58-01 Northern Blvd, Woodside, Queens, NY
December, 2017 – Jeanne Cronin of Q10 New York Realty Advisors, an affiliate of Houlihan-Parnes Realtors, has arranged a $2,100,000 permanent loan on a commercial site strategically located on Northern Boulevard (25A) in Woodside, Queens, NY. The corner site is located just west of the intersection of Northern Blvd. and the Brooklyn Queens Expressway (BQE, I-278). The immediate area along Northern Blvd. is fully improved with a mix of commercial properties and fast food establishment. This section of Northern Blvd. is known for its concentration of car dealerships that line both sides of the boulevard. All the major car companies are represented. The subject site is currently net leased to a well-recognized car dealership that owns and operates numerous car dealerships in the immediate vicinity.
The permanent loan was placed with a NY-based bank for a term of 10-years. The interest rate was fixed at 4.25% for the full 10-year term of the loan. As per Cronin, “the lender worked closely with the borrower in addressing some unanticipated loan issues in an effort to meet the borrower’s needs with regard to the timing of the closing.”
Houlihan Parnes, Realtors, LLC is a privately owned, vertically integrated commercial real estate investment and management firm, with a presence throughout the United States. Owning more than 8.5 million square feet of office, retail and industrial and mixed-use space, the firm also owns or manages approximately 25,000 multifamily units. Founded in 1891 and operated by the fourth and fifth generations of the Houlihan family, the company is headquartered in White Plains, NY. The firm is engaged in acquisition, property and construction management, consulting services, leasing and mortgage brokerage for all commercial real estate asset classes, both for the company’s portfolio and for third parties. Houlihan-Parnes’ mortgage brokerage affiliate, Q10 New York Realty Advisors, is a member of Q10 Capital, LLC, a leading commercial mortgage brokerage consortium with 20 offices in 19 states nationwide. For more information please contact Jeanne Cronin of Q10 | New York Realty Advisors at 914-641-4383 or visit our website at www.q10capital.com or www.houlihanparnes.com