177 Grand Street, White Plains, NY

July 2021: Jeremiah A. Houlihan and James K. Coleman of Houlihan-Parnes Properties have arranged 1st mortgage financing in the amount of $7,500,000 for a 5-story elevator steel-framed masonry block & brick apartment building which contains 56 apartments and 9 ground floor stores located at 177 Grand Street in White Plains, NY.  Recent improvements before the refinance include an elevator upgrade, painted hallways, LED lighting throughout, new roof, new gas lines installed for dual fuel heating system, pointing throughout and a renovated Art Deco lobby.

The property is located at the northeast corner of East Post Road and Grand Street is within walking distance to White Plains Hospital and Mamaroneck Avenue. Conveniently located in the heart of the city of White Plains.

The Loan was placed with a Westchester Savings Bank for a 5-year term at a competitive interest rate with a 6-month interest only component on a 30-yr amortization schedule.