Business Services Industry
Broad Street and Gramatan Avenue in Mt. Vernon
Real Estate Weekly, March 15, 2000
Richard Hendey of Houlihan Parnes Realtors, LLC has arranged the acquisition financing and brokered the sale of a mixed-use office/retail property located on the corner of Broad Street and Gramatan Avenue in Mt. Vernon. Hendey represented both the buyer and the seller in this transaction.
The subject property encompasses approximately 20,000 square feet of retail and office space. The property was sold for a price of $2.4 million. The financing was fixed for 10 years at a rate of 7,31 percent with a 25-year amortization schedule.
Hendey placed the financing with a local bank. The loan has a yield maintenance prepayment penalty and is transferable with bank approval and a one percent fee payable to the lender.
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