Commercial Mortgages

Get the financing you need to close your major deal.

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Financing in New York City, Westchester County, Long Island, New Jersey and Rockland County
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, or retail 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 will consider participations with strong lead banks to meet your needs.

Here are the details on our Commercial Mortgages:

  • Property Types and Lending Area: Most types of income-producing properties, including multi-family, office, and retail in New York City, Westchester County, Long Island, New Jersey, and Rockland County.
  • Loan Size: Minimum $3,000,000; 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 Treasury or swap rates or SOFR or Prime Rate. 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. 
  • Lines of Credit: Unsecured lines of credit are available for cooperative corporations in conjunction with an Apple Bank first mortgage.
  • Second Mortgages and Mezzanine Loans: Subordinate mortgages and mezzanine loans may be provided if Apple Bank holds the first mortgage.

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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