140 Huguenot Street, New Rochelle, NY

APRIL 2021: Bryan Houlihan, Christie Houlihan and Rachel Greenspan, of Houlihan-Parnes Realtors, LLC and GHP Office Realty, LLC are pleased to announce the placement of a first mortgage in the amount of $5,250,000 on a Class-A five-story office building in a prime Central Westchester location on a prominent corner of Huguenot Street in Downtown New Rochelle, New York.

140 Huguenot Street is nearly 81,000 square feet with a covered parking garage. The property is conveniently located at the signalized corner of Huguenot Street and Harrison Street, adjacent to New Roc City, and less than a mile from both Exit 16 of Interstate 95 and the New Rochelle Intermodal Transportation Center. The property and the 288,000 square foot office building across the street, 145 Huguenot Street, are managed and leased by GHP Office Realty.

The United States General Services Administration Social Security Office just signed a renewal and expansion within the building. The new lease will run for 15-years on two floors of the highly trafficked property. Other tenants in the building include tenants in various industries including Mary Ann Liebert, Inc. and The Guidance Center of Westchester.

The loan was placed with a renowned local bank for a term of 15 years on a 30-year amortization schedule. The rate is fixed at 3.75% for 10 of the 15 years. The rate for the final 5 years will be determined by the greater of the fixed rate and the 5-year FHLBNY advanced rate.  There is a flexible tiered prepayment schedule on the deal. The borrower was represented by John Hogan of Goldberg Weprin Finkel Goldstein, LLP, and the title was ensured by John Hughes of The Great American Title Agency, Inc.