Construction Loans in New York City, NY
Find lenders offering construction loans in the New York City, including Brooklyn, Manhattan, Queens, and surrounding areas. Compare rates, terms, and programs from 14 lenders.
Which Construction lenders serve New York City?
14 lenders offering construction loans in the New York City, NY area.
JPMorgan Chase
LocalNew York, NY
Major CMBS originator and commercial lender. Full range of CRE financing including conduit, agency, and balance sheet.
ConnectOne Bank
SBAENGLEWOOD CLIFFS, NJ
New Jersey-based commercial bank offering SBA 7(a) loans, commercial real estate, construction lending, and business banking. Serves entrepreneurs and businesses in the New York-New Jersey metro area.
Bank of America
Charlotte, NC
One of the largest US banks. Commercial real estate lending, construction financing, and SBA loans through nationwide branch network.
Broadmark Realty Capital
Seattle, WA
Private real estate lender offering bridge, construction, and land loans. Now part of Ready Capital. Loans from $500K to $25M+.
CoreVest Finance
Irvine, CA
Rental portfolio and bridge lender for residential real estate investors. Build-to-rent and portfolio financing specialist. Redwood Trust subsidiary.
KeyBank Real Estate Capital
Cleveland, OH
Major bank CRE lender. Balance sheet, agency, and CMBS lending for multifamily, office, retail, and industrial properties.
Lima One Capital
Greenville, SC
Private lender for real estate investors. DSCR loans require 1.5+ ratio, min FICO 700. 5, 10, and 30-year options. Up to 75% LTV on purchases.
Merchants Capital
Indianapolis, IN
Bank-backed commercial lender active in 47 states. Over $6.8B in financing. Specializes in multifamily, affordable housing, and healthcare.
New Silver Lending
FL
Direct lender for real estate investors. DSCR loans with no minimum DSCR requirement. Also offers fix-and-flip, bridge, and construction loans.
PNC Real Estate
Pittsburgh, PA
Top-10 US bank with dedicated commercial real estate lending. Construction, bridge, and permanent financing for major property types.
Stbridge Capital
Los Angeles, CA
Private money lender in California. Bridge, fix-and-flip, and ground-up construction loans. Fast closings for experienced investors.
US Bank
Minneapolis, MN
Fifth-largest US bank. CRE lending including construction, permanent, and SBA loans. Strong in multifamily and affordable housing.
Vaster
Miami, FL
Commercial bridge loan lender for CRE investors. Flexible short-term financing for acquisition, rehab, and construction.
Wells Fargo
San Francisco, CA
Top commercial real estate lender. CMBS, balance sheet, agency, and SBA lending across all property types.
What does the New York City commercial real estate market look like?
New York City is the largest and most liquid commercial real estate market in the Western Hemisphere, with Manhattan alone containing approximately 450 million square feet of office space across distinct submarkets including Midtown, Midtown South, and Lower Manhattan. The Hudson Yards development on Manhattan's far west side represents the largest private real estate development in U.S. history and has reshaped the Midtown West office landscape, while the Brooklyn waterfront in DUMBO and Williamsburg has matured into a legitimate alternative office market for technology and creative firms. The outer boroughs, particularly industrial zones in the Bronx, Queens, and Brooklyn, have seen intense competition for last-mile logistics space driven by e-commerce growth. The city's post-pandemic office market has experienced a bifurcation between trophy-class towers with strong occupancy and older Class B and C buildings facing elevated vacancy and conversion pressure.
Key Economic Drivers
- ●Global financial services firms including JPMorgan Chase, Goldman Sachs, and Citigroup anchoring Midtown office demand
- ●Technology sector expansion from Google, Amazon, and Meta across Manhattan and Brooklyn submarkets
- ●Hudson Yards, Manhattan West, and One Vanderbilt representing generational trophy office development
- ●Last-mile logistics demand from e-commerce driving industrial absorption in outer-borough markets
Market Insight
New York City's office-to-residential conversion program, expanded under recent zoning text amendments, has identified over 130 million square feet of office space eligible for conversion, creating a significant adaptive reuse pipeline that could reshape older commercial corridors in Midtown and the Financial District.
How do construction loans work in New York City, New York?
Commercial construction loans fund new development or major rehabilitation projects. Funds are disbursed in stages as construction progresses. Most are short-term (12-36 months) and convert to permanent financing upon completion. In the New York City metro area, borrowers can access 14 lenders offering Construction financing, including Brooklyn, Manhattan, Queens, and surrounding areas. Loan amounts typically range from $500K to $100M with rates from 7% - 10%.
Who should consider construction loans?
- Ground-up development
- Major renovations
- Land + construction
- Build-to-suit projects
What are the key requirements?
- Detailed construction plans and budget
- Licensed general contractor
- Building permits
- Development experience (strongly preferred)
- 20-35% equity
Advantages
- ✓Interest only on drawn funds
- ✓Funds disbursed as needed
- ✓Can include land acquisition
- ✓Construction-to-permanent options available
Considerations
- •Requires detailed plans and budgets
- •Draw schedule inspections
- •Higher rates during construction
- •Completion risk on borrower
Construction Loans in New York City FAQ
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