Bridge, Flip & Construction
Loans in New York

Passy Capital finances investors who buy, renovate and build residential investment property in New York: single-family houses, 2-4 unit buildings, townhouses, financeable condo units, and small apartment buildings up to 9 units. Bridge, fix & flip and ground-up construction loans come first, then renovation, with DSCR as the hold once the property is leased. Loans run from $1M to $5M, with a term sheet in 24 to 48 hours and closing in about two weeks on a clean file.

In New York City we finance 1-4 unit buildings, brownstones and small apartment buildings in Brooklyn, Queens, the Bronx, Staten Island and Manhattan, bought to renovate and either resell or rent. Outside the city we finance the same residential product in Westchester, Long Island and upstate. Bridge loans go up to 80% LTV, fix & flip and renovation up to 90% of cost, construction up to 85% of cost, and DSCR up to 80% LTV.

Investors based outside the United States borrow on the same terms, through a US LLC, with no US credit history required. All lending is business-purpose, on non-owner-occupied property. The fee is 1-2% of the loan, paid at closing, with no upfront fees. Larger New York deals outside our residential box are placed through our capital-partner network.