Houlihan-Parnes Realtors has arranged $30 million in mortgage financing for 660 White Plains Road, Tarrytown, NY.
The 296,780 s/f Class A office building was purchased in early 2017 by members of GHP Office Realty, Houlihan-Parnes Realtors, and RD Management.
Since acquiring the property, the owners have invested millions in capital improvements and building upgrades, including a new fitness center and renovated lobby. Occupancy has increased from 78 to 98 percent with tenants including Prestige Brands, ENT and Allergy Associates, and KeyBank National Association.
Christie L. Houlihan, Bryan J. Houlihan, James J. Houlihan and Andy Greenspan of Houlihan-Parnes Realtors, LLC, arranged the financing.
The loan was structured into two facilities to preserve an existing below market rate and provide for additional funds to complete all renovation and tenant buildouts.
The loan is for a term of 12 years with the initial rate fixed for seven years.
The borrower was represented by Elizabeth Smith of Goldberg Weprin Finkel Goldstein, LLP. Title was insured by All New York Title Agency.