New York Apartment Building Loans
At Select Commercial, we offer New York apartment loan financing with competitive rates starting at 5.39%. Whether you're purchasing or refinancing, our low fees, fast approvals, and simple process make us a trusted source for apartment building loans throughout New York State.
Looking for a loan on a different commercial property type? Visit our New York commercial mortgage page. Or to compare current rates on every program we offer nationwide, see our commercial mortgage rate chart.
New York Apartment Loan Rates
Below are our current New York apartment loan rates for properties between $1.5 million and $6 million. Looking for a larger loan? We also offer multifamily loan programs for New York properties over $6 million.
| NY Apartment Loans ($1,500,000 - $6,000,000) | Free Loan Quote | ||
|---|---|---|---|
| Loan Type | Rate* | LTV | |
| Apartment Loan 5 Yr Fixed | 5.79% | Up to 80% | |
| Apartment Loan 7 Yr Fixed | 5.81% | Up to 80% | |
| Apartment Loan 10 Yr Fixed | 5.86% | Up to 80% | |
*Rates start as low as the rates stated here. Your rate, LTV, and amortization will be determined by underwriting.
Want a personalized quote? Click here to request a customized loan quote for your New York apartment 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
Apartment Property Types We Finance in New York
At Select Commercial, we arrange financing for a wide range of New York apartment buildings, from smaller 5+ unit walkups to large portfolios of rental properties. Whether your property is urban, suburban, or mixed-use, we can help you secure the right loan structure based on your investment goals.
- Urban mid-rise and high-rise apartment buildings
- Suburban garden-style apartment complexes
- Small apartment buildings with 5+ units
- Mixed-use properties with residential and limited commercial space
- Underlying co-op apartment building loans
- Portfolios of small multifamily or single-family rental properties
- Stabilized buildings with strong cash flow and rent history
If you're not sure whether your property qualifies, contact us for a free quote and we'll review your deal and let you know within 24 hours.
2026 Manhattan NYC Apartment Loan Market Overview
New York City heads into 2026 with a supply backdrop that is expected to be the most favorable in years, even as policy uncertainty and weaker household growth create underwriting friction. For New York City investors pursuing apartment building loans, the same drivers behind a strong New York City apartment loan remain the focus: job growth, the pace of new deliveries, vacancy direction, and rent momentum.
Employment Outlook Remains Positive, But Slower
Employers are projected to add about 25,000 jobs in 2026, roughly half of last year's total. Even with the slowdown, New York City's 0.5% job growth rate is still expected to rank second among major Northeast metros, supporting baseline renter demand for New York City apartment loan properties.
Construction Pullback Is the Big Story
Deliveries in 2026 are forecast to be the lowest total in over a decade as supply growth slows to about 0.7%, with roughly 15,000 units delivering. Brooklyn is expected to lead the pullback, receiving about 9,000 fewer units than last year, which should help reduce competitive lease-up pressure.
Vacancy Expected to Lift Slightly
Sluggish job growth and broader economic headwinds are expected to temper demand, lifting vacancy slightly by about 20 bps to roughly 2.8%. Even with the uptick, vacancy remains extremely low by national standards, and that floor can be important when structuring a New York City apartment building loan.
Rent Growth Holds Below 3% Again
Easing new supply may support upper-tier rents, but softer leasing is expected to keep overall growth below 3% for a fifth straight year. Average effective rent is projected to reach about $3,190 per month in 2026, up roughly 2.1%. These trends support a more measured underwriting stance for New York City apartment loans.
2026 New York City Apartment Loan Market Forecast
- Employment Growth: About 25,000 jobs added in 2026 (approximately +0.5%).
- Construction Trends: About 15,000 units projected for delivery, with supply growth near 0.7% and a major pullback concentrated in Brooklyn.
- Vacancy: Vacancy projected near 2.8%, increasing by about 20 bps.
- Rent: Average effective rent projected near $3,190 per month, up about 2.1%.
New York City ranks near the middle of major markets as policy uncertainty and weak household growth offset the benefit of declining construction activity. In prime areas, leasing remains firm and a sharp drop in 2026 deliveries should help maintain steady fundamentals even if job and immigration growth come in softer than expected.
For investors comparing New York City apartment building loans, 2026 underwriting may place added weight on regulatory exposure, rent collection, and expense discipline, especially for lower-tier and regulated product. At the same time, assets outside the main rent-regulation regime are expected to draw more interest as investors look to reduce regulatory headwinds. These conditions can shape the way a New York City apartment loan is structured, including leverage, reserves, and rent growth assumptions tied to the property's unit mix and regulatory profile.
2026 Brooklyn Apartment Loan Market Overview
Brooklyn remains one of the strongest locations in the city for New York apartment loans, especially for investors targeting 5+ unit properties under $6 million. The borough continues to attract buyers seeking stable rental demand, long-term appreciation, and neighborhood-driven value-add opportunities. Across Brooklyn NYC, smaller apartment buildings, mixed-use properties, and walk-up assets remain active targets for borrowers looking to secure financing in one of the most supply-constrained rental markets in the country.
Brooklyn Apartment Loan Rates and Financing in 2026
Financing conditions for Brooklyn apartment loans remain active in 2026, although lenders continue to underwrite carefully due to property condition, mixed-use exposure, insurance costs, and market-specific operating expenses. Select Commercial helps investors arrange New York apartment loans through agency, bank, debt fund, and private lending channels, with structures designed for stabilized and value-add apartment properties throughout Brooklyn NYC.
Trends in the Brooklyn NYC Apartment Market
The Brooklyn NYC apartment market continues to benefit from steady renter demand and limited available inventory. Investors remain focused on neighborhoods where older housing stock, strong leasing demand, and long-term neighborhood momentum support acquisitions under $6 million. Many buyers are targeting 5+ unit apartment buildings and smaller mixed-use properties that offer renovation, repositioning, or long-term hold potential without entering larger institutional pricing ranges.
Brooklyn Rent Levels in 2026
Apartment rents in Brooklyn remain elevated in 2026 and continue to support investor interest in Brooklyn apartment loans. Recent market data shows average rent in Brooklyn at roughly $4,264 per month, with strong pricing across all major unit types. These rent levels continue to support underwriting for income-producing apartment properties across 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 borrowers seeking New York apartment loans, Brooklyn's rent strength can help support debt-service coverage on stabilized assets, particularly in neighborhoods with durable tenant demand and limited turnover.
Apartment Supply and Demand in Brooklyn NYC
Supply remains tight across Brooklyn NYC. Recent leasing data shows listing inventory declining year over year, while official vacancy data continues to reflect a constrained rental market. That imbalance between supply and demand helps support occupancy, rent growth, and long-term investor interest. For lenders and borrowers alike, Brooklyn continues to stand out as an important part of the broader New York apartment loan market.
Opportunities for Apartment Investment in Brooklyn
Investors looking for Brooklyn apartment loans are often focused on 5+ unit walk-up buildings, smaller mixed-use properties, and older apartment assets that can benefit from improved management, selective renovation, or long-term hold strategies. Brooklyn offers a broad range of neighborhood-level opportunities, giving borrowers more flexibility than some tighter Manhattan submarkets while still benefiting from strong renter demand and long-term appreciation potential.
Popular Brooklyn NYC Neighborhoods for Apartment Building Investment
For borrowers seeking New York apartment loans under $6 million, several Brooklyn NYC neighborhoods continue to stand out for smaller apartment building and mixed-use opportunities. Popular areas include Bushwick, Crown Heights, Bedford-Stuyvesant, Flatbush, Sunset Park, Bay Ridge, and Kensington.
- Bushwick
- Crown Heights
- Bedford-Stuyvesant
- Flatbush
- Sunset Park
- Bay Ridge
- Kensington
Financing a Brooklyn Apartment Loan with Select Commercial
Select Commercial provides tailored financing solutions for investors seeking New York apartment loans in Brooklyn NYC under $6 million. We understand the challenges of financing apartment properties in urban markets with mixed-use components, older building stock, and property-specific underwriting issues. Whether you are acquiring, refinancing, or repositioning a Brooklyn apartment building, we can help structure a loan that fits your investment goals.
Contact Select Commercial today to discuss your financing needs and explore competitive Brooklyn apartment loan options for your next New York City investment property.
2026 Queens Apartment Loan Market Overview
Queens remains one of the most attractive boroughs for New York apartment loans, especially for investors targeting 5+ unit properties under $6 million. With diverse housing stock, strong renter demand, and a broader range of neighborhood price points than Manhattan or parts of Brooklyn, Queens NYC continues to offer solid opportunities for apartment investors seeking stable cash flow and long-term upside.
Queens Apartment Loan Rates and Financing in 2026
Financing conditions for Queens apartment loans remain active in 2026, although lenders continue to underwrite carefully based on property condition, mixed-use exposure, operating expenses, and borrower experience. Select Commercial helps investors arrange New York apartment loans through agency, bank, debt fund, and private lending channels, with structures designed for stabilized and value-add apartment properties throughout Queens NYC.
Trends in the Queens NYC Apartment Market
The Queens NYC apartment market continues to benefit from durable rental demand, neighborhood diversity, and more accessible entry points than many other parts of New York City. Investors remain focused on 5+ unit apartment buildings and smaller mixed-use properties in transit-oriented neighborhoods where leasing demand remains steady. In many submarkets, buyers are targeting older buildings that offer renovation, repositioning, or long-term hold potential without crossing into larger institutional pricing tiers.
Queens Rent Levels in 2026
Apartment rents in Queens remain strong in 2026 and continue to support investor interest in Queens apartment loans. Recent market data shows average rent in Queens at roughly $3,076 per month, with healthy pricing across major unit types. These rent levels continue to support underwriting for income-producing apartment properties across Queens NYC.
- Studio average: Approximately $2,525
- One-bedroom average: Approximately $2,928
- Two-bedroom average: Approximately $3,774
For borrowers seeking New York apartment loans, Queens offers a strong balance of rent support and more moderate acquisition pricing, which can help improve debt-service coverage on stabilized assets.
Apartment Supply and Demand in Queens NYC
Supply remains tight across Queens NYC. Official vacancy data continues to reflect a constrained rental market, while many neighborhoods still experience strong leasing demand driven by transit access, relative affordability, and population density. This ongoing imbalance between supply and demand supports occupancy and makes Queens an important part of the broader New York apartment loan market.
Opportunities for Apartment Investment in Queens
Investors looking for Queens apartment loans are often focused on 5+ unit walk-up buildings, smaller mixed-use properties, and older apartment assets that can benefit from improved management, selective renovation, or long-term hold strategies. Queens offers a wide range of neighborhood-level opportunities, giving borrowers flexibility across different price points while still benefiting from strong renter demand and long-term appreciation potential.
Popular Queens NYC Neighborhoods for Apartment Building Investment
For borrowers seeking New York apartment loans under $6 million, several Queens NYC neighborhoods continue to stand out for smaller apartment building and mixed-use opportunities. Popular areas include Jackson Heights, Elmhurst, Woodside, Ridgewood, Jamaica, Sunnyside, and Flushing.
- Jackson Heights
- Elmhurst
- Woodside
- Ridgewood
- Jamaica
- Sunnyside
- Flushing
Financing a Queens Apartment Loan with Select Commercial
Select Commercial provides tailored financing solutions for investors seeking New York apartment loans in Queens NYC under $6 million. We understand the challenges of financing apartment properties in urban markets with mixed-use components, older building stock, and property-specific underwriting issues. Whether you are acquiring, refinancing, or repositioning a Queens apartment building, we can help structure a loan that fits your investment goals.
Contact Select Commercial today to discuss your financing needs and explore competitive Queens apartment loan options for your next New York City investment property.
2026 Bronx Apartment Loan Market Overview
The Bronx remains one of the most accessible boroughs for New York apartment loans, especially for investors targeting 5+ unit properties under $6 million. With a large base of pre-war housing stock, strong renter demand, and more attainable pricing than Manhattan or many parts of Brooklyn, Bronx NYC continues to offer attractive opportunities for apartment investors seeking steady cash flow and long-term upside.
Bronx Apartment Loan Rates and Financing in 2026
Financing conditions for Bronx apartment loans remain active in 2026, although lenders continue to underwrite carefully based on property condition, rent history, operating expenses, and mixed-use exposure. Select Commercial helps investors arrange New York apartment loans through agency, bank, debt fund, and private lending channels, with structures designed for stabilized and value-add apartment properties throughout Bronx NYC.
Trends in the Bronx NYC Apartment Market
The Bronx NYC apartment market continues to benefit from durable renter demand and a broad inventory of older apartment buildings that appeal to smaller balance investors. Buyers remain focused on 5+ unit apartment buildings and smaller mixed-use properties in neighborhoods where transit access, healthcare employment, and neighborhood reinvestment support long-term occupancy. In many submarkets, investors are targeting properties that offer renovation, repositioning, or long-term hold potential without entering larger institutional pricing tiers.
Bronx Rent Levels in 2026
Apartment rents in the Bronx remain firm in 2026 and continue to support investor interest in Bronx apartment loans. Recent market data shows Bronx asking rents at roughly $2,089 for studios, $2,530 for one-bedroom units, and $3,071 for two-bedroom units. These rent levels continue to support underwriting for income-producing apartment properties across Bronx NYC.
- Studio average: Approximately $2,089
- One-bedroom average: Approximately $2,530
- Two-bedroom average: Approximately $3,071
For borrowers seeking New York apartment loans, the Bronx offers a strong balance of rent support and more moderate acquisition pricing, which can help improve debt-service coverage on stabilized assets.
Apartment Supply and Demand in Bronx NYC
Supply remains tight across Bronx NYC. Vacancy remains 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 helps make the Bronx an important part of the broader New York apartment loan market.
Opportunities for Apartment Investment in the Bronx
Investors looking for Bronx apartment loans are often focused on 5+ unit walk-up buildings, smaller elevator buildings, mixed-use properties, and older apartment assets that can benefit from improved management, selective renovation, or long-term hold strategies. The Bronx offers a wide range of neighborhood-level opportunities, giving borrowers flexibility across different price points while still benefiting from strong renter demand and long-term appreciation potential.
Popular Bronx NYC Neighborhoods for Apartment Building Investment
For borrowers seeking New York apartment loans under $6 million, several Bronx NYC neighborhoods continue to stand out for smaller apartment building and mixed-use opportunities. Popular areas include Mott Haven, Fordham, Kingsbridge, Belmont, University Heights, Morris Park, and Soundview.
- Mott Haven
- Fordham
- Kingsbridge
- Belmont
- University Heights
- Morris Park
- Soundview
Financing a Bronx Apartment Loan with Select Commercial
Select Commercial provides tailored financing solutions for investors seeking New York apartment loans in Bronx NYC under $6 million. We understand the challenges of financing apartment properties in urban markets with older building stock, mixed-use components, and property-specific underwriting issues. Whether you are acquiring, refinancing, or repositioning a Bronx apartment building, we can help structure a loan that fits your investment goals.
Contact Select Commercial today to discuss your financing needs and explore competitive Bronx apartment loan options for your next New York City investment property.
2026 Staten Island Apartment Loan Market Overview
Staten Island offers a different profile than the other boroughs for New York apartment loans, especially for investors targeting 5+ unit properties under $6 million. With a lower-density layout, a more suburban feel, and a mix of low-rise apartment buildings and mixed-use assets, Staten Island NYC continues to appeal to borrowers looking for steady rental demand, more moderate pricing, and long-term income potential.
Staten Island Apartment Loan Rates and Financing in 2026
Financing conditions for Staten Island apartment loans remain active in 2026, although lenders continue to underwrite carefully based on property condition, rent history, occupancy, and mixed-use exposure. Select Commercial helps investors arrange New York apartment loans through agency, bank, debt fund, and private lending channels, with structures designed for stabilized and value-add apartment properties throughout Staten Island NYC.
Trends in the Staten Island NYC Apartment Market
The Staten Island NYC apartment market continues to attract local and regional investors looking for smaller apartment buildings with more manageable entry points than Manhattan, Brooklyn, or many parts of Queens. Buyers are often focused on well-located low-rise apartment buildings and mixed-use properties in neighborhoods where long-term tenancy, neighborhood stability, and less institutional competition can support consistent cash flow.
Staten Island Rent Levels in 2026
Apartment rents in Staten Island remain more affordable than many other parts of New York City, which helps support steady tenant demand. Recent borough-level data shows median gross rent in Staten Island at roughly $1,750, while the borough continues to benefit from demand driven by renters seeking more space and relative affordability within New York City. For borrowers pursuing Staten Island apartment loans, that pricing profile can support stable occupancy and long-term hold strategies.
- Median gross rent: Approximately $1,750
- Market profile: More affordable than many other NYC boroughs
- Tenant appeal: Space, value, and neighborhood stability
For investors seeking New York apartment loans, Staten Island can offer a more moderate rent environment paired with more accessible acquisition pricing, which may help support debt-service coverage on stabilized apartment assets.
Apartment Supply and Demand in Staten Island NYC
Supply remains relatively limited in Staten Island NYC because the borough has far less large-scale apartment inventory than the other major boroughs. New apartment development is more limited, and well-maintained properties can benefit from steady demand. While Staten Island is not as supply-constrained as some other boroughs, the available apartment stock remains comparatively limited, which can help support long-term occupancy for quality assets.
Opportunities for Apartment Investment in Staten Island
Investors looking for Staten Island apartment loans are often focused on 5+ unit low-rise apartment buildings, smaller mixed-use properties, and older apartment assets that can benefit from improved management, selective renovation, or long-term hold strategies. Staten Island offers borrowers a different kind of opportunity within the broader New York apartment loan market, with less competition from institutional buyers and a more localized ownership profile.
Popular Staten Island NYC Neighborhoods for Apartment Building Investment
For borrowers seeking New York apartment loans under $6 million, several Staten Island NYC neighborhoods continue to stand out for smaller apartment building and mixed-use opportunities. Popular areas include St. George, Great Kills, Tottenville, New Dorp, West Brighton, Port Richmond, and Rosebank.
- St. George
- Great Kills
- Tottenville
- New Dorp
- West Brighton
- Port Richmond
- Rosebank
Financing a Staten Island Apartment Loan with Select Commercial
Select Commercial provides tailored financing solutions for investors seeking New York apartment loans in Staten Island NYC under $6 million. We understand the challenges of financing apartment properties in urban markets with mixed-use components, neighborhood-specific demand, and property-specific underwriting issues. Whether you are acquiring, refinancing, or repositioning a Staten Island apartment building, we can help structure a loan that fits your investment goals.
Contact Select Commercial today to discuss your financing needs and explore competitive Staten Island apartment loan options for your next New York City investment property.
Recent Apartment Loan Closings
Why New York Borrowers Choose Select Commercial
Thousands of apartment building investors trust Select Commercial for our direct, transparent approach and proven expertise in the New York apartment loan market. We're not just brokers, we provide personalized service, fast answers, and access to top institutional lenders without the bureaucracy of traditional banks.
- Over 30 years of apartment loan experience with a national platform
- No upfront fees and fast pre-approvals, often within 24 hours
- Direct access to top lenders offering aggressive terms
- Dedicated support from quote to closing
Want to see why so many clients return to us for their next deal? Start with a free quote – we'll review your 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 renowned expert in the field of multifamily financing. His insights and perspectives are regularly featured in leading industry publications. Below are his latest contributions, offering deep analysis on the multifamily financing landscape and current market dynamics.
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 the industry. 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 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 market. 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 finance across New York and beyond.
New York Apartment Market Snapshot (2025)
Average Rent 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 Rate: 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:
- New rental inventory expected to increase by 85%, adding ~34,800 apartments
- NYC leads in office-to-residential conversions: 8,310 units (up 59%)
- Over 2,000 rent-stabilized apartments are facing foreclosure due to financial distress
Frequently Asked Questions About New York Apartment Loans
New York apartment loan rates vary depending on several factors such as loan-to-value ratio (LTV), property type, borrower experience, and market conditions. As of 2025, rates remain elevated due to ongoing inflation concerns, but borrowers with strong credit and high-quality assets can still find competitive pricing. Check our latest apartment loan rates for current updates.
Most lenders require a DSCR of at least 1.25, good borrower credit, net worth, liquidity, and experience. Loan-to-value ratios in 2025 typically range from 65% to 75%, due to elevated interest rates. Properties with strong occupancy and clean financials stand a better chance of qualifying.
Most lenders require 20% to 25% down for apartment loans in New York. For stronger properties or experienced borrowers, higher leverage might be available. Owner-occupied commercial properties may qualify for up to 90% financing through certain programs.
A qualified broker like Select Commercial can present your loan to many different capital sources, including banks, credit unions, CMBS, agency lenders, and private funds. This increases the odds of approval and helps you secure the most favorable terms available.
The process starts with gathering financials like a rent roll, trailing 12-month income and expense statement, borrower resume, and net worth statement. A mortgage broker will analyze your documents and match you with the best lending program. Start with a Free Quote today.
In 2025, many existing apartment loans are maturing with rates far below today’s market. Refinancing may require borrowers to inject cash or seek equity partners. We recommend flexible terms with low prepay penalties so you can refinance again if rates drop.
Absolutely. While this page focuses on apartment loans under $6 million, Select Commercial also arranges larger balance loans for qualified borrowers. Visit our multifamily loan page for options over $6 million.
Agency Small Balance Apartment Loan Programs
In addition to bank and private capital loans, Select Commercial helps borrowers access top agency small balance loan programs. These include:
- Fannie Mae® Small Loan Program – Designed for properties with 5+ units and loans from $1M to $6M
- Freddie Mac® Small Balance Loan (SBL) Program – Streamlined financing up to $7.5M
- Multifamily Loans Over $6 Million – Visit our dedicated New York large-balance loan page
These programs offer competitive fixed rates, non-recourse options, and simplified processing for qualified borrowers.