Arbor Funds Four Loans in New York, New Jersey Totaling $29.8M in Loans

NEW YORK CITY, AND JERSEY CITY, N.J. — Arbor Commercial Mortgage has funded four loans for properties in New York City and Jersey City totaling $29.8 million. Ari Short of Arbor’s New York office originated the loans, which were funded under the Freddie Mac Small Balance Loan program. The firm provided a $12.6 million loan to a three-property, 97-unit multifamily portfolio in the Bronx. The 20-year refinance loan features a 30-year amortization schedule. In the second loan, Eastern Parkway Portfolio, a five-property, 49-unit multifamily portfolio in Brooklyn, received $9.6 million in financing. The 20-year refinance loan features a 30-year amortization schedule. In the third deal, a 23-unit multifamily property located at 429 Lenox Ave. in New York City received a $5.1 million loan. The 20-year refinance loan features a 30-year amortization schedule. In Jersey City, Arbor provided a $2.4 million loan to a 27-unit multifamily property located at 112-118 Tonnele Ave. The 20-year refinancing features a 30-year amortization schedule.