ARBOR CLOSES $12.54 MILLION IN MULTIFAMILY LOANS IN N.Y.

NEW YORK — Arbor Commercial Funding has closed a total of $12.54 million in Fannie Mae DUS loans for five multifamily communities located throughout New York. Alexander Kaushanksy of Arbor's New York City office originated the loans, which all carry 10-year terms and 30-year amortization schedules. A $6.4 million loan was secured for Crooke-Woodruff Apartments, a 107-unit property located in Brooklyn, New York City. A $2.12 million loan was secured for Bushwick Avenue Apartments, a 12-unit property located in Brooklyn. A $1.69 million loan was secured for Mountainbrow Village, a 57-unit property located in Corning. A $1.2 million loan was secured for 148-152 Elm Street in Yonkers. Finally, a $1.13 million loan was secured for 1145 Dean Street Apartments, a 10-unit property located in Brooklyn.