UNIONDALE, NY (May 8, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,430,400 loan under the Fannie Mae DUS® Small Loan product line for the 9-unit property known as 81 Olive Street in Brooklyn, NY.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.05 percent.
The loan was originated by Stephen York, (top right photo) Director, in Arbor’s full-service New York, NY lending office.
“The borrower’s existing loan was approaching maturity and came to Arbor looking for long-term fixed-rate financing,” said York. “We were pleased to deliver competitive terms, which included sizeable cash out.” (Brooklyn Bay Bridge, bottom left photo)
CONTACT: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/
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