29 Herkimer Street, Brooklyn, NY

February 2020 – Ed Graf of Houlihan-Parnes Realtors, LLC has arranged for 1st mortgage re-financing of a 3-unit apartment building, located at 29 Herkimer Street, Brooklyn, N.Y.

The non-recourse loan of $950,000 was placed with a New York area lender for a 7-year term and 30-year amortization schedule. The interest rate of 4.65% is fixed for the 7-year term with a declining prepay option and the borrower has an additional 5-year option.