M id A tlantic Real Estate Journal — May 29 - June 11, 2020 — 3A
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M id A tlantic R eal E state J ournal Mortgage financing on class A office building Houlihan-Parnes Realtors announce placement of $31M T
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ARRYTOWN, NY — Rachel Greenspan, Bryan Houlihan and Christie Houlihan of Hou- lihan-Parnes Realtors, LLC and GHP Office Realty are pleased to announce the place- ment of $31 million of mort- gage financing on the class A office building located at 660 White Plains Rd., Tarrytown. The property was purchased in early 2017 by members of GHP Office Realty, Houlihan- Parnes Realtors, and RD Management . Since acquir- ing the property, the own- ers have invested millions of dollars in capital improve- ments and various building upgrades, including a new state-of-the-art fitness center and newly renovated lobby. GHP Office Realty has been able to increase occupancy at the property from 78% to 98% due to the vast amount of improvements made to the property. The loan was placed with a local bank with a fixed rate of 3.13% on a 10-year term. The property enjoys a robust and diverse tenant roster. Knopp of SVNMiller co-brokers tax de- ferred exchange Maryland & Delaware — Tom Knopp , senior advisor with SVN Miller Commer- cial Real Estate co-brokered a tax-deferred exchange with a total value over $7.6 million. This deal was not just one property but a portfolio of four that consisted of properties spanning over three counties in MD and DE. A tax-deferred exchange allows a taxpayer to replace income from a sale with a like-kind property. Capital gains are “deferred” if IRS guidelines are met. McKinley purchased these properties lo- cated in Easton, MD, Seaford, DE, and Salisbury, MD as an investment that he plans to lease out and manage per- sonally. Chris Davis of NAI Coastal was a co-broker as well for the buyer’s side. Knopp said, “I am always available to help a client what- ever their needs may be. I have worked on a wide range of deals in terms of dollar amount. This deal was actu- ally the second tax-deferred exchange SVN brokered for this same buyer.”
660 White Plains Rd.
Main tenants include: Pres- tige Brands, ENT and Allergy Associates, and KeyBank National Association. The borrower was represented by
Elizabeth Smith of Gold- berg Weprin Finkel Gold- stein, LLP . Title was insured by John Martin of All New York Title Agency .
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