Commercial Mortgages

Get the financing you need to close your major deal.

Financing in New York City, Westchester County and Long Island
Most types of income-producing properties qualify
 
Borrow between $1 million and $100 million
 
Highly competitive pricing for low-leverage transactions
 
Reliable funding and easy execution

Your go-to source for New York commercial mortgages.

Are you targeting a multi-family, office, retail or hotel property to add to your real estate portfolio? Apple Bank is a conservative but active lender for its own portfolio. We can structure a deal to fit almost any borrower’s needs for completed, cash-flowing, multi-tenant assets. We offer some of the most competitive pricing in the New York marketplace for low leverage transactions and are well known for our reliability and ease of execution. Apple Bank does not lead construction loans, but we willl consider participations with strong lead banks to meet your needs.
 

Here are the details on our Commercial Mortgages:

  • Property Types: Most types of income-producing properties, including multi-family, office, retail and hotels in New York City and Westchester County, and on Long Island.
  • Loan Size: Minimum $1,000,000; maximum $100,000,000. Larger loans will be considered subject to participation.
  • Maturities: 1 to 10 years or 15-year self-liquidating.
  • Pricing: Indexed over swap rates or LIBOR. Fixed rates can be established at application, commitment or closing.
  • Amortization: Interest-only for LTVs of 50% or less. 30 years over 50% LTV.
  • Deposits and Fees: Par to 1% application/commitment fee.
  • DSC/LTV: Minimum 1.25x DSC; maximum 75% LTV.
  • Appraisal, Engineering, Environmental Reports: Required. Ordered by Apple Bank at borrower's expense.
  • Escrows and Deposits: Real estate tax and tenant security deposits.
  • Prepayment Conditions: Flexible sliding scale and/or swap breakage on fixed-rate deals. Two-year lockout followed by a 1% exit fee on LIBOR loans.
  • Lines of Credit: Unsecured lines available for cooperative and condominium corporations. Second mortgages and mezzanine loans will also be considered.

Terms noted above are general parameters and may change from time to time. Terms will vary depending upon the merits of each individual transaction.
 

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