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Multifamily Loans in New York

Overview

4,610,088 (or 23.70%) of the 19,453,561 population of New York live in 5+ unit apartment properties. New York has approximately 2,288,464 multifamily units. Last year, 26,367 new apartment units were constructed in New York, representing a 1.17% growth in units. Multifamily units make up 29.58% of the total housing stock in New York.

Interest rates for multifamily loans in New York are very competitive. New York apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in New York.

Get multifamily loan quotes for Mar 02, 2024


Multifamily Loan Rates in New York

SoftQuotes' lender rates for 5+ unit multifamily loans in New York are:

Loan Amount
$1M to $6M
5 Year Fixed 6.32% - 6.92%
7 Year Fixed 6.43% - 6.68%
10 Year Fixed 6.39% - 6.72%
Loan Amount
$6M to $100M
5 Year Fixed 5.44% - 5.99%
7 Year Fixed 5.49% - 6.04%
10 Year Fixed 5.47% - 6.02%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. This is not an offer or commitment to lend. Rates updated on 03/01/2024.

Get multifamily loan quotes for Mar 02, 2024


New York Rents

The state of New York has rent control.

Bedrooms
Low1
High2
Average2
Studio $542 $1,940 $909
1 bedroom $597 $1,985 $990
2 bedroom $757 $2,263 $1,202
3 bedroom $980 $2,864 $1,537
4 bedroom $1,067 $3,116 $1,692
1 County median 2 Average of counties
Source: Federal Housing Finance Agency

New York Multifamily Loans by City