2649 & 2651 Strang Blvd, Yorktown Heights, NY
October 2021: James J. Houlihan, and Andrew Greenspan of Houlihan-Parnes Realtors, LLC and GHP Office Realty, are pleased to announce the placement of $19,800,000 of first mortgage financing on the Class-A 205,339 square foot two building, mixed-use corporate park located at 2649-2651 Strang Blvd, Yorktown Heights NY. Houlihan Parnes Realtors was successful in negotiating beneficial loan terms for the owners with a local bank. The fixed rate loan was placed for a term of 15 years with the initial rate of 3.00% adjusting after the fifth and tenth anniversaries of the loan. Since acquiring the property in 2015, GHP Office Realty has invested substantial capital at the property increasing occupancy from 40% to 90% just prior to the COVID-19 pandemic. GHP Office Realty will be using the funds for a large capital project currently underway in order to accommodate five new tenants, add additional parking, a new fitness center and a brand-new café. Current tenants at the Northern Westchester Executive Park include New York – Presbyterian, Putnam County Savings Bank’s Corporate Headquarters, Northwell Health, and ENT & Allergy Associates. The borrower was represented by John Hogan of Goldberg Weprin Finkel Goldstein, and Title was provided by John Hughes of Great American Title Agency.