2A — May 10 - 23, 2019 — M id A tlantic
Real Estate Journal
www.marejournal.com
Mid Atlantic Real Estate Journal
Mid Atlantic R eal E state J ournal Publisher, Conference Producer . .............Linda Christman AVP, Conference Producer ...........................Lea Christman Publisher ........................................................Joe Christman Section Publisher ............................................. Steve Kelley Section Publisher ............................................... Kim Brunet Editor/Graphic Artist ......................................Karen Vachon Office Manager ...............................................Kerrin Devine Contributing Columnists .........Charles A. McCullough, MAI, AI-GRS;John V. Maggi, Congress Asset Exchange & Freyr Energy LLC; Amy Novak, Torcon Mid Atlantic R eal E state J ournal — Published Semi-Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, 350 Lincoln St., Suite 1105 Hingham, MA 02043 USPS #22-358 | Vol. 31, Issue 9 Subscription rates: $99 - one year, $148 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion 781-740-2900 | Fax: 781-740-2929 The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
CELEBRATING 30 YEARS OF ENGINEERING LEADERSHIP
Designated Appraisers Charles A. McCullough, MAI, AI-GRS
I f you do not know a doctor nor know anyone who has been to a doctor recently, your best bet is to hire someone who at least has been state cer- tified. The same is true, at least as a minimum, for appraisers. To practice as a real estate ap- praiser in New Jersey, a practi- tioner must be licensed or certi- fied. At least one state (Penn- sylvania) has eliminated the licensed appraiser category. To become a designated appraiser, however, takes the field of real estate appraising to a higher practice level. The Appraisal In- stitute awards designations at the SRA (residential) level and at the MAI (non-residential and residential) level. This is a ques- NEW YORK, NY — Zeev Douek of Houlihan Parnes arranged a $15 million acqui- sition loan for the purchase of an 18,000 s/f commercial condo unit in 420 Fifth Ave. The loan was placed with a NY-based
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tion of not only what you know but how you know it. Appraisal Institute designated appraisers receive the best real estate edu- cation available. The Appraisal of Real Estate 14th Edition and the Dictionary of Real Es- tate Appraisal 6th edition are considered the “Bibles of real estate appraising”. Designated members of the Appraisal Insti- tute learn from those books. The Appraisal Institute publishes bank at 80% of the purchase price with a 10-year fixed rate fixed at a spread of 140 bps over the 10 Year Swap Rate. “We were able to work with the lender to meet all of the borrow- er’s needs in regards to terms
both of those books, and many more dealing with the practice of appraising real estate. If you want your real estate appraised and analyzed, hire a designated Appraisal Institute appraiser. Charles A. McCullough has been active as an appraiser in the South Jersey and Southeastern PA area for over thirty years with a fo- cus on valuation of commer- cial/industrial properties.
and timing” said Douek. “The lender provided the borrower 18 months of interest only payments as well as waived the requirement for a personal guarantee despite the buyer being an owner occupant.” Houlihan Parnes’ Douek arranges $15 million acquisition loan
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Celebrating 30 Years
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