330 North Terrace, Mount Vernon,NY

January 2021: Jeremiah A. Houlihan of Houlihan-Parnes Properties (“HPP”) has arranged 1st Mortgage acquisition financing for the purchase a 3-story apartment building containing six (6) residential units located at 330 North Terrace Avenue in Mount Vernon, NY.    The property is located near the entrance to the Bronx River Parkway & within walking distance to the Mount Vernon West Train Station (Metro-North Harlem Line). The property was purchased by a local Mount Vernon-based real estate family and HPP arranged a 1st Mortgage Loan in the amount of $450,000 (75% LTV) for a 10-year term at a fixed market interest rate on a 30-year amortization schedule.  The Borrower was represented by the Law Office of Christopher P. Tiso, P.C. in Eastchester, NY.