SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

KAUFMAN IVAN

(Last)

(First)

(Middle)

C/O ARBOR REALTY TRUST, INC.

333 EARLE OVINGTON BLVD., STE. 900

(Street)

UNIONDALE

11553

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ARBOR REALTY TRUST INC [ ABR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	COB, CEO and President

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2008

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $.01 per share	06/30/2008		A		3,776,069	A	⁽¹⁾⁽²⁾	4,966,273	I	By Arbor Commercial Mortgage, LLC
Special Voting Preferred Stock	06/30/2008		J⁽¹⁾⁽²⁾		3,776,069	D	⁽¹⁾⁽²⁾	0	I	By Arbor Commercial Mortgage, LLC
Common Stock, par value $.01 per share								114,334	D
Common Stock, par value $.01 per share								3,598	I	By son, Maurice Kaufman under Uniform Gift to Minors Act
Common Stock, par value $.01 per share								1,617	I	By son, Adam Kaufman under Uniform Gift to Minors Act
Common Stock, par value $.01 per share								5,000	I	By spouse, Lisa Kaufman

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Redeemable Paired Partnership Units⁽¹⁾⁽²⁾	⁽¹⁾⁽²⁾	06/30/2008		C		3,776,069		⁽³⁾	⁽³⁾	Common Stock of Arbor Realty Trust, Inc.	3,776,069	⁽¹⁾⁽²⁾	0	I	By Arbor Commercial Mortgage, LLC

Explanation of Responses:

1. Shares of Special Voting Preferred Stock (the "SVP Stock") are paired with an equal number of units of limited partnership interest in Arbor Realty Limited Partnership ("ARLP"), the operating partnership of Arbor Realty Trust, Inc. ("ART"). Pursuant to the Amended and Restated Partnership Agreement of ARLP, the units of limited partnership interest held by Arbor Commercial Mortgage, LLC ("ACM") are redeemable at the election of the holder, for cash or, at the election of ART for shares of common stock of ART (the "Redeemable Paired Partnership Units"). When and if ACM redeems a Redeemable Paired Partnership Unit and ART elects to issue ACM shares of ART's common stock upon such redemption, the corresponding shares of SVP Stock are automatically redeemed and cancelled. On June 30, 2008, ACM redeemed 3,776,069 Redeemable Paired Partnership Units and ART elected to issue ACM the equivalent number of shares of ART's common stock upon such redemption. (Continued on footnote 2)

2. (Continuted from footnote 1) Therefore, the corresponding shares of SVP Stock were automatically redeemed and cancelled.

3. These Redeemable Paired Partnership Units were exercisable as of October 3, 2004 and they did not have an expiration date.

Remarks:

	/s/ Ivan Kaufman	07/02/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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