115-117 Stevens Avenue, Mount Pleasant, NY
May, 2018- Andrew Greenspan and James J. Houlihan of Houlihan-Parnes Realtors, LLC and GHP Office Realty are pleased to announce the placement of an acquisition loan and credit facility totaling $11,000,000 on two properties located at 115-117 Stevens Avenue, Mt. Pleasant, New York. The complex contains a total of 182,630 rentable square feet, which will be managed and leased by GHP Office Realty. The properties are conveniently located 10 minutes from Downtown White Plains and are within close proximity to Interstates 287 and 684. The interest only loan was placed with a local bank at an interest rate of 4.25% for a term of 3 years. The loan features a $2.5 million line of credit to fund building capital improvements and Tenant improvement. The loan has a renewal option and flexible pre-pay schedule. The borrower was represented by Elizabeth Smith of Goldberg Weprin Finkel Goldstein, LLP, as attorney.