New York · Retail
New York retail financing.
We do not fund retail property in-house. New York retail deals are placed through our capital-partner network and reviewed case by case. What we fund directly in New York is 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 retail market context
Our in-house lending is residential: bridge, fix and flip, ground-up construction, renovation and DSCR on houses, 2-4 units, condos, townhomes, small buildings up to nine units and rental portfolios. Retail sits outside that box, so we place it through our capital-partner network on the partner's terms.
If you are buying or renovating residential property 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 retail 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 retail FAQ
Does Passy Capital fund retail property in New York?
Not in-house. Retail deals are placed through our capital-partner network and reviewed case by case.
Can a foreign national finance retail in New York?
Not in-house. Retail 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 retail deal? Send it over.
Term sheet inside 48 hours, or a fast no so you can move on. Business-purpose investment property financing only.