Robert Cheung borrows $11.3M from Arbor Realty to buy property in East Williamsburg

Robert Cheung through the entity Jian Ye LLC as borrower signed an acquisition loan agreement with lender Arbor Realty Trust through the entity Arbor Commercial Funding I, LLC valued at $11.3 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 30 residential units at 21 Montrose Avenue in East Williamsburg. The deal closed on July 24, 2020 and was recorded on August 27, 2020.
The property contains a total of 29,250 square feet of built space.
The average loan per unit is $375,000.
The financing provided $3.67 million in new debt on top of a refinance of $8.85 million originated by Arbor Realty Trust in 2011 and assigned to Fannie Mae.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link