acquisition of two three-story brick apartment buildings in Bridgeport, Connecticut. The property is situated on a 1-acre lot located at the westerly blockfront of East Main Street between Pearl and Putnam Streets. It contains 45 residential units, on site parking for about 20 cars and a vacant tract of land which allows another building to be built there. Features include a brand new roof and a new heating system, marble stairwells in common areas and hallways, laundry facilities, and hardwood floors in all apartments. The loan was placed with a Savings Bank at a market interest rate fixed for 5 years on a 30 year term payable interest only for 3 years with the remaining 2 years payable on a 30-yr amortization schedule.
40 Garden Street, Poughkeepsie, NY
Amount: $1,850,000 Jerry Houlihan of Houlihan-Parnes/iCap Realty Advisors, LLC has arranged first mortgage financing in the amount of $1,850,000 for the acquisition of a 5-story 27,000 square foot office building in downtown Poughkeepsie, N.Y. The property is located at 40 Garden Street at the southwest corner of Mill Street (Route 44) and Garden Street and contains on-site parking The buildings’ tenants include Stewart Title, Chase Bank & the Poughkeepsie Teachers union The loan was placed with a Long Island based Savings Bank at a market interest rate fixed for 5 years on a 10 year term payable interest only for 2 years with the remaining 8 years payable on a 25-yr amortization schedule.
49 Sunset Avenue Westhampton Beach, New York
Amount: $1,625,000 Ed Graf of Houlihan Parnes/iCap Realty Advisors, LLC has arranged 1st Mortgage financing for the acquisition of a mixed-use 5,000 SF building located at 49 Sunset Ave., Westhampton Beach, New York. The Nonconforming loan was placed for a one year term, interest-only, with a 1 year option to re-new. The loan is for $1,625,000 and represented 77% of the purchase price. At the time of purchase, the property was vacant. The 2 story mixed-use building consists of a restaurant/coffee bar downstairs and a 3 bedroom apartment upstairs.
505 South Second Avenue, Mount Vernon, NY
Amount: $1,525,000 Jerry Houlihan of Houlihan-Parnes/iCap Realty Advisors is pleased to announce the arrangement of a $1,525,000 1st mortgage following the acquisition of a 5-story brick walk up apartment building located at 505 South Second Avenue in Mount Vernon, N.Y. The building is located at the southeast corner of Sanford Boulevard and South Second Avenue near the Pelham border in Mount Vernon. It contains 39 apartments, 2 retail stores, storage, and laundry facilities. The features a rate fixed for seven years on a 30 year amortization schedule with a 5- year option to renew at market interest rates. There was no commitment fee paid to the Lender.
Six stores located in New York and Connecticut
Amount: $1,500,000 Gus Costaldo of Houlihan-Parnes/iCap Realty Advisors, LLC has arranged a $1,500,000 permanent loan for the Knoyzz Clothing Company. Knoyzz has six stores located in Rye Brook and Mount Kisco NY, Westport, Greenwich, New Canaan, and Glastonbury, CT. The eight year loan features interest only for the first year and can be prepaid without a penalty.
762 State Route 28, Oneonta, New York
Amount: $1,406,000 Ed Graf of Houlihan-Parnes/iCap Realty Advisors, LLC has arranged first Mortgage financing for the acquisition of a one story retail building, containing 5,300 square feet, located at 762 State Route 28, Oneonta, N.Y. The loan of $1,406,000 was placed for a term of ten years, with interest only payments for the first two years.
109 Avenue, Ozone Park, New York
Amount: $1,200,000 Jerry Houlihan and James Coleman of Houlihan Parnes/iCap Realty Advisors, LLC are pleased to announce the placement of a private first mortgage in the amount of $1,200,000 for the refinancing of four two-story buildings containing 4 commercial stores and four 2-bedroom apts. The property is located on the corner Rockaway Boulevard and 109th Avenue in the Ozone Park of Queens. The loan is payable monthly with interest only payments and is for a 1 year term. It contains no prepayment penalty after 6 months of interest payments.
7 Elm Place Rye, New York
Amount: $1,100,000 Jim Coleman of Houlihan Parnes/iCap Realty Advisors, LLC has arranged a private first mortgage in the amount of $1,100,000 for the acquisition of a one story retail building located at 7 Elm Place Rye, New York. The property was purchased by the existing retail tenant for a long term investment. The tenant was able to take advantage of a unique opportunity to purchase the property on a very quick turn around as a result of having this type of bridge financing available to him. This purchase enables the tenant to plan for the long term without fears of losing its lease within a few years. The loan is for a one year period with flexibility to extend or prepay in order to secure long term financing. Marc Saidel of Yorktown Heights represented the lender
151 Ludlow Street, Yonkers, New York
Amount: $1,050,000 Jerry Houlihan of Houlihan Parnes/iCap Realty Advisors, LLC is pleased to announce the placement of an institutional first mortgage in the amount of $1,050,000 for the financing of the acquisition of a 3-story 30,000 square foot industrial brick building at the corner of 151 Ludlow Street at the corner of Bridge St in Yonkers. The property is located just a few blocks south of the redevelopment zone of downtown Yonkers The loan was placed with a fixed interest rate for the first 5 years of a 10-year term on a 30-yr amortization schedule. The Lender charged no commitment fee and the loan allows for flexible prepayment.
45-02 30th Avenue Astoria, NY
Amount: $910,000 Jerry Houlihan of Houlihan Parnes/iCap Realty Advisors, LLC is pleased to announce the placement of an institutional first mortgage in the amount of $910,000 for the refinancing of a 3-story retail and residential brick building at the corner of 30th Avenue and 45th Street in Astoria, NY. The building is home to the “Quays” Irish pub, where a part of the movie “The Bronx Tale” was filmed. The loan was placed with a Savings Bank at a fixed interest rate of 6 1/4% fixed for the first 5 years of a 10-year term on a 30-yr amortization schedule. The Lender charged no commitment fee and the loan allows for prepayment on a declining basis
340 Putnam Avenue, Bridgeport, Connecticut
Amount: $875,000 Jerry Houlihan of Houlihan-Parnes/iCap Realty Advisors is pleased to announce the placement of a1st mortgage financing in the amount of $875,000 which enabled a Stamford based buyer to purchase an 18-unit, 3-story concrete apartment building, built in 1991, for a price of $1,250,000. The property is located at 340 Putnam Street, Bridgeport, Connecticut. The loan closed with an interest rate of 6.15% fixed for 10 years on a 30 year amortization schedule. There was no fee paid to the lender.
225 E. 111th Street, New York, New York
Amount: $800,000 Jim Coleman of Houlihan Parnes/iCap Realty Advisors, LLC has arranged a private first mortgage loan in the amount of $800,000 for the purchase of a vacant parcel of land located at 225 E. 111th Street in the East Harlem section of Manhattan. The purchaser of the property will be completing plans to construct a seven story condominium building which will consist of 12 loft style apartments. The land is located in an area that has already seen renovations to existing apartment buildings, brownstones, and new construction. The loan was made for a 1 year term and the lender was represented by Mike Lynch of Lynch and Associates.
930 Kirkland Parkway South, Kirkwood, NY
Amount: $750,000 Ed Graf of Houlihan-Parnes/iCap Realty Advisors, LLC has arranged 2nd mortgage financing for $750,000 for a 119 unit multi-family property located at 930 Kirkwood Parkway South, Kirkwood, New York. The loan was placed for a 10 term with a 30 year amortization schedule with a fixed interest rate for 3 years. The loan features a favorable pre-payment option. The 2nd mortgage loan was placed 7 months after acquisition, by the same bank that did the 1st mortgage.
Clonharragh in the seaside town of Duncannon in County Wexford, Ireland
Amount: $600,000 James Coleman of Houlihan Parnes/iCap Realty Advisors, LLC and Randi Rosenblatt of Gold and Rosenblatt have arranged a private first mortgage loan of $600,000 on a 9.1 acre plot of land located in Clonharragh in the seaside town of Duncannon in County Wexford, Ireland. The loan is a short term bridge loan giving the owner the opportunity to reposition the land. At the present time the value of the land, as it sits, is $1,800,000. This land will have great value in the years to come and will eventually have houses built overlooking the Irish Sea. Hugh Finnegan of Sullivan and Worester along with Irish co counsel represented the lender.
345 Railroad Avenue Bridgeport, CT
Amount: $590,000 Jerry Houlihan and James Coleman have placed another private 1st mortgage in the amount of $590,000 for the acquisition of a 33,000 sf warehouse building located at 345 Railroad Avenue in Bridgeport, CT. The property is a 3-story brick building that containing 2 tenants that use the leased spaces for storage and distribution. There are 2 loading bays, a freight elevator, and onsite parking. The funding of the loan enabled the buyer to close quickly and begin the repositioning of the asset. Steven Pearsall of Gabroriault & Pearsall, PC represented the lender.
53 Bonnie Brook Road, Westport CT
Amount: $500,000 James Coleman of Houlihan Parnes/iCap Realty Advisors, LLC has arranged a second private mortgage loan of $500,000 in conjunction with the purchase and renovation of a single family residence located at 53 Bonnie Brook Road. The house will undergo a large expansion and renovation which will result in 5,000 square foot residence with 5 bedrooms and 3.5 baths. The loan was made for a one year term and enables the developer to enhance the features of the house. The lender was represented by Lisa Gioffre of Gioffre and Gioffre of Purchase, N.Y.
171 River Street, Troy, New York
Amount: $275,000 David Rabinowitz of Houlihan Parnes/iCap Realty Advisors, LLC also has arranged a private first mortgage loan of $275,000 on 171 River Street located in the up and coming Water Front District of Troy, NY. The property is a brick 4 story loft- warehouse building, originally built in 1880 containing a total of 25,800 square feet. The building will be converted into retail and residential use.The first mortgage used for acquisition was an interest only fixed rate mortgage with a term of 12 months with no pre-payment for the first 6 months. The lender was represented by Brian Goldberg, Esq. and Joshua Deutsch, Esq. of Deutsch & Schneider of Glendale, NY.
1832 Wallace Avenue, Bronx, New York
Amount: $225,000 David Rabinowitz of Houlihan Parnes/iCap Realty Advisors, LLC has arranged a private first mortgage loan of $225,000 on 1832 Wallace Avenue in the Morris Park area of the Bronx. The property is a three family detached house that the borrower plans to renovate. The first mortgage/bridge loan was an interest only fixed rate mortgage with a term of 12 months with no pre-payment for the first 3 months. The borrower was represented by Kathleen Bradshaw, Esq. of the Bronx. The lender was represented by Joshua Deutsch, Esq. of Deutsch & Schneider of Glendale, NY.
115 Main Street & 19 Seabreeze Avenue, Westhampton, NY
Amount: $200,000 Ed Graf of Houlihan-Parnes/iCap Realty Advisors, LLC has arranged a private second mortgage loan of $200,000, which will be a blanket loan on two Westhampton Beach properties: 115 Main Street, a 2-story wood frame mixed use building with 3 retail tenants on the ground floor and 2 apartments on the second level, and 19 Seabreeze Avenue, a 1 story wood frame 13 unit motel. The loan of $200,000 was placed for a term of one year, with interest only payments. Prepayment is allowed after 6 months with no penalty.
49 Sunset Avenue Westhampton Beach, New York
Amount: $100,000 Ed Graf of Houlihan-Parnes/iCap Realty Advisors, LLC has arranged a private second mortgage on a mixed-use 5,000 square foot property, located at 49 Sunset Blvd., Westhampton Beach, New York. The 2 story, steel-frame/block construction building consists of a coffee shop a bait shop on the first floor. The 2nd story has a 2 bedroom apartment. The loan of $100,000 was placed for a term of one year, with interest only payments. Prepayment is allowed after 6 months with no penalty.
Houlihan-Parnes/iCap Realty Advisors help support troops
Amount: Mortgage For the past three years Houlihan-Parnes/iCap Realty Advisors in White Plains, New York has implemented a company-wide effort to support our American troops deployed overseas. The program, which has no political ties, is spearheaded by real estate broker, Richard Slavin and property manager Patrick Harris, Retired Army Major. The support effort consists of sending snacks, magazines, books, personal care items, and other little bits of comfort to give the fighting men and women who sacrifice so much a morale boost. Mr. Slavin collects and organizes the items being donated from people throughout the company and packages them while Retired Army Major Harris, a West Point graduate, handles the communication and the shipping. Houlihan-Parnes employees are very proud of their related service men and women. Retired Major Harris’s daughter, First Lieutenant Jacqueline Harris, served in Iraq with the 62nd Engineering Battalion, attached to the 4th Infantry Division, in Iraq until December 2006. Army Sgt. Vladimir Maicovski, son of Susan Maicovski, Houlihan-Parnes Controller, served overseas in the initial invasion of Iraq. Capt. Joseph M. Capasso, US Air force, brother of Nicole Capasso, broker, served 1 tour in Afghanistan and 2 tours in Iraq. SFC John F. Holmes, NY Army National Guard, 42nd Infantry Division, is a brother of Keith Holmes, Vice President of Houlihan-Parnes entity, Coolidge Equities. Other troops that are relatives of Houlihan-Parnes employees that have recently served overseas include Marine 1 LT John Naughton, Lance Corporal Alexander Walter Black, Specialist E4 Forward Observer Damien Bradley, PFC Isis Bradley, and Marine Capt. Matthew R. McInerney. GHP Office Realty, a subsidiary of Houlihan-Parnes, is extremely proud to have Lance Corporal Thomas Judge of the USMC Reserve working as a valued employee. Tom volunteered to deploy with 1st Bn 25th Marines to Falluja, Iraq. He served there as a machine gunner until he returned home in October 2006. He is currently assigned to 2nd Bn 25th Marines. Feedback from the troops has been tremendous. They have sent thank you cards, letters, pictures, certificates and flags. Houlihan-Parnes has received plaques from the 1st Battalion and 5th Infantry “Bobcats”, a flag and framed certificate from the 1-25 Stryker Brigade Combat Team, and a framed photo with an engraved title insert from the “Silver Eagles” VMFA-115. The 219th Support Group in Afghanistan sent a flag from Operation Enduring Freedom with a plaque just for Mr. Slavin. No matter what political view you endorse, we should all agree that the men and women serving overseas to protect our freedom are most worthy of our appreciation, support and prayers.
Fortieth Anniversary of the Partnership of Houlihan-Parnes
Amount: Mortgage Houlihan-Parnes/iCap Realty Advisors recently celebrated the Fortieth Anniversary of the Partnership of Houlihan-Parnes. The alliance was formed on March 17, 1967 when Howard L. Parnes joined James G. Houlihan and Daniel J. Houlihan as partners in the already established Houlihan family firm, creating what is now known as Houlihan-Parnes/iCap Realty Advisors. Howard Parnes’ entrance into the Houlihan family business, formed in 1891, created a renewed emphasis on the ownership and the investment phase of the business. The fortieth anniversary celebration, held at the Houlihan-Parnes/iCap Realty Advisors office in White Plains, paid tribute to partners, James G. Houlihan and Howard L. Parnes, and Kathrene Houlihan, widow of Daniel J. Houlihan, partner emeritus. In addition, the company held an employee recognition ceremony. Employees who have worked for Houlihan-Parnes for more than ten years received awards in recognition of their service. Remarkably, twenty-three people have been with the firm for over ten years and two of them, Richard Slavin and Barbara Stahl, have been with the firm for over 30 years! Five employees have been with the firm for 25 or more years as well. Houlihan-Parnes attracts people with a high level of resourcefulness, skill, intelligence, enthusiasm, and talent. It is a firm that people stay with for many reasons. The name Houlihan-Parnes/iCap Realty Advisors, with its strong family history and its stellar reputation, is synonymous with integrity, excellence, and professionalism. Current partners James G. Houlihan, Howard L. Parnes and James J. Houlihan, are proud to celebrate their staff’s loyalty and success.

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