Seko Mujevic refis $12.5M from Arbor Realty Trust for 28-unit rental in Astoria

Seko Mujevic through the entity Welling Ct. LLC as borrower signed a loan agreement with lender Arbor Realty Trust (which assigned the debt to Fannie Mae) through the entity Arbor Commercial Funding I, LLC valued at $12.5 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 28 residential units at 11-07 Welling Court in Astoria. The deal closed on August 14, 2020 and was recorded on August 21, 2020.
The property contains a total of 27,145 square feet of built space.
The average loan per unit is $445,594.

The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 28 residential units on December 23, 2016.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $157,600.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Kenneth Downling