Refinancing for Three Retail Properties
77-97 Knollwood Rd, Greenburgh NY
717-725 Saw Mill River Rd, Ardsley NY
41-51 West Fordham Rd, Bronx NY
James J. Houlihan and Bryan J. Houlihan of Houlihan Parnes Realtors, LLC, are pleased to announce the closing of the refinance of three retail properties totaling $9.275 Million. The first property, a 62,000sf ACME grocery anchored shopping center which includes a CVS and a Dunkin Donuts located at 77-97 Knollwood Rd, Greenburgh, NY received a loan of approximately $3.45 million. An 18,417sf CVS anchored strip center in Ardsley (717-725 Saw Mill River Rd, Ardsley NY) received a loan of $1.725 Million. A free standing 8,576sf Walgreen’s Aid located at 41-51 West Fordham Rd, Bronx NY received a loan of $4.1 Million. The properties are all owned by long time partners ISJ Management and Houlihan Parnes Realtors.
Houlihan Parnes was able to negotiate favorable terms for the three loans with a local bank. All three loans will have a fixed rate of 3.5% with the first 24 months of the 5-year term at Interest Only. The borrower has an option to extend each loan for an additional 5 years. The borrower was represented by John Hogan of Goldberg Weprin Finkel Goldstein, LLP.