1-3-5 Old Mamaroneck Road, White Plains NY

November 2021: Jeremiah A. Houlihan and James K. Coleman of Houlihan-Parnes Properties have arranged First Mortgage Refinancing in the amount of $3,050,000 secured by a leasehold interest on a 7-story elevator apartment building containing 79 apartments, 12 retail stores/offices and a 60-car parking lot with a courtyard in Downtown White Plains, NY.

The property is located at the corner of Old Mamaroneck Road & Mamaroneck Avenue, with 500 feet of office/retail frontage along the Avenue.

The Loan was placed with a Local Savings Bank for a 5-year term at a 3.25% interest rate with a 24-month interest only component on a 30-yr amortization schedule with a 5-year option to renew.