Jeremiah A. Houlihan and James K. Coleman of Houlihan-Parnes Properties (HPP) have arranged the refinancing of the first floor of a six-story apartment building containing 10,000 square feet of stores and offices. The property is located at 1018 E 163rd St., across from the Hunts Point Avenue subway station in the Bronx. New York City’s revitalization recently installed sidewalks, roads, bus kiosks and subways.
Houlihan-Parnes Properties arranged a first mortgage loan of $2.85 million from a local lender at 6.75% fixed for 5 years on a 25-year amortization schedule, with a rate adjustment for additional five yrs. HPP also has managed the property since owner’s acquisition in September 2021.
Houlihan-Parnes Properties is a full-service real estate company providing property/asset management, construction management, sales and mortgage brokerage, back-office operations, and real estate consulting.
