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Brokerage
Posted: July 2, 2019
Arbor Realty Trust funds $15 million bridge loan; Originated by Yanovskiy
Arbor
Brooklyn, NY Arbor Realty Trust, Inc. has funded a $15 million bridge refinance loan for 2417 Albemarle Rd., a 43-unit multifamily property. The deal provides an interest only loan over a two year term.
Eugene Yanovskiy of Arbor originated the loan.
“Arbor’s bridge product gave our client the opportunity to take out an expensive construction loan and lease up their property,” said Yanovskiy. “With our product, we will have a seamless transition into a permanent agency loan once the property is stabilized.”
Built in 2018, 2417 Albemarle Rd. provides keyed private elevator entrances, in-unit washers and dryers, polished concrete floors, centralized air and heat, and views of the city’s skyline. Located close to restaurants, shopping venues and several subway lines, the building also features an oversized common deck, bike storage, and an underground parking garage.
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