Houlihan-Parnes Arranges Nearly $4M In Mortgage-Bridge Loans in NY Region

Real Estate In-Depth | February 2019

WHITE PLAINS—Jerry Houlihan of Houlihan-Parnes Properties, with its affiliate mortgage servicing company H-P Capital LLC, reported recently it has arranged the placement of first mortgage bridge loans for the following properties in the New York/Connecticut area:

• A $550,000 first mortgage loan on a 4,000 square foot diner in Yonkers on the Bronx border.

• $1.09 million in first mortgage loans for two houses in Fairfield County, CT that will be torn down and completely rebuilt.

• A $1.35-million first mortgage loan for a gut renovated four-story apartment building containing two ground level stores and six apartments in the redevelopment district of Downtown Yonkers.

• A $340,000 first mortgage loan on a three-family house in the Fleetwood section of Mount Vernon.

• A $600,000 first mortgage loan for a gut-renovated single-family house in Bayville, NY

All of the loans are for a 12-18-month term and were closed within weeks of a clean title report.

Houlihan-Parnes Realtors, LLC is a privately owned, vertically integrated commercial real estate investment and management firm. Owning more than 7 million square feet of office, retail and industrial space, the firm also owns or manages approximately 10,000 multifamily units. Founded in 1891 and operated by the fourth and fifth generations of the Houlihan family, the company is headquartered in White Plains.