Business Banking
Business Banking

Commercial Mortgage Products

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.

Property Types: Most types of income-producing properties, including multi family, office, retail and hotels.  Apple Bank does not lead construction loans, but will consider participations with strong lead banks.
Locations:     New York City, Westchester County and 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 the 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 lock-out followed by a 1% Exit Fee on LIBOR loans.
Lines of Credit: Unsecured lines are available for cooperative and condominium corporations.  Second mortgages and mezzanine loans will also be considered.

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


Contacts/Name and Title Phone Number Email
Robin Thomson, Senior Vice President 212-224-6456
Paul Marino, Vice President 212-224-6413
Cynthia Wang, Senior Vice President 212-224-6451
Lee Swedowsky, Vice President     212-224-6512
Commercial Mortgage Fax Number 212-224-6588  
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