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New York Bridge Lenders for Commercial Real Estate
Are you seeking short-term financing secured by commercial real estate in New York? On this page you'll find a list of select CRE bridge lenders that can finance a property purchase, 1031 exchange, refinance, or equity cash out in 1st lien position. We have a separate page for lenders that can fund a rehab / value-add project. The maximum LTV for most CRE bridge loans is 70% for multifamily and 65% for other core commercial real estate - office, retail, industrial, hotel. The LTV is typically lower for specialty property types.
New York is a massive state, and many CRE bridge lenders only consider commercial properties in specific regions. Filter the lender list by selecting a region:
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Completed CRE Bridge Loan Transactions in New York
Refinance Bridge Loan for 57-Unit Mixed-Use Building in Brooklyn, New York
Stormfield Capital recently funded a $6,750,000 1st lien position recapitalization bridge loan in the Bedford Stuyvesant neighborhood of Brooklyn, NY. The loan was secured by a fully-stabilized mixed-use building with 11 retail and 46 residential units. The property value was estimated to be $12,000,000 and our loan-to-value was 65%. We paid off a previous loan balance of $6,500,000. The subject property was situated a block from the Nostrand Ave subway station, which is a direct line into Manhattan that offers local and express trains. The station underwent renovations in January 2020 and currently serves about 17,500 riders each weekday. The building is approximately 46,000 square feet. All units were occupied at closing. The broker earned a $56,250 commission. The loan term was set at 12 months. This CRE bridge loan was funded in January 2023.
Refinance Bridge Loan for Industrial Property in Hillburn, New York
Archway Fund, a direct private mortgage lender, funded a $3,645,000 1st lien position non-recourse bridge loan secured by an industrial property in Hillburn, Rockland County, NY. The Sponsor needed to quickly cash out $2,000,000 in equity on this property to use for another investment property purchase. The subject property is ground leased to a waste management company. With 8 years remaining on the lease, Archway was comfortable with the unique nature of the property. And the loan-to-value was only 50%. We paid off the previous lender and provided the cash-out funds in just 10 days. The interest rate was fixed at 6.99%We charged an origination fee of 2 points. The loan term was set at 36 months. The Sponsor plans to pay down the loan in cash or refinance back into a bank loan. As with almost all of our deals, the Sponsor did not have to personally guarantee the loan. This refinance bridge loan was funded in November 2019.