1922 McGraw Avenue, Bronx, NY

September 2019 – Michael Cuniberti and Brian Sullivan of Houlihan-Parnes Properties have arranged first mortgage financing of $2,450,000 along with a line of credit of $250,000 on a 53 unit cooperative located at 1922 McGraw Avenue in the Parkchester section of the Bronx. The property is a multi-tenanted, six-story elevator building including three professional spaces. The refinancing was placed with a New York based bank for 10-year term at 3.15% interest and 30-yr amortization schedule. The loan was done at par with a yield maintenance prepayment penalty. The borrower was represented by Alan Snider, Esq. and title was provided by Madison Abstract.