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Banking and FinanceDebt & Equity

Houlihan, GHP close $35M office mortgage

Taxter Corporate Park

Houlihan-Parnes Realtors and GHP Office Realty secured a $35 million mortgage on two Westchester office properties.

Bryan Houlihan, Christie Houlihan and Rachel Greenspan arranged the placement of the mortgage on the two Class-A buildings located at 555-565 Taxter Road, Elmsford, New York.

The complex contains a total of 371,224 rentable square feet, which is managed and leased by GHP Office Realty. The properties are located two miles from the entrance of the Gov. Mario M. Cuomo Bridge, the Cross Westchester Expressway, New York Thruway, Saw Mill River and Sprain Brook Parkways.

Since acquiring the property in early 2019, GHP has improved the complex, known as Taxter Corporate Park.

Montefiore Medical Center has committed to a long-term lease of over 127,000 s/f. Other major tenants include Massachusetts Mutual Life Insurance Company, The Coca-Cola Company and Nationwide Mutual Insurance Company.

The loan was placed with a national life insurance company for a term of 20 years with a fixed interest rate of 3.98 percent.

The borrower was represented by Elizabeth Smith, Esq. of Goldberg Weprin Finkel Goldstein, LLP, and the title was ensured by First American Title Insurance Company.

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