New York Multifamily Loans
Select Commercial specializes in New York multifamily loans starting at $6 million and above. Whether you're acquiring a large apartment complex or refinancing a stabilized portfolio, we offer competitive rates, low fees, and expert guidance on multifamily financing across New York State.
Need a loan under $6 million? Visit our New York apartment loan page. For other commercial property types, explore our New York commercial mortgage options. To compare all rates nationwide, see our rate chart.
New York Multifamily Loan Rates
Below are current New York multifamily loan rates for properties with loan amounts starting at $6 million. These programs are ideal for large balance multifamily acquisitions and refinances.
| NY Multifamily Loans ($6 million and up) | Free Loan Quote | ||
|---|---|---|---|
| Loan Type | Rate* | LTV | |
| Multifamily Loan 5 Yr Fixed | 5.30% | Up to 75% | |
| Multifamily Loan 7 Yr Fixed | 5.34% | Up to 75% | |
| Multifamily Loan 10 Yr Fixed | 5.40% | Up to 75% | |
*Rates start as low as shown and are based on underwriting criteria, borrower experience, and property strength.
Ready to get started? Click here to request a customized loan quote for your New York multifamily property.
Why Choose Select Commercial for Apartment Loans
Why Choose Select Commercial?
What sets Select Commercial apart from traditional lenders and large banks? In this short video, we highlight the key reasons apartment building investors choose to work with us for New York apartment loans between $1.5 million and $6 million. We also actively finance multifamily loans exceeding $6 million.
Here’s what the video touches on:
- No upfront application or processing fees
- Fast written pre-approvals often within 24 hours
- Access to a wide range of apartment lenders, not just one bank
- Loan structures tailored to your property and investment goals
2026 Manhattan NYC Multifamily Loan Market Overview
New York City enters 2026 with one of the most favorable supply environments seen in recent years, even as policy uncertainty and slower household formation introduce additional underwriting considerations. For investors pursuing multifamily loans, the core fundamentals driving performance remain consistent: employment trends, new construction volume, vacancy movement, and rent growth.
Employment Growth Continues at a Slower Pace
Job expansion is projected to reach approximately 25,000 new positions in 2026, representing a moderation from prior years. Despite the slowdown, New York City’s projected 0.5% growth rate remains among the strongest in the Northeast, supporting ongoing renter demand across multifamily assets.
Construction Decline Supports Existing Assets
New deliveries are expected to fall to their lowest level in over a decade, with supply growth slowing to approximately 0.7% and around 15,000 units coming online. Brooklyn is expected to account for much of the pullback, with significantly fewer completions than the prior year, easing lease-up pressure across the market.
Vacancy Remains Tight Despite Slight Increase
Slower job growth and broader economic conditions are projected to push vacancy up modestly by roughly 20 basis points to about 2.8%. Even with this increase, vacancy remains extremely low relative to national benchmarks, reinforcing stability in multifamily underwriting.
Rent Growth Remains Steady but Moderate
While reduced construction may support higher-tier product, overall rent growth is expected to remain below 3% for another year. Average effective rent is projected to reach approximately $3,190 per month in 2026, reflecting an increase of about 2.1%. These conditions support a disciplined approach to multifamily financing and underwriting assumptions.
2026 New York City Multifamily Loan Market Forecast
- Employment Growth: Approximately 25,000 jobs added (+0.5%).
- Construction Trends: Roughly 15,000 units delivering, with supply growth near 0.7%.
- Vacancy: Projected around 2.8%, increasing by about 20 basis points.
- Rent: Average effective rent near $3,190 per month, up approximately 2.1%.
New York City remains a middle-tier performer among major U.S. markets, as regulatory pressures and slower household growth offset the benefits of reduced construction. Prime submarkets continue to demonstrate resilience, and the significant drop in new deliveries should help maintain balanced fundamentals.
For investors evaluating multifamily loans, 2026 underwriting is expected to place greater emphasis on regulatory exposure, rent collections, and operating expense control. Assets outside strict rent regulation are likely to attract stronger demand, while more regulated properties may require conservative leverage and reserve structures. These dynamics directly influence how multifamily financing is structured, including loan sizing, debt service coverage, and long-term rent growth assumptions tied to asset class and location.
2026 Brooklyn Multifamily Loan Market Overview
Brooklyn remains one of the most active submarkets in New York City for multifamily loans, particularly for investors targeting stabilized and transitional assets. The borough continues to attract capital due to its strong renter demand, neighborhood-driven growth, and long-term appreciation potential. Across Brooklyn NYC, multifamily buildings, mixed-use properties, and walk-up assets remain key targets for investors seeking financing in one of the most supply-constrained rental markets in the country.
Brooklyn Multifamily Loan Rates and Financing in 2026
Financing conditions for Brooklyn multifamily loans remain active in 2026, although lenders are maintaining disciplined underwriting standards. Key considerations include property condition, mixed-use exposure, insurance costs, and operating expenses unique to the New York City market. Select Commercial works with a wide range of lenders to structure multifamily financing solutions through agency, bank, debt fund, and private capital sources, supporting both stabilized and value-add investments across Brooklyn NYC.
Trends in the Brooklyn NYC Multifamily Market
The Brooklyn multifamily market continues to benefit from consistent renter demand and limited available inventory. Investor focus remains on assets with operational upside, durable tenant bases, and long-term neighborhood momentum. Multifamily properties offering repositioning potential, improved management, or strategic capital improvements continue to drive acquisition activity across the borough.
Brooklyn Rent Levels in 2026
Rent levels across Brooklyn remain elevated in 2026, supporting continued investor demand for multifamily loans. Recent market data places average rent at approximately $4,264 per month, with strong performance across all unit types. These rent levels contribute to stable underwriting assumptions for income-producing multifamily properties throughout Brooklyn NYC.
- Studio average: Approximately $3,253
- One-bedroom average: Approximately $3,775
- Two-bedroom average: Approximately $4,686
- Three-bedroom average: Approximately $5,709
For investors evaluating multifamily financing, Brooklyn's rent strength continues to support debt-service coverage on stabilized assets, particularly in neighborhoods with consistent leasing demand and limited supply turnover.
Multifamily Supply and Demand in Brooklyn NYC
Supply remains constrained across Brooklyn NYC. Recent leasing data indicates declining inventory levels, while vacancy remains tight relative to national benchmarks. This imbalance between supply and demand supports occupancy levels, rent stability, and long-term investor interest. As a result, Brooklyn continues to play a key role in the broader New York multifamily loan landscape.
Opportunities for Multifamily Investment in Brooklyn
Investors seeking Brooklyn multifamily loans are often targeting walk-up buildings, mixed-use properties, and older multifamily assets that offer operational upside. Opportunities include renovation strategies, improved property management, and long-term hold investments. Brooklyn provides a wide range of neighborhood-level entry points, offering more flexibility than tighter Manhattan submarkets while still benefiting from strong demand fundamentals.
Popular Brooklyn NYC Neighborhoods for Multifamily Investment
Several Brooklyn NYC neighborhoods continue to stand out for multifamily investment opportunities. Areas with strong renter demand, improving infrastructure, and long-term growth potential remain top targets for investors.
- Bushwick
- Crown Heights
- Bedford-Stuyvesant
- Flatbush
- Sunset Park
- Bay Ridge
- Kensington
Financing a Brooklyn Multifamily Loan with Select Commercial
Select Commercial provides customized financing solutions for investors seeking multifamily loans in Brooklyn NYC. We understand the complexities of underwriting urban assets, including mixed-use exposure, older building stock, and market-specific operating challenges. Whether you are acquiring, refinancing, or repositioning a multifamily property, we can help structure financing aligned with your investment strategy.
Contact Select Commercial today to discuss your financing needs and explore competitive Brooklyn multifamily loan options for your next New York City investment.
2026 Queens Multifamily Loan Market Overview
Queens remains one of the most attractive boroughs for multifamily loans, supported by diverse housing stock, strong renter demand, and a wide range of neighborhood price points. Compared to tighter submarkets like Manhattan, Queens offers investors broader access to multifamily opportunities with stable cash flow potential and long-term appreciation. Across Queens NYC, multifamily properties, mixed-use assets, and walk-up buildings continue to attract capital seeking exposure to one of the most resilient rental markets in the country.
Queens Multifamily Loan Rates and Financing in 2026
Financing conditions for Queens multifamily loans remain active in 2026, with lenders maintaining disciplined underwriting standards. Key factors include property condition, mixed-use exposure, operating expenses, and sponsor experience. Select Commercial works with agency lenders, banks, debt funds, and private capital sources to structure multifamily financing solutions for both stabilized and value-add assets throughout Queens NYC.
Trends in the Queens NYC Multifamily Market
The Queens multifamily market continues to benefit from durable rental demand, neighborhood diversity, and more accessible acquisition pricing compared to other boroughs. Investor focus remains on assets with consistent occupancy, transit-oriented locations, and long-term neighborhood growth. Multifamily properties offering renovation, repositioning, or operational improvements continue to drive acquisition activity across Queens NYC.
Queens Rent Levels in 2026
Rent levels across Queens remain strong in 2026, supporting continued demand for multifamily loans. Recent market data shows average rent at approximately $3,076 per month, with stable pricing across major unit types. These rent levels continue to support underwriting for income-producing multifamily properties throughout Queens NYC.
- Studio average: Approximately $2,525
- One-bedroom average: Approximately $2,928
- Two-bedroom average: Approximately $3,774
For investors evaluating multifamily financing, Queens offers a strong balance between rent levels and acquisition costs, helping support debt-service coverage and long-term asset performance.
Multifamily Supply and Demand in Queens NYC
Supply remains constrained across Queens NYC. Vacancy levels continue to reflect a tight rental market, while many neighborhoods benefit from strong leasing demand driven by transit access, relative affordability, and population density. This imbalance between supply and demand supports occupancy levels and reinforces Queens as a key component of the broader New York multifamily loan market.
Opportunities for Multifamily Investment in Queens
Investors seeking Queens multifamily loans are often focused on walk-up buildings, mixed-use properties, and older multifamily assets with operational upside. Opportunities include renovation strategies, improved property management, and long-term hold investments. Queens offers a wide range of entry points across multiple neighborhoods, providing flexibility while still benefiting from strong rental fundamentals.
Popular Queens NYC Neighborhoods for Multifamily Investment
Several Queens NYC neighborhoods continue to stand out for multifamily investment opportunities. Areas with strong renter demand, access to transportation, and long-term growth potential remain top targets for investors.
- Jackson Heights
- Elmhurst
- Woodside
- Ridgewood
- Jamaica
- Sunnyside
- Flushing
Financing a Queens Multifamily Loan with Select Commercial
Select Commercial provides tailored financing solutions for investors seeking multifamily loans in Queens NYC. We understand the complexities of underwriting urban assets, including mixed-use exposure, aging building stock, and market-specific operating challenges. Whether you are acquiring, refinancing, or repositioning a multifamily property, we can help structure financing aligned with your investment objectives.
Contact Select Commercial today to discuss your financing needs and explore competitive Queens multifamily loan options for your next New York City investment.
2026 Bronx Multifamily Loan Market Overview
The Bronx remains one of the most accessible boroughs for multifamily loans, supported by a large base of pre-war housing stock, strong renter demand, and more attainable pricing compared to other New York City submarkets. These characteristics continue to attract investors seeking stable cash flow and long-term appreciation. Across Bronx NYC, multifamily buildings, mixed-use assets, and walk-up properties remain key targets for capital pursuing opportunities in a supply-constrained rental environment.
Bronx Multifamily Loan Rates and Financing in 2026
Financing conditions for Bronx multifamily loans remain active in 2026, with lenders maintaining disciplined underwriting standards. Key considerations include property condition, rent history, operating expenses, and mixed-use exposure. Select Commercial works with agency lenders, banks, debt funds, and private capital sources to structure multifamily financing solutions for both stabilized and value-add assets throughout Bronx NYC.
Trends in the Bronx NYC Multifamily Market
The Bronx multifamily market continues to benefit from consistent renter demand and a broad inventory of older buildings that provide operational upside. Investor focus remains on assets with stable occupancy, strong local demand drivers, and long-term neighborhood reinvestment trends. Multifamily properties offering renovation, repositioning, or improved management continue to drive acquisition activity across Bronx NYC.
Bronx Rent Levels in 2026
Rent levels in the Bronx remain firm in 2026, supporting continued investor demand for multifamily loans. Recent market data shows asking rents at approximately $2,089 for studios, $2,530 for one-bedroom units, and $3,071 for two-bedroom units. These rent levels support underwriting assumptions for income-producing multifamily properties across Bronx NYC.
- Studio average: Approximately $2,089
- One-bedroom average: Approximately $2,530
- Two-bedroom average: Approximately $3,071
For investors evaluating multifamily financing, the Bronx offers a strong balance between rent levels and acquisition costs, which can support debt-service coverage and long-term asset performance.
Multifamily Supply and Demand in Bronx NYC
Supply remains constrained across Bronx NYC. Vacancy levels remain low by historical standards, while many neighborhoods continue to benefit from steady renter demand and limited turnover. This imbalance between supply and demand supports occupancy and reinforces the Bronx as an important part of the broader New York multifamily loan market.
Opportunities for Multifamily Investment in the Bronx
Investors seeking Bronx multifamily loans are often focused on walk-up buildings, elevator properties, mixed-use assets, and older multifamily buildings with operational upside. Opportunities include renovation strategies, improved management, and long-term hold investments. The Bronx offers a wide range of neighborhood-level entry points, providing flexibility while still benefiting from strong rental demand and long-term appreciation potential.
Popular Bronx NYC Neighborhoods for Multifamily Investment
Several Bronx NYC neighborhoods continue to stand out for multifamily investment opportunities. Areas with strong renter demand, access to employment centers, and long-term growth potential remain top targets for investors.
- Mott Haven
- Fordham
- Kingsbridge
- Belmont
- University Heights
- Morris Park
- Soundview
Financing a Bronx Multifamily Loan with Select Commercial
Select Commercial provides tailored financing solutions for investors seeking multifamily loans in Bronx NYC. We understand the complexities of underwriting urban assets, including older building stock, mixed-use components, and market-specific operating challenges. Whether you are acquiring, refinancing, or repositioning a multifamily property, we can help structure financing aligned with your investment strategy.
Contact Select Commercial today to discuss your financing needs and explore competitive Bronx multifamily loan options for your next New York City investment.
2026 Staten Island Multifamily Loan Market Overview
Staten Island offers a distinct profile within New York City for multifamily loans, characterized by lower density, a more suburban layout, and a mix of low-rise multifamily properties and mixed-use assets. Compared to other boroughs, Staten Island attracts investors seeking stable rental demand, more moderate acquisition pricing, and long-term income potential. Across Staten Island NYC, multifamily assets continue to appeal to investors looking for consistent performance in a less competitive environment.
Staten Island Multifamily Loan Rates and Financing in 2026
Financing conditions for Staten Island multifamily loans remain active in 2026, with lenders maintaining disciplined underwriting standards. Key considerations include property condition, rent history, occupancy levels, and mixed-use exposure. Select Commercial works with agency lenders, banks, debt funds, and private capital sources to structure multifamily financing solutions for both stabilized and value-add assets throughout Staten Island NYC.
Trends in the Staten Island NYC Multifamily Market
The Staten Island multifamily market continues to attract local and regional investors seeking assets with more manageable entry points compared to higher-priced boroughs. Investor focus remains on well-located low-rise multifamily buildings and mixed-use properties in neighborhoods where long-term tenancy, neighborhood stability, and reduced institutional competition support consistent cash flow.
Staten Island Rent Levels in 2026
Rent levels in Staten Island remain more affordable than many other parts of New York City, helping support steady tenant demand. Recent data shows median gross rent at approximately $1,750, with continued demand driven by renters seeking more space and relative affordability. These conditions support ongoing interest in multifamily loans across Staten Island NYC.
- Median gross rent: Approximately $1,750
- Market profile: More affordable than many other NYC boroughs
- Tenant appeal: Space, value, and neighborhood stability
For investors evaluating multifamily financing, Staten Island offers a combination of moderate rent levels and more accessible acquisition pricing, which can help support debt-service coverage and long-term asset performance.
Multifamily Supply and Demand in Staten Island NYC
Supply remains relatively limited across Staten Island NYC, as the borough has significantly less large-scale multifamily inventory compared to other parts of New York City. New development activity remains constrained, allowing well-maintained properties to benefit from steady tenant demand. While not as supply-constrained as some boroughs, the overall inventory remains limited enough to support long-term occupancy for quality multifamily assets.
Opportunities for Multifamily Investment in Staten Island
Investors seeking Staten Island multifamily loans are often focused on low-rise buildings, mixed-use properties, and older multifamily assets with operational upside. Opportunities include renovation strategies, improved management, and long-term hold investments. Staten Island offers a unique position within the broader New York multifamily loan market, with less institutional competition and a more localized ownership base.
Popular Staten Island NYC Neighborhoods for Multifamily Investment
Several Staten Island NYC neighborhoods continue to stand out for multifamily investment opportunities. Areas with stable demand, accessible pricing, and long-term growth potential remain key targets for investors.
- St. George
- Great Kills
- Tottenville
- New Dorp
- West Brighton
- Port Richmond
- Rosebank
Financing a Staten Island Multifamily Loan with Select Commercial
Select Commercial provides tailored financing solutions for investors seeking multifamily loans in Staten Island NYC. We understand the complexities of underwriting urban assets, including mixed-use components, localized demand drivers, and property-specific challenges. Whether you are acquiring, refinancing, or repositioning a multifamily property, we can help structure financing aligned with your investment strategy.
Contact Select Commercial today to discuss your financing needs and explore competitive Staten Island multifamily loan options for your next New York City investment.
Multifamily Property Types We Finance in New York
At Select Commercial, we provide multifamily financing for a broad range of New York multifamily properties—from stabilized 5+ unit buildings to large-scale portfolios. Whether your asset is urban, suburban, or mixed-use, we tailor each multifamily commercial real estate loan to match your investment strategy and property type.
- Urban mid-rise and high-rise multifamily buildings
- Suburban garden-style apartment complexes
- Small multifamily buildings with 5+ units
- Mixed-use properties with residential and limited commercial space
- Underlying co-op building loans
- Portfolios of small multifamily or single-family rental properties
- Stabilized properties with solid cash flow and rent history
If you're unsure whether your property qualifies for a multifamily loan, contact us for a free quote and we'll review your deal within 24 hours.
Recent Multifamily Loan Closings
Why New York Borrowers Choose Select Commercial
Experienced multifamily investors trust Select Commercial for our transparent process, deep market knowledge, and consistent execution in the New York multifamily loan market. We specialize in large balance multifamily financing and deliver personalized solutions for investors seeking a reliable multifamily commercial real estate loan partner.
- Over 30 years of multifamily loan experience with a national reach
- No upfront fees and pre-approvals typically issued within 24 hours
- Access to aggressive terms from leading multifamily lenders
- Hands-on support from quote to closing
Want to see why serious investors trust us with large balance multifamily loans? Start with a free quote – we'll review your loan scenario and respond quickly.
Our Reviews
Latest Expert Insights from Stephen A. Sobin
Stephen A. Sobin, the president of Select Commercial Funding LLC, is a nationally recognized authority in multifamily financing. His insights and analysis are regularly featured in leading publications covering multifamily loans and commercial real estate. Below are his latest contributions offering valuable perspective on multifamily commercial real estate trends and market dynamics in New York and beyond.
Inflation's Current Impact on Multifamily
In an article featured in Multi-Housing News, Sobin explains how commercial mortgage rates continue to challenge investors, with elevated inflation depressing real estate market activity. Read the full article.
Will the July Jobs Report Pressure the Fed to Act?
Sobin noted in Multi-Housing News that unemployment hit a three-year high and job creation slowed significantly—factors that could push the Fed to reconsider future rate hikes. Read the full article.
Persistent Inflation and Its Effects on CRE
In Multi-Housing News, Sobin acknowledges that while inflation remains a concern, a softening CPI is a promising signal for investors navigating the multifamily loan landscape. Read the full article.
Commercial Spotlight: Mid-Atlantic Region
Featured in Scotsman Guide, Sobin outlines how shifting investor interest is impacting New York and other Mid-Atlantic multifamily commercial real estate markets. Read the full article.
What the New Jobs Report Means for CRE
In Commercial Property Executive, Sobin offers perspective on economic uncertainty and buyer-seller hesitancy across the commercial real estate and multifamily financing sectors. Read the full article.
Decoding "Junk Fees" in Rental Housing
In Multi-Housing News, Sobin helps clarify the difference between legitimate third-party fees and misleading “junk fees.” Read the full article.
Understanding the Impact of Federal Reserve's Decisions
In Multi-Housing News, Sobin forecasted the Fed's rate pause, citing recession concerns and recent bank instability. Read the full article.
Stay tuned for more expert insights from Stephen A. Sobin as he continues to share his expertise on multifamily loans, capital markets, and financing solutions throughout New York and across the country.
New York Multifamily Market Snapshot (2025)
Average Rents by Borough:
- Manhattan: $5,778
- Brooklyn: $3,424
- Queens: $3,160
- Bronx: ~$2,200
- Staten Island: ~$1,950
- Citywide Average: $5,194 (up 7% from December 2023)
Vacancy Rates (2025):
- Citywide Net Rental Vacancy: 1.41%
- Rent-Stabilized Units: 0.98%
- Market-Rate Units: 1.84%
- By Borough:
- Manhattan: 2.33%
- Brooklyn: 1.27%
- Queens: 0.88%
- Bronx: 0.82%
Key 2025 Trends Impacting Multifamily Investment:
- Rental inventory expected to surge 85%, adding ~34,800 new units and reshaping multifamily financing strategies
- NYC leads the nation in office-to-residential conversions (8,310 units, up 59%), creating new opportunities for multifamily commercial real estate loans
- Over 2,000 rent-stabilized units facing foreclosure due to financial stress—driving demand for creative multifamily loan solutions
Frequently Asked Questions About New York Multifamily Loans
Multifamily loan rates in New York depend on several factors including loan size, property condition, borrower strength, and leverage. As of 2025, interest rates remain elevated due to persistent inflation, but high-quality borrowers with strong assets can still secure competitive terms. View our latest multifamily loan rates for updates.
Lenders generally require a DSCR of 1.25 or better, strong borrower credit, relevant experience, and post-closing liquidity. For large balance multifamily commercial real estate loans, loan-to-value ratios typically range from 60% to 70%, with conservative underwriting due to current rate conditions.
Most large balance multifamily lenders require 25% to 35% equity. Higher leverage may be available on stabilized Class A assets or with low loan-per-unit metrics. Select Commercial can help structure a loan based on your capital stack and property profile.
Large balance multifamily financing requires tailored solutions. Select Commercial works with a wide range of capital sources—including banks, life companies, CMBS, agency, and private lenders—giving you access to more options, better terms, and higher certainty of execution.
The process begins with a review of property-level financials, including a current rent roll, trailing 12-month operating statement, borrower net worth, liquidity, and experience. Our team quickly assesses eligibility and provides a pre-approval when qualified. Start with a Free Quote today.
Select Commercial also specializes in loans under $6 million. If you're refinancing a smaller apartment loan, we can help structure multifamily financing with competitive rates and flexible terms. Visit our New York apartment loan page for details.
Yes. Select Commercial specializes in large balance multifamily loans across New York, including transactions well above $6 million. We work with institutional lenders that can finance portfolios, new developments, and value-add acquisitions with flexible, scalable terms.
Popular New York Areas We Serve
We proudly work with multifamily investors throughout New York State, offering tailored multifamily loan solutions in the following boroughs and cities:
- Manhattan
- Brooklyn
- Queens
- Bronx
- Staten Island
- Yonkers
- New Rochelle
- White Plains
- Albany
- Buffalo
- Rochester
- Syracuse
Whether you're seeking multifamily financing for a 10-unit building in Manhattan or a $15 million portfolio in Brooklyn, Select Commercial connects you with top multifamily lenders to deliver the right multifamily commercial real estate loan for your investment goals.
Agency Large‑Balance Multifamily Loan Programs (Over $6 Million)
Select Commercial connects borrowers with premier agency-backed large-balance multifamily loan programs—perfect for financing institutional-scale properties across New York and beyond.
- Fannie Mae® Multifamily (DUS® platform) – Large‑balance non‑recourse multifamily financing, including fixed, floating, hybrid‑ARM, and interest‑only options
- Freddie Mac® Multifamily – Comprehensive large‑balance multifamily financing (fixed and floating) with up to $250 M in loan capacity
These agency programs offer non‑recourse structures, competitive fixed or floating rates, strong leverage (typically up to ~80 % LTV), and streamlined execution—ideal for experienced investors pursuing well‑performing multifamily assets.