Houlihan-Partners Realtors, LLC

Real Estate Weekly, Jan 13, 1999

Michael J. Wengroff of Houlihan-Partners Realtors, LLC has arranged an $800,000 first mortgage on a mixed-use property consisting of one retail store and four residential units. This four-story walk-up is located at 141 East 57th Street, near Lexington Avenue in Midtown Manhattan.

This mortgage was arranged with a local bank lender with the interest rate fixed for the initial five-year period with a rate reset feature to give the borrower a 10-year term. Payments will be based upon a 25-year amortization schedule. It included a flexible prepayment schedule for the rate reset period. The initial rate was set at 7.5 percent.

The property is owned by a partnership whose managing agent has had an ongoing working relationship with Wengroff.