Jeremiah A. Houlihan and James K. Coleman of Houlihan-Parnes Properties (“HPP”) have arranged the refinancing of the 1st floor of a 6-story apartment building containing 10K square feet of stores/offices with 300+ feet of retail frontage on the first Floor of a 6-story elevator apartment building located at 1018 E 163^rd St, on southwest corner of Southern Boulevard, across from Hunts Point Avenue subway platform entrance (#6) in one of the busiest locations in the Bronx.  NYC’s revitalization recently installed sidewalks, streets, public bus kiosks and subway platform entrances;  the Bruckner Expressway is completing its decade-old redevelopment.  The property boasts new storefronts, & building-wide capital improvements.

HPP arranged a first mortgage loan of $2,850,000 from a local bank at a market interest rate fixed for 5 yrs on 25-yr amortization schedule, with rate adjustment for additional 5 yrs.  HPP also manages the property since owner’s acquisition in September, 2021.

Houlihan-Parnes Properties is a full-service real estate company providing property/asset management, construction management, sales and mortgage brokerage, back-office operations, and real estate consulting. We specialize in the management of co-ops/ condos, residential, retail, and mixed-use properties. Our dedication to providing our clients with top-level hands-on management has made us successful in building equity and wealth for our clients through the assets we manage. For further information please contact James K. Coleman at (914)-641-4336, jcoleman@houlihanparnes.com or Michael Cuniberti at (914)-641-4355, mcuniberti@HPRealEstate.com.