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NEW YORK CITY — Arbor Commercial Funding has secured a $15 million loan for the acquisition of the 27-unit Water Street Apartments in New York City. The loan was originated by Stephen York of Arbor’s Uniondale, N.Y., office. The loan was financed through a combination of Fannie Mae’s DUS program and Arbor’s own mezzanine funds, the Arbor 85 product line.

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