Houlihan Parnes Brokers Refinancing Of Newburgh Commercial Properties
Real Estate In-Depth | May 2019
NEWBURGH—Houlihan Partners Realtors reports that it recently arranged financing for two buildings at 700 and 900 Corporate Blvd. in Newburgh.
Steve McCulloch of the White Plains-based commercial real estate and investment firm, worked on behalf of a private partnership in the transaction.
The buildings total 72,000 square feet of flex space and are located within the Northeast Business Center. These two properties are fully leased to a variety of national and local businesses, are easily accessible to I-87 and I-84 and front on Route 17K, which runs along the eastern border of Stewart International Airport. The loan was in the amount of $3,750,000, has a term of seven years, an interest rate of 5.20% and non-recourse. The lender was a regional bank.