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| Alex Kaushansky |
UNIONDALE, NY (Oct. 25, 2012) - Arbor Commercial Funding,
LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and
a national, direct commercial real estate lender, announced the recent funding
of nine loans totaling $33,965,500 under the Fannie Mae Delegated Underwriting
& Servicing (DUS®) Loan and Fannie Mae DUS® Small Loan product lines in New
York City’s Bronx and Brooklyn boroughs.
· The Stagg 2 Bronx Portfolio, Bronx, NY
– This 90-unit, 14-building multifamily portfolio received $14,015,000 funded
under the Fannie Mae DUS® Loan product line. The 10-year refinance loan
amortizes on a 30-year schedule. The portfolio consists of three-and
four-story, walk-up apartment buildings that were completed between 2009 and
2010 and are located within the Bronxdale and Williamsbridge sections of the
Bronx.
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| The Stagg 2 Bronx Portfolio, Bronx, NY |
387
Franklin Avenue, Brooklyn, NY – This 28-unit multifamily property received $7,400,000
funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan
amortizes on a 30-year schedule. The property is a seven-story apartment
building that was constructed in 2010 and consists of studio, one- and
two-bedroom apartments in the Clinton Hill section of Brooklyn. Site amenities
include a roof terrace, individual balconies, grade-level parking and
washer/dryer hookups.
· Nostrand
Avenue Apartments, Brooklyn, NY – This seven-unit multifamily property
received $2,350,000 funded under the Fannie Mae DUS® Loan product line. The
10-year refinance loan amortizes on a 30-year schedule. Renovated between 2008
and 2010, 404 Nostrand Avenue is located in Brooklyn’s Bedford-Stuyvesant
section and has excellent access to public transportation, including the A and
C subway trains.
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| 387 Franklin Ave. Apartments Brooklyn, NY |
355
Stockton Street, Brooklyn, NY – This 12-unit multifamily property received
$2,624,500 funded under the Fannie Mae DUS® Small Loan product line. The
10-year refinance loan amortizes on a 30-year schedule. The four-story property
underwent a complete renovation in 2011 and is located in the East
Williamsburg/Bedford Stuyvesant submarket, a convenient three blocks away from
the M subway.
110
Martense Street Apartments, Brooklyn, NY – This 28-unit multifamily
property received $1,800,000 funded under the Fannie Mae DUS® Small Loan
product line. The 10-year refinance loan amortizes on a 30-year schedule. The
property consists of a mix of one- and two-bedroom apartments located in Brooklyn’s
Flatbush neighborhood.
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| 110 Martense St. Apartments, Brooklyn, NY |
495
Claremont Parkway Apartments, Bronx, NY – This 18-unit multifamily property
received $1,510,000 funded under the Fannie Mae DUS® Small Loan product line.
The 10-year refinance loan amortizes on a 30-year schedule. The property is a
mid-block, five-story walk-up apartment building that underwent renovations
between 2009 and 2010.
· 179
Putnam Avenue, Brooklyn, NY – This six-unit multifamily property received
$1,400,000 funded under the Fannie Mae DUS® Small Loan product line. The
10-year refinance loan amortizes on a 30-year schedule. Located in the
Bedford-Stuyvesant section of Brooklyn, 179 Putnam is located several blocks
from the Franklin Avenue subway station and is a short 30-minute train ride to
Midtown Manhattan.
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| 835 Home Apartments, Bronx, NY |
835 Home
Apartments, Bronx, NY – This 21-unit, four-story low-rise multifamily
apartment complex received $1,236,000 funded under the Fannie Mae DUS® Small
Loan product line. The 10-year acquisition loan amortizes on a 30-year
schedule. The property consists of one- and two-bedroom apartments.
· 364 East
49th Street, Brooklyn, NY – This 12-unit multifamily property received
$880,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year
refinance loan amortizes on a 30-year schedule. The property was renovated in
2010 and is located in the East Flatbush neighborhood of Brooklyn.
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| 364 East 49th St., Brooklyn, NY |
All of the loans
were originated by Alex Kaushansky, Vice President in Arbor’s New York,
NY, office.
“As the top real estate
market in the country and our headquarters area, Arbor’s lending strength
extends to all of New York City’s boroughs no matter the size of the loan,”
Kaushansky said.
“Boroughs like Brooklyn and the Bronx are hotbeds of economic
activity and Arbor is there to support the needs of our clients with
deep-rooted expertise in every submarket.”
Contact:
Chris Ostrowski
Arbor Realty Trust, Inc.
Tel: (516) 506-4255
333 Earle Ovington Blvd, Suite 900
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