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Home | Resources & Press | Arbor Funds 9 Deals Across NYC’s Bronx & Brooklyn Boroughs Totaling $34M

Arbor Funds 9 Deals Across NYC’s Bronx & Brooklyn Boroughs Totaling $34M

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.
  • 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.
  • 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.
  • 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.
  • 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.

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.”

About Us

Founded by Chairman and CEO Ivan Kaufman, Arbor Commercial Mortgage, LLC and Arbor Commercial Funding, LLC are national direct lenders specializing in the origination of debt financing and servicing for multifamily and other diverse commercial assets. Arbor is a Top 10 Fannie Mae DUS® Multifamily Lender and an FHA Multifamily Accelerated Processing (MAP) Lender, consistently building on its reputation for service, quality and flexibility. With a current servicing portfolio of $9.1 billion, Arbor is a primary commercial loan servicer and special servicer rated by Fitch Ratings and Standard & Poor’s. Arbor is also on the Standard & Poor’s Select Servicer List.

Arbor Commercial Mortgage, LLC also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in mortgage-related securities, real estate-related bridge, junior participating interests in first mortgages, mezzanine loans, preferred and direct equity investments and in limited cases, discounted mortgage notes and other real estate-related assets. Arbor is headquarted in Uniondale, NY, with full-service lending offices throughout the United States. For more information about Arbor, visit www.arbor.com.

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