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| Stephen York |
UNIONDALE, NY (Jan. 16, 2013) - 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 18 loans totaling $114,103,700 across the New York tri-state area under the
Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS®
Small Loan and Arbor Bridge Loan product lines.
These loans include:
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424 Bedford Avenue
Brooklyn, NY |
· 424
Bedford Avenue, Brooklyn, NY – This 66-unit multifamily property received
$26,900,000 funded under the Fannie Mae DUS® Loan product line. The 10-year
refinance loan amortizes on a 30-year schedule.
· 12-18
Meserole Street, Brooklyn, NY – This 28-unit multifamily property received
$11,800,000 funded under the Fannie Mae DUS® Loan product line. The 10-year
refinance loan amortizes on a 30-year schedule.
· 27th
Avenue Apartments, Astoria, NY – This 52-unit multifamily property received
$11,000,000 funded under the Fannie Mae DUS® Loan product line. The 20-year
refinance loan amortizes on a 25-year schedule.
· Grande
Apartments, Roselle Park, NJ – This 119-unit property received $9,392,300
funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan
amortizes on a 30-year schedule.
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| 27th Avenue Apartments, Astoria, NY |
· Meserole
and Montrose Apartments, Brooklyn, NY – This 44-unit multifamily property
received $9,007,000 funded under the Fannie Mae DUS® Loan product line. The
10-year refinance loan amortizes on a 30-year schedule.
· Bridge
Portfolio, Hartford, CT – This 496-unit multifamily portfolio received a
24-month acquisition loan for $9,000,000 funded under the Arbor Bridge Loan
program.
· Kingsley Arms Apartments, Asbury Park,
NJ – This 97-unit multifamily property received $5,520,000 funded under the
Fannie Mae DUS® Loan product line. The 10-year acquisition loan amortizes on a
30-year schedule.
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| Grande Apartments, Roselle Park, NJ |
· 361 Park
Avenue, Orange, NJ – This 96-unit multifamily property received $5,000,000
funded under the Fannie Mae DUS® Small Loan product line. The seven-year
refinance loan amortizes on a 30-year schedule.
· 513-517
West 171st Street Apartment, Lake Success, NY – This 50-unit multifamily
property received $4,313,400 funded under the Fannie Mae DUS® Loan product
line. The 10-year refinance loan amortizes on a 30-year schedule.
· Audubon
Avenue, New York, NY – This 49-unit multifamily property received
$3,973,300 funded under the Fannie Mae DUS® Loan product line. The 10-year
refinance loan amortizes on a 30-year schedule.
· Sherman
Avenue, New York, NY – This 45-unit multifamily property received
$3,226,700 funded under the Fannie Mae DUS® Loan product line. The 10-year
refinance loan amortizes on a 30-year schedule.
· 233-235
Montrose Avenue Apartments, Brooklyn, NY – This 16-unit multifamily property
received $3,036,900 funded under the Fannie Mae DUS® Loan product line. The
10-year refinance loan amortizes on a 30-year schedule.
· Palmetto
Villas, Brooklyn, NY – This 15-unit multifamily property received $2,500,000
funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance
loan amortizes on a 30-year schedule.
· 10-16
Lawrence Street Apartments, Yonkers, NY – This 33-unit multifamily property
received $2,200,000 funded under the Fannie Mae DUS® Small Loan product line.
The 10-year acquisition loan amortizes on a 30-year schedule.
· 204
Cleveland, Orange, NJ – This 40-unit multifamily property received $1,900,000
funded under the Fannie Mae DUS® Small Loan product line. The seven-year
refinance loan amortizes on a 30-year schedule.
· 275
South Harrison, East Orange, NJ – This 33-unit multifamily property
received $1,874,000 funded under the Fannie Mae DUS® Small Loan product line.
The seven-year refinance loan amortizes on a 30-year schedule.
· 1120
Bergen Street Apartments, Brooklyn, NY – This 33-unit multifamily property
received $1,832,400 funded under the Fannie Mae DUS® Small Loan product line.
The 10-year refinance loan amortizes on a 30-year schedule.
· 507-509
West 171st Street Apartments, Lake Success, NY – This 31-unit multifamily
property received $1,627,000 funded under the Fannie Mae DUS® Small Loan
product line. The 10-year refinance loan amortizes on a 30-year schedule.
All of the loans were originated by Stephen York,
Vice President in Arbor’s New York City office.
“As the leading commercial real estate market, the New York
tri-state area represents a tremendous opportunity to continually grow Arbor’s
business,” York said.
“With headquarters on Long Island and two offices in New
York City, Arbor is clearly a leading presence in the market and we are happy
to provide our clients with the customized financial solutions they seek as
their long-term lending partner.”
Contact:
Chris Ostrowski
Arbor Realty Trust, Inc.
Tel: (516) 506-4255
333 Earle Ovington Blvd, Suite 900
