120 North Pearl Street, Port Chester, NY
July, 2017- Ed Graf of Houlihan-Parnes Realtors, LLC has arranged for a 1st mortgage re-financing of a newly constructed 50 unit apartment building, located at 120 North Pearl Street, Port Chester, N.Y.
The loan replaced the construction financing. The par loan, in the amount of $13,500,000, was placed for a 5-year term with a 30 year amortization schedule. The interest rate of 3.50% is fixed for the 5-year term. The loan also provides for an additional 5 year option. There is a descending pre-pay privilege. The borrower was represented by Steven Pearsall.