280 Mamaroneck Ave, White Plains, NY

December 2019 – Jeremiah A. Houlihan and James K. Coleman of Houlihan-Parnes Properties have arranged for the refinancing of the first mortgage in the amount of $3,080,000 for a 3-story brick elevator 28,000 square foot medical office building with a ground-floor real estate office along with on-site parking lot for 60 cars located at 280 Mamaroneck Ave in downtown White Plains, NY.  Located just blocks from the expanding White Plains Hospital/Medical Center, the building is 100% occupied and has undergone renovation with all new LED lighting throughout, new elevator, newly painted roof, pointing, and upgraded electric throughout.

The First Mortgage Loan was placed with a NY Savings Bank for a 7-year term at an interest rate of 3.6% on a 30-year schedule with an option to renew for another 7 years.