147-25 Northern Blvd., Queens, NY-11222 37th Avenue, New York, NY

April, 2017- Zeev Douek of Q10 New York Realty Advisors, an affiliate of Houlihan-Parnes Realtors, arranged financing in the amount of $29.3 Million for 2 Queens apartment buildings. The buildings consist of a total of 240 units and offer a mix of Studios, 1-BR, & 2-BR units. The loans were placed with a NY-based bank. The interest rate for both loans was fixed at 3-3/8% for 5-years and provided for a cash-out refinance of approximately $6 Million. “Both loans were tailored to the borrower’s specific financing needs by locking into a favorable, low interest rate loan and allowed for the distribution of cash to accommodate the borrower’s strategy” said Douek. “The lender recognized the strong performance of the buildings which have historically performed at near full occupancy and have generated consistent growth in income year after year.”