Michael Wengroff of Houlihan-Parnes Realtors, LLC

Real Estate Weekly, Dec 20, 2000

Michael Wengroff of Houlihan-Parnes Realtors, LLC has arranged a first mortgage loan in the amount of $1,807,500 on a three-story retail building located in Ridgewood, N.Y. The retail portion of the building will be renovated and then fully occupied by the purchaser.

The property has 9,500 SF on the ground level and an additional 1,500 SF on each of the upper two floors. It is unique in that it has accessibility for walk-in entrances on two sides of the retail selling space.

This facility was arranged with a metropolitan-based lender. This loan is a self-amortizing loan over a 15-year period. It has an initial rate of 8.32% for the first five years.