Arbor Commercial Funding, LLC recently funded a $1 million loan under the Fannie Mae DUS Small Loan product line for the 42-unit complex known as Taylor Avenue Apartments. The 10-year loan amortizes on a 30-year schedule.
The loan was originated by Brian Scharf, director, in Arbor's full-service Uniondale, N.Y. lending office. "The borrower on Taylor Avenue Apartments represents an ideal partner for Arbor, as he is a self-made businessman who has quietly and personally accumulated a strong presence of multifamily asset ownership in his home market," Scharf said.