Uniondale, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of three loans for a single borrower under the Fannie Mae DUS® Small Loan product line in Brooklyn, NY. These loans include:
2775 East 16th Street Apartments, Brooklyn, NY (top left photo) – The 91-unit complex received $5,000,000 funded under the Fannie Mae DUS® Small Loan product line. The five-year refinance loan amortizes on a 30-year schedule.
2301 Kings Highway Apartments, Brooklyn, NY (middle right photo) – The 94-unit complex received $4,725,000 funded under the Fannie Mae DUS® Small Loan product line. The five-year acquisition loan amortizes on a 30-year schedule.
1570 East 14th Street Apartments, Brooklyn, NY (middle left photo) – The 65-unit complex received $3,000,000 funded under the Fannie Mae DUS® Small Loan product line. The five-year refinance loan amortizes on a 30-year schedule.
The loans were originated by Stephen York (lower right photo), Director, in Arbor’s full-service New York, NY, lending office.
“We were pleased to deliver final terms that exceeded our clients’ expectations and we look forward to future opportunities together.”
The clients’ extensive property ownership and management expertise made all three deals desirable in Arbor’s assessment.
Furthermore, all three properties are in submarkets significantly strengthened by Manhattan’s nearby employment districts as well as their own local retail services, hospitals and schools.
Both the 2301 Kings Highway and 1570 East 14th Street properties are in Brooklyn’s Midwood neighborhood, which is in the central part of the borough.
The 2775 East 16th Street property is located in the Sheepshead Bay neighborhood in southern Brooklyn.
Contact: Christopher Ostrowski, costrowski@arbor.com
No comments:
Post a Comment