â€”Arbor Commercial Funding LLC (Arbor) a wholly-owned subsidiary of Arbor Commercial Mortgage LLC and a direct commercial real estate lender, recently funded nine loans totaling nearly $34 million under the Fannie Mae Delegated Underwriting and Servicing (DUS) Loan and Fannie Mae DUS Small Loan product lines in the Bronx and in Brooklyn.
These loans include:
â€˘ $14.015 million for The Stagg 2 Bronx portfolio, aportfolio containing 90 units across 14 buildings. Consisting of three- and four-story walk-up apartment buildings built between 2009 and 2010, the properties are located in the Bronxdale and Williamsbridge sections of the Bronx.
â€˘ $7.4 million for 387 Franklin Ave. in Brooklyn. The 28-unit multifamily property spans seven stories and was constructed in 2010. It consists of studio, one- and two-bedroom units in the Clinton Hill neighborhood of Brooklyn and includes amenities such as a roof terrace, balconies, parking and washer/dryer hookups.
â€˘ $2.35 million for Nostrand Avenue Apartments in Brooklyn. Containing seven units, the multifamily property was renovated between 2008 and 2010 and is located in Brooklynâ€™s Bedford-Stuyvesant section, providing access to public transportation.
â€˘ $2.62 million for 355 Stockton Street in the East Williamsburg/Bedford Stuyvesant submarket of Brooklyn, a 12-unit multifamily property that stands four stories high. In 2011, the property underwent a complete renovation.
â€˘ $1.8 million for 110 Martense Street Apartments in Brooklynâ€™s Flatbush neighborhood. The 28-unit multifamily property includes a mix of one- and two-bedroom apartments.
â€˘ $1.5 million for 495 Claremont Parkway Apartments in the Bronx. The property is a five-story walkup containing 18 units and underwent recent renovations.
Additional funding was secured for 179 Putnam Ave. in Brooklyn; 835 Home Apartments in the Bronx; and 364 East 49th Street in Brooklyn.
All of these multifamily loans were originated by Alex Kaushansky, vice president in Arborâ€™s New York office.