Arbor closes two NYC loans totaling $4.8 million

January 22, 2019 - Financial Digest
Ari Short, Arbor

 

Geoffrey Platt, Arbor

 

New York, NY Arbor Realty Trust, Inc. has funded two loans totaling $4.8 million in the New York City area. 

The first loan was for 401 E. 136th St., Bronx. This nine-unit multifamily property received $1.8 million in refinance funding through the Freddie Mac SBL program. The deal provides a five-year hybrid term and a 30-year amortization schedule. Ari Short of Arbor’s New York City office originated the loan. 

Geoffrey Platt of Arbor originated a $3 million Freddie Mac SBL deal for 352 Weirfield St., Brooklyn. The six-unit multifamily property received $3 million in funding through the Freddie Mac SBL program. The deal comes with a five-year hybrid term and a 30-year amortization schedule.

“Arbor was able to utilize the Freddie Mac SBL program to allow a repeat client the opportunity to take equity out of their recently completed construction project and put it into new developments in the neighborhood,” Platt said. “It’s a testament to the flexibility of Arbor’s loan product suite.”

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