REBusinessOnline

Houlihan-Parnes Secures $50M in Financing for Four Multifamily Properties in New York

POUGHKEEPSIE, HOPEWELL JUNCTION AND MIDDLETOWN, N.Y. — Houlihan-Parnes Realtors has secured the placement of $50 million in first mortgages for four garden-style apartment properties located in New York. Totaling 657 residences, the properties are located at 510 Maloney Road in Poughkeepsie, 228 Route 376 in Hopewell Junction and 644 Silverlake-Scotchtown Road and 100-700 Stratford Lane in Middletown. The loans feature a 4.04 percent fixed rate with interest-only payments for a 10-year term. Robert Tiburzi Jr. and James Coleman of Houlihan-Parnes arranged the financing. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP represented the undisclosed borrower in financing.

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