Uniondale, NY (Sept. 29, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two (2) loans under the Fannie Mae DUS® Small Loan product line. These loans include:- 95-101 St. Marks Place Apartments (top left photo), New York, NY – The 83-unit complex received $3,000,000 funded under the Fannie Mae DUS® Small Loan product line. The five-year loan amortizes on a 30-year schedule.
- 539 West 49th Street, New York, NY (Lower right photo) – The 20-unit complex received $1,200,000 funded under the Fannie Mae DUS® Small Loan product line. The five-year loan amortizes on a 30-year schedule.
The loans were originated by Edward Petti, Director, in Arbor’s full-service New York, NY, lending office.
“These two loans were part of a three-loan portfolio that we closed. The other property is known as Haven Avenue,” Petti said.
“These were all refinancings where the borrower reduced the existing rates significantly by going with our interest-only products.”
Contact: Christopher Ostrowski, costrowski@arbor.com
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