REBusinessOnline

Houlihan-Parnes Arranges $30M Loan for 220,000 SF Office Condo in the Bronx

NEW YORK CITY — Houlihan-Parnes Realtors has placed a $30 million first mortgage on a 220,000-square-foot office condominium at 1775 Grand Concourse in the Bronx. The seven-year, non-recourse loan features a fixed rate with interest-only payments for two years and an option to extend. The mortgage covers a commercial condominium interest in the 300,000-square-foot building that shares ownership with Verizon, which owns the first two floors of the building. Current tenants of the property include Con Edison, Special Citizens Futures Unlimited, Inovalon SME Inc., Safe Horizon, The Bronx Lebanon Hospital Center, Public Health Solutions and Abbott House. Bryan Houlihan and James J. Houlihan of Houlihan-Parnes represented the undisclosed borrower in the transaction.

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