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 | 5.26% | Up to 75% | |
| Multifamily Loan 7 Yr Fixed | 5.31% | 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
What Lenders Look for in a New York Apartment Loan
What Lenders Look For
Before you apply for a New York apartment loan, it helps to understand what lenders are actually evaluating. In this short video, Select Commercial President Stephen Sobin outlines the key borrower and property qualifications that influence approval.
Watch to learn:
- What makes a loan request stand out or get rejected
- The importance of cash flow, occupancy, and borrower experience
- Which documents lenders require to issue a pre-approval
Understanding Your Apartment Loan Options
Apartment Loan Lending Options
Not all apartment loans are created equal. In this short video, Stephen Sobin explains the most common types of apartment loan programs and when each one makes the most sense for New York borrowers.
- Bank vs. agency vs. private apartment lenders
- Short-term vs. long-term fixed-rate options
- How to structure your loan based on your property and investment goals
Our New York Multifamily Loan Process
We make applying for a New York multifamily loan fast, transparent, and cost-effective. Our process is designed for borrowers seeking large balance multifamily financing backed by experienced multifamily lenders. Below is a step-by-step overview of what to expect when working with Select Commercial:
Step 1: Initial Screening
During an introductory call or email, we gather the basics of your transaction. If the request doesn’t meet multifamily loan guidelines, we’ll let you know right away.
Step 2: Document Request
If eligible, we’ll send a short checklist to review your financials, credit, and property cash flow. This helps us evaluate your multifamily commercial real estate loan scenario.
Step 3: Underwriter Review
Once documents are received, underwriting begins. If your multifamily loan qualifies, we issue a written pre-approval. If not, we’ll explain why.
Step 4: Pre-Approval Letter
If approved, we send a detailed pre-approval letter outlining preliminary terms and any additional documentation needed.
Step 5: Third-Party Reports
Once pre-approved, the underwriter orders the appraisal and other required third-party reports. A good faith deposit is collected to cover these costs.
Step 6: Final Submission
Once all documentation and reports are in, underwriting is finalized and a formal multifamily loan commitment is issued.
Step 7: Legal & Closing
Our legal team prepares the closing checklist and any final conditions. Once satisfied, we move forward with closing.
Step 8: Timeline
Most multifamily loans close within 30 to 60 days, depending on deal complexity and how quickly documents are submitted.
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.