June, 2017 – Christie L. Houlihan, James J. Houlihan and Andrea Lofaro of Houlihan Parnes Realtors, LLC are pleased to announce the placement of a $21.5 million new first mortgage on the property located at 145 Huguenot Street, New Rochelle, New York.  The property is located at the train station and is in the center of the area that has been designated for development by the municipality.  The property contains 30 tenants with 278,788 square feet for both office and warehouse space.      The main tenants include: State of New York, County of Westchester, Steiner Sports, Monroe College, Benchmark Education, Advent Software, ENT & Allergy Associates, Greenwich Hospital, and Sound Shore Medical Group.

The loan was placed for a term of 10 years on an interest only basis.  Houlihan Parnes was able to negotiate at favorable terms due to less than 50% LTV.  The property has been owned by its present ownership since 2002.  The property has been upgraded with multi million dollars of renovations.  The property enjoys a robust tenant roster.  Since the current owners acquired the property, the property has sat at around a 95% occupancy level.

Partners of Houlihan Parnes are amongst members of the LLC that currently own the property.  Last year, related entities also bought 140 Huguenot which is across the street.

The owners were represented by Elizabeth Smith of Goldberg, Weprin, Finkel & Goldstein, LLP and the title was insured by Chicago Title Insurance Company.