Houlihan-Parnes Arranges $7.5M Loan for Refinancing of Metro NYC Multifamily Building
WHITE PLAINS, N.Y. — Houlihan-Parnes Properties has arranged a $7.5 million loan for the refinancing of a 56-unit multifamily building located at 177 Grand St. in White Plains, a northern suburb of New York City. The five-story building also houses nine retail units. Jeremiah Houlihan and James Coleman of Houlihan-Parnes placed the loan, which was structured with a five-year term and a 30-year amortization schedule, though Westchester Savings Bank. The undisclosed borrower will use a portion of the proceeds to fund capital improvements.