New York · Mixed-Use
New York mixed-use financing.
We do not fund mixed-use in-house. A building with storefront or office space is placed through our capital-partner network and reviewed case by case. What we fund directly in New York is fully residential investment property, one to nine units, $1M to $5M.
By David Hodara · ·
No
Funded in-house
Partner network
Route
1-9 units
In-house box
$1M-$5M
In-house range
New York mixed-use market context
Our in-house box is fully residential: houses, 2-4 units, condos, townhomes, buildings up to nine units and rental portfolios. A storefront takes a building out of that box, so mixed-use goes through our capital-partner network on the partner's terms.
If you are buying or renovating a fully residential building in New York, the page below describes what we fund directly.
What we fund directly in New York
Each deal gets routed to the product structure that fits. Most mixed-use deals in New York use one of the following.
New York small multifamily (5-9 units)
Fully residential buildings of five to nine units: bridge, renovation, ground-up, DSCR exit.
Fix and flip loans
Purchase plus rehab in one loan for a resale exit, up to 90% of total cost, with the rehab budget released in draws against completed work.
Bridge loans
Purchase, refinance or cash-out on residential investment property, interest-only, up to 80% LTV. Underwritten on the property and the exit rather than on tax returns.
New York mixed-use FAQ
Does Passy Capital fund mixed-use property in New York?
Not in-house. Mixed-use deals are placed through our capital-partner network and reviewed case by case.
What about converting a brownstone to all-residential?
A building that becomes fully residential, up to nine units, can be an in-house renovation file. Send the plan and the target unit count.
Can a foreign national finance mixed-use in New York?
Not in-house. Mixed-Use deals in New York are placed through our capital-partner network, on the partner's terms. What we fund directly for non-US investors is residential investment property, one to nine units, $1M to $5M, lent to a US LLC on the same terms a US investor receives, with no US credit history required.
Other New York asset classes
Got a New York mixed-use deal? Send it over.
Term sheet inside 48 hours, or a fast no so you can move on. Business-purpose investment property financing only.