New York Apartment Building/Multifamily Loans

At Select Commercial, we specialize in New York apartment building loans and any type of multifamily financing, offering competitive rates and customized apartment loan solutions starting at $1,500,000. Whether you're using multifamily financing for an apartment complex or seeking a multifamily loan to finance an apartment building, our expertise in New York multifamily investment is unmatched. Explore our New York commercial mortgages for diverse real estate opportunities, or visit our commercial mortgage rates page for a detailed overview of our loan products and their rates available nationwide.

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New York Multifamily Loan Rates - updated 4/17/24

Multifamily >$6Million Rate* LTV
Multifamily 5 Yr Fixed 5.96% Up to 80%
Multifamily 7 Yr Fixed 5.91% Up to 80%
Multifamily 10 Yr Fixed 5.88% Up to 80%
Multifamily <$6Million Rate* LTV
Multifamily 5 Yr Fixed 6.22% Up to 80%
Multifamily 7 Yr Fixed 6.12% Up to 80%
Multifamily 10 Yr Fixed 6.11% Up to 80%
*Rates start as low as the rates stated here. Your rate, LTV and amortization will be determined by underwriting.

New York Multifamily Loan Benefits

New York Apartment Loan rates start as low as 5.88% (as of April 17th, 2024)
• A commercial mortgage broker with over 30 years of lending experience
• No upfront application or processing fees
• Simplified application process
• Up to 80% LTV on multifamily financing 
• Terms and amortizations up to 30 years 
• Multifamily loans for purchase and refinance, including cash-out 
• 24 hour written pre-approvals with no cost and no obligation

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 sought by leading industry publications. Here are his latest contributions that highlight his deep understanding of the multifamily financing landscape and his commitment to providing clear, insightful analysis on key industry issues.

Persistent Inflation and Its Effects on CRE

In an article featured in Multi-Housing News, Stephen Sobin highlighted that while inflation is still a challenge for the Federal Reserve, there are many positive signs for the commercial real estate industry. The headline Consumer Price Index rose 3.2 percent for the year ended Feb. 29, a figure 20 basis points lower than the Dec. 31, 2023, rate. read the full article.

Commercial Spotlight: Mid-Atlantic Region In this four-state powerhouse, smaller metros are thriving.

In a feature in Scotsman Guide, the Mid-Atlantic Region's real estate dynamics are explored, highlighting its resilience and growth amidst the pandemic.

Stephen Sobin of Select Commercial Funding LLC shared insights on the New York market's allure and the challenges buyers face. He noted the shift from primary urban areas to tertiary markets due to evolving preferences and financial conditions. For a deeper dive into Sobin's analysis, read the full article.

What the New Jobs Report Means for CRE

In an article titled "What the New Jobs Report Means for CRE" in Commercial Property Executive, Stephen Sobin shared his perspective on the latest jobs report and its implications for the Commercial Real Estate (CRE) sector. He highlighted the challenges posed by high interest rates and the prevailing uncertainty in the market. Sobin remarked, "Sellers aren’t selling, buyers aren’t buying... Everyone is waiting because no one knows what to expect." For a detailed analysis and more of Sobin's insights, read the full article.

Decoding "Junk Fees" in Rental Housing

In another latest contribution to Multi-Housing News, Sobin provided expert commentary in an article titled "What's Next for Junk Fees? The Industry Weighs In". He clarified the difference between legitimate fees collected for various third-party services and so-called "junk fees". Sobin emphasized the importance of borrowers understanding their rights in negotiating all loan terms and the obligation of lenders to disclose all fees.

Understanding the Impact of Federal Reserve's Decisions

In a recent article titled "How the Fed's Pause on Interest Rates Impacts Multifamily" published by Multi-Housing News, Sobin shared his expert insights on the Federal Reserve's decision to pause interest rate hikes. He accurately predicted that the Fed would not raise rates in June, citing recent bank failures and lingering concerns about a potential recession.

Stay tuned for more expert insights from Stephen A. Sobin on the evolving multifamily financing landscape.

 

Frequently Asked Questions

Is multi-family real estate a good investment in 2023?

Inflation fears, high interest rates, and the prospect of recession have slowed the pace of the commercial real estate market considerably. Some property types are outperforming others. Apartment buildings in desirable neighborhoods are performing well, as owners have been able to raise rents and keep up with rising interest rates. Multifamily properties in smaller and less desirable areas, or areas where unemployment is rising, are not performing as well, as rent increases are harder to implement. In the office sector, only medical office buildings are generating lender interest. General office properties have underperformed the market as a result of the work from home policies established during the Covid-19 pandemic. Office demand is unlikely to return to pre-Covid levels making the office sector extremely hard to navigate right now. In the retail sector, essential service businesses, such as grocery stores and pharmacies, are performing well, while traditional brick and mortar retailers are still feeling the effects of Covid-19 and the competition from online retailers. Many malls are experiencing record high vacancy levels, and some are being repositioned for other purposes. In the industrial sector, we are seeing strong demand for warehouse and distribution space to accommodate the online retailers. Industrial space in urban markets and close to transportation are performing very well. We expect to see sales prices for underperforming properties to drop in 2023 as investors gravitate to better positioned properties.

 

There are many different types of lenders offering a myriad of different loan products to finance the acquisition or refinance of apartment properties nationwide. These lenders include agency lenders (Fannie Mae and Freddie Mac), local and national banks, insurance companies, credit unions and private lenders.

Most lenders write apartment loans for five, seven or ten years (fixed) with a 30 year amortization. It is also possible to obtain loans that are fixed for up to 30 years, although this is not the norm. Rates are typically based on a margin over the corresponding US Treasury rate.

Lenders offer non-recourse to strong borrowers and solid properties. The borrower will be expected to have strong credit, good net worth and liquidity, and experience owning and managing similar properties. The property will be expected to demonstrate solid long term positive cash flow, be in good to excellent condition, and be located in a strong market with low vacancy rates.

Apartment loans are typically screened and pre-approved in 2-3 days. Since lenders require appraisals, environmental and property condition reports, and title, closings will usually take 45-60 days from application.

Recent Banking Failures Likely To Impact New York Multifamily Lending

The recent collapse of Silicon Valley Bank and Signature Bank has sent shockwaves through the business and real estate lending sectors. As a leading NY commercial mortgage broker with over 30+ years of experience, Select Commercial knows that the multifamily sector is not immune to these developments. Here's how these banking failures could impact multifamily lending:


Regional Banks Under Pressure

Regional banks, which provide significant liquidity to the apartment sector, are likely to face increased pressure. The collapse of SVB and Signature Bank has raised concerns about the stability of smaller banks. This could lead to a pullback from regional banks providing loans to the multifamily sector, making it more challenging for developers and investors to secure financing.


Development Challenges

Developers could face significant challenges, particularly in securing construction loans and value-add renovation dollars. The current environment is leading to a slowdown in construction lending and a return to traditional underwriting and banker skepticism. This could particularly impact the affordable housing sector, where developers need their financing lined up to secure tax credits.


Volatility in the CMBS Market

CMBS loans have experienced turbulence following the bank failures. This volatility could impact a new crop of lenders that have emerged over the past half-decade, many of which are capital markets-dependent. If the securitization market stabilizes, some of the CMBS and bridge lenders may re-enter the market to fill the liquidity gaps left by regional lenders.


Interest Rate Uncertainty

The bank failures could also contribute to uncertainty around commercial mortgage rates. If these failures lead to a slowdown in rate hikes by the Federal Reserve, this could potentially benefit the commercial real estate market in the long run. However, it's too early to predict the exact impact on apartment transaction volume.


In summary, the recent banking failures have the potential to significantly impact how banks handle multifamily loans. We will closely monitoring these developments to provide the best advice and service to my clients during these uncertain times.

Apartment Loan Basics

Apartment Loan Types We Serve

If you are looking to purchase or refinance a NYC apartment building, don't hesitate to contact us. We arrange financing in the city of NYC for the following:

  • Large urban high-rise multifamily buildings
  • Suburban garden multifamilycomplexes
  • Small multifamily buildings containing 5+ units
  • Underlying cooperative multifamily building loans
  • Portfolios of small multifamily properties and/or single-family rental properties
  • Other multi-family and mixed-use properties

 

Apartment Loans - Lending Options

Apartment Loan Helpful Articles

How to Get the Best Rate on a Multifamily Loan
How to Buy an Apartment Building
Uncomplicated Underwriting
How to Invest in an Apartment Building
Are You Shopping for an Apartment Building Loan?
How To Get The Best Rates On An Apartment Refinance

How do we help our New York apartment loan clients get the best rate and terms?

New York Apartment Building New York
Apartment Building

Select Commercial has excellent New York apartment building loan products and options available for owners and purchasers of apartment properties throughout the state of New York. Whether you are looking for a small apartment building loan or are looking for apartment building financing for a complex with hundreds of units, we can help you find the optimal apartment building financing to meet your apartment building loan needs. While we lend across the entire continental US, we are able to give our best rates and loan programs to certain areas that we feel are strong markets. New York is one of the states that we consider to be a premium market for apartment building loans and we actively look to originate good quality loans here for our clients. We have a diverse array of many available loan products to help qualified NY borrowers looking to purchase or refinance an apartment property. We offer apartment loans with terms and amortizations up to 30 years, recourse and non-recourse, and many options for prepayment. We typically approve apartment building loans within 1 day and usually close within 45 days of application. Our clients love our simplified application process, 24-hour pre-approvals with no-cost and no-obligation, great rates and terms, fast closings and personalized service.

Recent Multifamily Loan Closings

What are the market conditions expected for New York Apartment Loans in 2023?

Experts anticipate above average performance for the multifamily sector in 2023. Occupancy rates are expected to remain above 95% and rental rates are expected to grow by 4%. These figures are not as robust as the past couple of years, however, which saw vacancy rates under 3% and rent growth in the double digits. During the second and third quarters of 2022, leasing activity for apartment buildings was slow. This coincided with a solid pace of new multifamily deliveries to the market. The combination of slower leasing activity and heightened supply caused the overall vacancy rate to increase by 150 basis points in the middle portion of 2022. Throughout 2023, vacancy rates will likely continue to rise at a slower pace and move toward the 20-year average of 5%.


The overall multifamily housing demand is expected to remain strong in 2023. With inflation continuing to impact consumer spending, more and more renters are determining whether to renew their leases. While new leasing activity stalled throughout the middle portion of 2022, the overall multifamily demand remained pretty strong. The rise in home prices and residential mortgage rates is also helping to increase multifamily demand. Monthly payments for homes purchased in the third quarter of 2022 were, on average, 57% more than monthly apartment rents. That difference is the widest gap on record. Even if home values and mortgage rates decrease in 2023, the relatively lower cost of renting will support multifamily demand.


Rapidly rising interest rates on multifamily loans caused multifamily investment activity to slow down in the second half of 2022. Many buyers not willing to pay higher rates for apartment loans stepped out of the market. As apartment loan rates stabilize in 2023, many buyers will return to the market and look to finance apartment building investments with multifamily loans. The multifamily sector has historically been one of the most attractive sectors to investors. Over the past decade, the multifamily sector has seen average annual total returns of 9.3%. Additionally, this sector offers multifamily loan options from both Fannie Mae and Freddie Mac. These apartment loan options are not available for other asset classes. As the market stabilizes in 2023, more and more investors will look to acquire apartment buildings and finance them with agency apartment loans.


One other factor that caused the multifamily sector to stall in 2022 is that buyers expected cap rates to increase commensurate with the rise in interest rates, but sellers still expected higher prices.  This caused many deals to simply not cash flow. Cap rates are expected to increase in 2023. With this increase, many buyers will have the option to finance acquisitions with apartment loans at more attractive prices.

Whether you are purchasing or refinancing, we have the right solutions available for your multifamily mortgage loans. We will entertain apartment loan requests of all sizes, beginning at $1,500,000. Get started with a Free Commercial Mortgage Loan Quote.

New York Rental Statistics and Investor Highlights For Some Of The Areas We've Helped Secure Multifamily Financing

The rental rates for multifamily properties in New York varied widely depending on location. According to rentcafe.com, the average rent in the U.S. is $1,702 (updated May, 2023) with an average apartment size of 897 sq. ft. The average rent for an apartment in the state of New York was $2,552 with an average size of 842 sq. ft. According to the US Census Bureau, the apartment rental vacancy rate for New York is 5.1%.


The Bronx Multifamily Loan Investor Information

• Strong rental demand due to population growth and shortage of affordable housing.

• Diverse neighborhoods offer unique investment opportunities.

• Median rent of $1,575 makes it attractive for tenants and investors.

• Expertise in Bronx multifamily financing available through Select Commercial.

The Bronx Apartment Rental Data

The median rent in the Bronx is $1,575. The average rent for a studio apartment has increased by 15% to $1,238, while the average rents for 1-bedroom and 2-bedroom apartments have remained flat.


Brooklyn Multifamily Loan Investor Information

• Population boom and lack of affordable housing lead to strong demand for rental units.

• Myriad of neighborhoods offer diverse investment opportunities.

• Average rent for a 1-bedroom apartment is $3,724, creating a lucrative market.

• Customized multifamily loan options available through Select Commercial.

Brooklyn Apartment Rental Data

The average rent for a 1-bedroom apartment in Brooklyn is $3,724, for a studio apartment it's $3,515, and for a 2-bedroom apartment, it's $4,100.


Buffalo, NY Multifamily Loan Investor Information

• Buffalo, a city known for its rich history, diverse culture, and the famous Buffalo wings, offers a stable rental market.

• The median rent for a 1-bedroom apartment is $1,075, making it an appealing choice for both tenants and investors.

• Select Commercial is a reliable source for multifamily loans in Buffalo, NY.

Buffalo, NY Apartment Rental Data

The average rent for a 1-bedroom apartment in Buffalo, NY is $1,075 as of July 2023, a 2% decrease compared to the previous year. This stability in the rental market presents a unique investment opportunity in Buffalo, NY.


Freeport Multifamily Loan Investor Information

• Strong rental demand due to population growth and shortage of affordable housing.

• Diverse neighborhoods offer unique investment opportunities.

• Median rent of $1,818 makes it attractive for tenants and investors.

• Expertise in Freeport multifamily financing available through Select Commercial.

Freeport Apartment Rental Data

The average rent for a 1-bedroom apartment in Freeport is $1,300, and for a 2-bedroom apartment, it's $2,650.


Hempstead Multifamily Loan Investor Information

• High demand for rental properties due to population growth and lack of affordable housing.

• Various neighborhoods provide unique investment opportunities.

• Average rent of $1,300 for a 1-bedroom apartment and $2,650 for a 2-bedroom apartment.

• Expertise in Hempstead multifamily financing available through Select Commercial.

Hempstead Apartment Rental Data

The average rent for a 1-bedroom apartment in Hempstead is $1,300, and for a 2-bedroom apartment, it's $2,650.


Huntington Multifamily Loan Investor Information

• Population expansion and a lack of affordable housing has led to a strong demand for rental units.

• Varied neighborhoods each with its own unique character and investment potential.

• Average rent for a 1-bedroom apartment is $2,400, making it a profitable market for both renters and investors.

• Expertise in Huntington multifamily financing available through Select Commercial.

Huntington Apartment Rental Data

The average rent for a 1-bedroom apartment in Huntington is $2,400, and for a 2-bedroom apartment, it's $3,700.


Long Island Multifamily Loan Investor Information

• Population growth and a shortage of affordable housing lead to a strong demand for rental units.

• Varied neighborhoods cater to a wide array of tenant needs.

• Expertise in Long Island multifamily financing available through Select Commercial.

Long Island Apartment Rental Data

Unfortunately, specific rental data for Long Island is not available at this time.


Manhattan Multifamily Loan Investor Information

• High rental demand due to population growth and a shortage of affordable housing.

• Diverse neighborhoods offer a wide range of investment opportunities.

• Average rent of $4,614 makes it attractive for tenants and investors.

• Expertise in Manhattan multifamily financing available through Select Commercial.

Manhattan Apartment Rental Data

The average rent in Manhattan is $4,614. The average rent for a studio apartment, 1-bedroom, and 2-bedroom apartments varies greatly depending on the neighborhood.


Mount Vernon Multifamily Loan Investor Information

• Strong rental demand due to population growth and shortage of affordable housing.

• Diverse neighborhoods offer unique investment opportunities.

• Median rent of $1,850 for a 1-bedroom apartment and $2,250 for a 2-bedroom apartment.

• Expertise in Mount Vernon multifamily financing available through Select Commercial.

Mount Vernon Apartment Rental Data

The median rent in Mount Vernon is $1,850 for a 1-bedroom apartment and $2,250 for a 2-bedroom apartment. Investors can capitalize on the steady rental demand and explore various investment strategies in this vibrant multifamily market.


Nassau County Multifamily Loan Investor Information

• High demand for rental properties due to a growing population.

• Multiple neighborhoods provide a variety of investment opportunities.

• Median rent of $3,552 is appealing to both tenants and investors.

• Specialized knowledge in Nassau County multifamily financing is available through Select Commercial.

Nassau County Apartment Rental Data

The median rent in Nassau County is $3,552. The average rent for a studio apartment is $2,515, while the average rents for 2-bedroom apartments is $4,642.


New Rochelle Multifamily Loan Investor Information

• High rental demand due to population growth and shortage of affordable housing.

• Diverse neighborhoods offer unique investment opportunities.

• Median rent of $2,200 makes it attractive for tenants and investors.

• Expertise in New Rochelle multifamily financing available through Select Commercial.

New Rochelle Apartment Rental Data

The median rent in New Rochelle is $2,200. The average rent for a studio apartment is $1,600, for a 1-bedroom apartment is $2,200, and for a 2-bedroom apartment is $2,800.


NYC Multifamily Loan and Its Impact on the Rental Market Amid Inflation

NYC Apartment Building Stats NYC Supply & Demand

As we step into 2023, the multifamily sector in New York City (NYC) remains robust, despite the looming inflation and its potential impact on local policies and investment decisions. The NYC multifamily loan programs have played a significant role in maintaining this strength, even as the rental market begins to show signs of slackening.


The availability rate in the NYC multifamily sector was a mere 1.9 percent last year, a figure just slightly above the lowest in two decades. However, this year, the vacancy rate is projected to increase due to a decrease in household formation. Despite this, the rise is expected to be mitigated by the continuous growth of the city's workforce. As more employees return to their offices in Manhattan and Brooklyn, and domestic tourism recovers fully, the recruitment in the leisure and hospitality sector is expected to surge. This, in turn, will help maintain the tight conditions among Class C apartments.


In October 2022, the city's Rent Guidelines Board allowed rent-stabilized apartments to increase rates by 3.25 and 5.00 percent for one- and two-year leases, respectively. This move was partly in response to the rising energy and labor costs, which have led to increased operating expenses across the multifamily sector. However, the maintenance costs are growing at a rate that exceeds these rent guidelines, which could potentially affect the quality of these properties in the long run.


The rising operating costs are influencing the choices of buyers. Despite the strong fundamentals of NYC's multifamily sector, the increasing capital costs have led to a steady transaction velocity, similar to that of 2021. Some buyers, due to rising management expenses, are shifting away from rent-stabilized stock. Sales of less vintage mid-tier assets were more prominent in 2022 than in the previous year. If inflation continues to surpass the updated rent guidelines, buyers might move their capital to assets where the monthly rents can be dictated by market conditions. Investors who are well-versed with the market are likely to spot opportunities amid the current flux faster. Local buyers have been accounting for a higher proportion of recent sales activity by dollar volume, compared to historic norms.


The NYC multifamily loan programs have been instrumental in supporting the multifamily sector. These programs offer low- and no-interest loans for affordable multifamily buildings, which can cover the cost of an Integrated Predevelopment Lending program. In addition, the city provides loans using City Capital and/or Federal HOME funds at 1% interest, which is in addition to construction and permanent financing sources. These initiatives have been crucial in maintaining the strength of the multifamily sector amid the changing economic landscape.


In conclusion, the NYC multifamily loan programs, coupled with the city's strong fundamentals, have helped the multifamily sector remain resilient. However, the rising inflation and operating costs pose challenges that need to be addressed to ensure the long-term sustainability of this sector.


NYC Apartment Building Stats NYC Rate Trends

2023 New York Multifamily Market Forecast

Employment is up 0.9%. In 2023, New York companies will add 40,000 new jobs.


New construction will add 19,000 apartment units. Developers increase the apartment stock by 0.9%. New additions will drop below the 20,000 level for only the second time in the last six years.


Vacancy rate is up 40 basis points. The low 2.3% vacancy rate remains well below the historical average for the market. Most of the vacancy will be in luxury Class A apartments.


Apartment rents are up 2.4%. Low vacancy will continue to boost rents in 2023 with the average monthly rent hitting $2,950.


Poughkeepsie Multifamily Loan Investor Information

• Strong rental demand due to population growth and shortage of affordable housing.

• Diverse neighborhoods offer unique investment opportunities.

• Median rent of $1,400 makes it attractive for tenants and investors.

• Expertise in Poughkeepsie multifamily financing available through Select Commercial.

Poughkeepsie Apartment Rental Data

The median rent in Poughkeepsie is $1,400. The average rent for a studio apartment is $1,100, for a 1-bedroom apartment is $1,300, and for a 2-bedroom apartment is $1,500.


Queens Multifamily Loan Investor Information

• Queens is a diverse borough with a growing population, creating a strong demand for rental properties.

• With a variety of neighborhoods, Queens offers unique investment opportunities in multifamily properties.

• The median rent in Queens is attractive for both tenants and investors, contributing to a robust rental market.

• Select Commercial offers expertise in Queens multifamily financing, helping investors make the most of their real estate investments.

Queens Apartment Rental Data

The average rent in Queens is $3,043 for a studio, $3,213 for a 1-bedroom apartment, and $3,685 for a 2-bedroom apartment. This data indicates a strong rental market in Queens, making it an attractive location for multifamily property investments.


Rochester Multifamily Loan Investor Information

• Strong rental demand due to population growth and a shortage of affordable housing.

• Diverse neighborhoods offer unique investment opportunities.

• Average rent for a 1-bedroom apartment is $1,005, and for a 2-bedroom apartment is $1,307, making it a profitable market for both renters and investors.

• Expertise in Rochester multifamily financing available through Select Commercial.

Rochester Apartment Rental Data

The average rent for a 1-bedroom apartment in Rochester is $1,005, and for a 2-bedroom apartment, it's $1,307. Rent growth in the past month was +1.3%, and the year-over-year growth is +1.9%.


Rockland County Multifamily Loan Investor Information

• Population growth and a shortage of affordable housing contribute to a high demand for rental properties in Rockland County.

• The county's diverse neighborhoods offer unique investment opportunities.

• Expertise in Rockland County multifamily financing is available through Select Commercial.

Rockland County Apartment Rental Data

As of now, specific rental data for Rockland County is not available. However, the general trend in the New York area suggests a strong rental market.


Staten Island Multifamily Loan Investor Information

• Staten Island is the least populated of the five boroughs, providing a suburban feel with the benefits of city living.

• The area is known for its diverse neighborhoods and rich history, making it a unique investment opportunity.

• Staten Island's multifamily market is growing, with new developments and renovations of existing properties.

• Expertise in Staten Island multifamily financing available through Select Commercial.

Staten Island Apartment Rental Data

Unfortunately, specific rental data for Staten Island is not available. However, it's important to note that rental prices can vary significantly across the island, depending on the neighborhood and the type of property.


Suffolk County Multifamily Loan Investor Information

• High demand for rental properties due to a growing population.

• Offers a variety of neighborhoods, each with its unique investment opportunities.

• Median rent in Suffolk County is competitive, attracting both tenants and investors.

• Expertise in Suffolk County multifamily financing available through Select Commercial.

Suffolk County Apartment Rental Data

The median rent in Suffolk County varies depending on the area. The rental market is dynamic, with rent prices fluctuating based on supply and demand. For the most accurate rental data, it is recommended to check real estate websites or contact a local real estate agent.


Syracuse Multifamily Loan Investor Information

• High demand for rental properties due to the presence of Syracuse University and several large employers.

• Various neighborhoods offering different types of investment opportunities.

• Median rent of $1,910 for a 1-bedroom apartment, appealing to both tenants and investors.

• Expertise in Syracuse multifamily financing available through Select Commercial.

Syracuse Apartment Rental Data

The average rent in Syracuse is $1,579 for a studio, $1,910 for a 1-bedroom apartment, $2,089 for a 2-bedroom apartment, and $1,283 for a 3-bedroom apartment.


Valley Stream Multifamily Loan Investor Information

• Strong rental demand due to population growth and shortage of affordable housing.

• Diverse neighborhoods offer unique investment opportunities.

• Median rent of $1,300 makes it attractive for tenants and investors.

• Expertise in Valley Stream multifamily financing available through Select Commercial.

Valley Stream Apartment Rental Data

The median rent in Valley Stream is $1,300. The average rent for a studio apartment is not available, for a 1-bedroom apartment is $1,300, and for a 2-bedroom apartment is $1,650.


Westchester County Multifamily Loan Investor Information

• Westchester County is a popular location for multifamily properties due to its proximity to New York City.

• The county has a diverse range of neighborhoods, providing a variety of investment opportunities.

• With a median rent of $2,872 for a 1-bedroom apartment, the rental market is robust and attractive for both tenants and investors.

• Select Commercial has expertise in Westchester County multifamily financing.

Westchester County Apartment Rental Data

The average rent in Westchester County is $2,277 for a studio, $2,872 for a 1-bedroom apartment, and $3,876 for a 2-bedroom apartment.


White Plains Multifamily Loan Helpful Information

• Strong rental demand due to population growth and shortage of affordable housing.

• Diverse neighborhoods offer unique investment opportunities.

• Median rent for a studio apartment is $2,670, for a 1-bedroom apartment is $2,915, and for a 2-bedroom apartment is $4,375.

• Expertise in White Plains multifamily financing available through Select Commercial.

White Plains Apartment Rental Data

The median rent in White Plains for a studio apartment is $2,670, for a 1-bedroom apartment is $2,915, and for a 2-bedroom apartment is $4,375.

Yonkers Multifamily Loan Helpful Information

• Strong rental demand due to population growth and shortage of affordable housing.

• Diverse neighborhoods offer unique investment opportunities.

• Median rent of $2,134 for a studio, $2,485 for a 1-bedroom apartment, and $3,214 for a 2-bedroom apartment makes it attractive for tenants and investors.

• Expertise in Yonkers multifamily financing available through Select Commercial.

Yonkers Apartment Rental Data

The median rent in Yonkers is $2,134 for a studio, $2,485 for a 1-bedroom apartment, and $3,214 for a 2-bedroom apartment. The rental market in Yonkers offers a variety of options for tenants, with apartments available in different sizes and price ranges.

Overall, we expect the rise in borrowing costs to continue putting pressure on people to rent for longer periods. This supports the case that there will be strong demand for apartment building loans in 2023.

New York Apartment Building Financing