Platt of Arbor originates $3 million Freddie Mac loan

January 08, 2019 - Front Section
Geoffrey Platt,
Arbor

Brooklyn, NY Arbor Realty Trust, Inc. funded a $3 million Freddie Mac SBL deal for 352 Weirfield St., a six-unit multifamily property. The deal comes with a five-year hybrid term and a 30-year amortization schedule.

Geoffrey Platt of Arbor originated the loan. 

352 Weirfield St. is a newly constructed, walk-up style building located in the Bushwick neighborhood. Building amenities include a common laundry room, tenant lounge, backyard patio and roof deck. 

The units are equipped with shaker-style kitchen cabinets, modern appliances and central HVAC systems.

“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.”

Comments

Add Comment


More from the New York Real Estate Journal