3427 Jerome Ave Bronx, NY
March 2022: Bryan J. Houlihan of Houlihan-Parnes Realtors, LLC, is pleased to announce the placement of a first mortgage in the amount of $22,7500,000 on an 8,919sf multi-tenanted retail building at 3427 Jerome Ave. The property is owned by long time partners ISJ Management and members of Houlihan-Parnes Realtors and has remained a strong cash-flowing asset despite the strains of COVID-19 pandemic.
Houlihan-Parnes was able to negotiate favorable terms with a local bank for the loan. The loan was placed with a fixed rate of 3.59% with the first 24 months of the 5-year term at Interest Only. The borrowers have the ability to extend the loan for an additional 5 years. The borrower was represented by John Hogan of Goldberg Weprin Finkel Goldstein, LLP.