Houlihan Parnes Brokers Refinancing Of Newburgh Commercial Properties

Real Estate In-Depth | May 10, 2019

900 Corporate Blvd., Newburgh

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.