555-565 Taxter Road, Elmsford, NY
February 2019 – Andrew Greenspan and James J. Houlihan of Houlihan-Parnes Realtors, LLC and GHP Office Realty are pleased to announce the placement of an acquisition loan and credit facility totaling $30,500,000 on two properties located at 555-565 Taxter Road, Elmsford, New York. The complex contains a total of 371,224 rentable square feet, which will be managed and leased by GHP Office Realty. The properties are conveniently located 2 miles from the entrance of the Gov. Mario M. Cuomo Bridge and Saw Mill River and Sprain Brook Parkways. The interest only loan was placed with a local bank at an interest rate of 4.625% for an interim term. The loan features a $7 million line of credit to fund building capital improvements and Tenant improvement. The loan has a renewal option and flexible pre-pay schedule. The borrower was represented by Elizabeth Smith of Goldberg Weprin Finkel Goldstein, LLP, as attorney.