925-929 Yonkers Avenue, Yonkers, NY
February, 2017- Jeremiah A Houlihan of Houlihan Parnes Realtors, LLC is pleased to announce the arrangement of a 1st mortgage loan in the amount of $850,000 on a mixed use building located at 925-939 Yonkers Avenue across the street from the Empire City Casino in Yonkers, NY. The property consists of a 2-story building with the Clairmont Diner on the 1st floor and 3 apartments on the 2nd floor as well as an attached 1-story building containing an automobile service station.
Jerry also arranged a 1st Mortgage loan in the amount of $1,250,000 on a 1-story retail strip center located at 148-164 East Route 59 in Nanuet, NY. Tenants include Empire State College, Sterling Optical and Bach-to-Rock music school.
The loans were placed with Savings Banks for 10-year terms at prevailing interest rates on 25-yr amortization schedules. The Lenders charged a 0.5% commitment fee and the loans have sliding scale prepayment penalties.