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Arbor Provides $55.3M Acquisition Loan for Multifamily Portfolio Near New York City

boulevard-apartments

The Boulevard Apartments offers 124 one- and two-bedroom units in Hasbrouk Heights.

HASBROUK HEIGHTS, N.J. — Arbor Realty Trust Inc. has provided a $55.3 million Fannie Mae acquisition loan for a multifamily portfolio totaling 388 units in Hasbrouk Heights, an eastern suburb of New York City. Skyline Apartments, built in 1950, comprises 124 one- and two-bedroom units. The Boulevard Apartments, built in 1951, consists of 214 one- and two-bedroom units. The loan carries a 12-year fixed interest rate with six years of interest-only payments. Stephen York of Arbor’s New York City office originated the loan. The borrower was undisclosed.

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