555 – 565 Taxter Road, Elmsford, NY

December 2019 – Bryan Houlihan, Christie Houlihan and Rachel Greenspan, of Houlihan-Parnes Realtors, LLC and GHP Office Realty, LLC are pleased to announce the placement of a first mortgage in the amount of $35,000,000 on two Class-A buildings located at 555-565 Taxter Road, Elmsford, New York. The complex contains a total of 371,224 rentable square feet, which is managed and leased by GHP Office Realty. The properties are conveniently located two miles from the entrance of the Gov. Mario M. Cuomo Bridge, the Cross Westchester Expressway, New York Thruway, Saw Mill River and Sprain Brook Parkways. Since acquiring the property in early 2019, GHP has significantly improved the two-building complex, commonly known as Taxter Corporate Park. Montefiore Medical Center has committed to a long-term lease of over 127,000 square feet. Other major tenants at the property include Massachusetts Mutual Life Insurance Company, The Coca-Cola Company, Pillinger Miller Tarallo LLP, Schott Corporation, and Nationwide Mutual Insurance Company.

The loan was placed with a national Life Insurance company for a term of 20 years with a fixed interest rate of 3.98 percent. The borrower was represented by Elizabeth Smith, Esq. of Goldberg Weprin Finkel Goldstein, LLP, and the title was ensured by First American Title Insurance Company.