New York Commercial Mortgage Loans from $1,000,000+

New York Commercial Mortgage Rates - Rates updated 09-20-2019

Loan Product Rates (start as low as) LTV Amortization
Commercial Mortgage Rates 3.86% Up to 75% Up to 25 years
Multifamily Mortgage Rates 3.60% Up to 80% Up to 30 years
Business Real Estate Loans 3.76% Up to 90% Up to 30 years

Select Commercial is a leading commercial real estate lender. We have excellent commercial mortgage loan products and options available for owners and purchasers of commercial real estate and multifamily buildings throughout the state of New York. While we lend across the entire continental United States, 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 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 a commercial property. If you are looking to obtain an multifamily building loan or commercial real estate loan, don't hesitate to contact us. There are many reasons why our customers like doing business with Select Commercial. We have a simplified application process and we do not charge any upfront application or processing fees. We typically offer 24-hour pre-approvals with no-cost and no-obligation. Our long term fixed rates are excellent, and we look to close within 45 days of application. Our staff is professional and knowledgeable, and we look forward to working with you on your next commercial mortgage transaction.

Our Commercial Real Estate Loan Benefits

Rates start as low as 3.60% (as of 09-20-2019)
• No upfront application or processing fees
• Simplified application process
• Up to 80% LTV on multifamily , 75% on commercial (90% with SBA)
• Terms and amortizations up to 30 years
• Loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation

Commercial Mortgage Loan Options

We arrange financing in the state of New York for the following:

  • Multifamily Loans – we actively lend on garden apartments, high-rise multifamily buildings, student housing complexes, underlying cooperatives, and all other types of residential dwellings. We consider loan requests up to 80% LTV. We offer loans with and without recourse (personal guarantees) and with and without prepayment penalties. We offer fixed rate loans with terms from 3 to 30 years.
  • Office Building Loans – we lend on all types of office properties, including multi-tenant and single tenant buildings in all locations. We lend on both owner occupied and investor properties. We typically lend up to 75% LTV on investor properties and up to 90% on owner occupied properties. Most loans are written for either 5, 7, or 10 years at a fixed rate with a 25-year amortization.
  • Retail Building Loans – we gladly consider requests for commercial mortgage loans on shopping centers, retail strip centers, and individual retail stores. We are a little bit more conservative on retail loans these days based on the current climate for retailers and will consider LTV ratios of 65%-75% depending on the deal. We actively lend on NNN single tenant retail locations such as Starbuck’s, CVS, Walgreens, Dollar General, and other national credit rated tenants.
  • Industrial Property Loans – we love to lend on warehouses, distribution centers, manufacturing facilities and other industrial properties. Often, these properties are owner occupied by the owner’s business. We also lend on multi-tenant industrial properties as well. We look for properties in good locations with access to population centers and transportation.
  • Single/Special Use Loans – we have a special lending division that understands small business lending secured by owner occupied businesses such as motels, gas stations, restaurants, car washes, retail stores, and other specialty properties. Many banks have a hard time with this type of lending as they often do not understand the underlying businesses.
  • Investment Property Loans – any and all income producing property will be considered. We are cash flow driven lenders and look for properties that generate positive cash flow for their owners. We will consider portfolios of single family residences under this group.
  • Bridge Loans – many borrowers do not qualify for regular institutional financing due to various short-term obstacles which need to be resolved before they can qualify for bank type financing. These borrowers often require short term loans, or bridge loans, to overcome these short-term problems.

Our company has multiple capital sources for these loans, including: national banks, regional and local banks, Fannie Mae, Freddie Mac, FHA, HUD, insurance companies, Wall Street conduit lenders (CMBS deals), credit unions and private lenders/hedge funds. Whether you are purchasing or refinancing, we have the right solutions available. We will entertain loan requests of all sizes, beginning at $1,000,000. Click here to get started with a free loan quote.

New York Commercial Mortgage Information and Economic Overview

New York has the third largest economy in America with a gross state product of about $1.6 trillion. If New York were an independent nation, it would rank as one of the top 13 global economies. New York City and the surrounding metropolitan area dominate the economy of the state. Manhattan is the leading center of finance and banking in the country and is the location of the New York Stock Exchange. Many of the world's largest corporations locate their home offices in Manhattan. With over 500 million square feet of office space Manhattan is the largest office market in the United States. Here are some incredible statistics about New York’s economy:

  • New York makes up just 1% of the total US area but produces 8% of the nation's GDP.
  • New York City unemployment hit its lowest rate ever in 2018, at just 4%.
  • New York City's gross state product is expected to overtake Tokyo's by the year 2035.
  • Midtown Manhattan with nearly 400 million square feet is the central business district in the world.

With a growing population of over 8.6 million, New York City is one of the most active and lucrative commercial real estate and multifamily markets. Rental income is the most important factor when determining the success of commercial real estate investment. Fortunately for New York City investors, high rental income is a staple of the New York City commercial real estate and apartment market. Due to high rent, investing in New York City commercial real estate and apartment buildings is a very profitable investment in many different neighborhoods. The average rental income in the market is about $2,880, over $400 more than the state average. Furthermore, the appreciation of New York commercial real estate and apartment buildings is another benefit of investing in this market. Over the last ten years, properties in the New York housing market appreciated by over 32%, an average annual appreciation rate of over 2.8%.  This number places the New York City real estate market in the top 20 percent in the nation for appreciation.


There are various reasons why the New York City commercial real estate and apartment markets have been leaning towards a buyer’s market since the beginning of the year. The primary reason is the decrease in commercial real estate sales as sales have dropped by 2.5% from last year. As a consequence of this decline in sales, sellers have begun lowering prices by 10 to 15 percent. A decline in international buyers has also shifted the commercial real estate and apartment market dynamic in favor of the buyers.


Finally, one of the most important factors contributing to the dominance of the New York City commercial real estate market is the city’s high rental demand. This incredible demand is best demonstrated by its price-to-rent ratio of over 33. A price-to-rent ratio higher than 21 means that it is more affordable for a person to rent a property in that market than to purchase. In other words, renting in New York City is very desirable leading investors in commercial real estate and apartment buildings to make big returns on their money. The rental demand in New York City can also be seen in the percentage of residents who rent out properties. Over 65% of the New York City inhabitants live in rental properties. With such high demand, it isn’t difficult for a commercial real estate or multifamily investor to find tenants and make huge returns.

New York Commercial Mortgage Loans

Select Commercial provides commercial mortgage loans and multifamily financing throughout the state of New York including but not limited to the areas below.

BronxBrooklynBuffaloHuntingtonLong IslandManhattanNYCNassau • Queens • RochesterStaten IslandSuffolkWestchester PoughkeepsieRocklandYonkersNew RochelleMount VernonWhite PlainsHempstead Freeport Valley StreamLong Beach


Select Commercial is a nationwide commercial real estate lender providing financing throughout the United States including the states below.

AlabamaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington DCWest VirginiaWisconsinWyoming