60 & 70 High Street, East Haven, CT
December 2020 – Jeremiah A Houlihan and James K Coleman of Houlihan-Parnes Properties have arranged Acquisition First Mortgage Financing in the amount of $2,397,500 for the purchase of two 3-story apartment buildings containing 36 units located at 60 & 70 High Street, East Haven, CT 06512. There is on-site parking for both adjoining properties. I-95 & shopping centers are within less than a ¼ mile of the properties.
The Property was purchased by an Investment Group based in White Plains, NY. This acquisition will add to their portfolio of several hundred residential units in New York & Connecticut.
The Financing Package was placed with a NY Savings Bank for a 10-year term on a 30-yr amortization schedule with a fixed interest rate for 7 years and a fixed interest rate adjustment for the remaining 3 years.