| Sector | Building type | Initial Loan Balance($) | Term | Interest rate‡ | Closing fee |
|---|---|---|---|---|---|
| Market rate | Multifamily1 | >150k | <5 years 5-10 years |
6.50% - 7.75% 6.75% - 8.00% |
Greater of $2,500 and 1.00% |
| Commercial & Industrial |
>200k >50k |
<5 years 5-10 years |
6.75%-7.75% 7.25%-8.25% |
Greater of $2,500 and 1.00% |
| Sector | Building type | Initial Loan Balance($) | Term | Interest rate‡ (2) | Closing fee |
|---|---|---|---|---|---|
| Market rate | Multifamily1 | >200k | 7-15 years | 7.00%-8.25% | 1.00%-2.00% (MIN. $3,500) |
| commercial & industrial | >250k | 7-15 years | 7.75-8.75% | 1.00%-2.00% (MIN. $3,500) |
| Sector | Building type | Initial Loan Balance($) | Term | Interest rate‡ | Closing fee |
|---|---|---|---|---|---|
| Market rate | Multifamily | >300k | 1-3 years | 7.00-8.00% | 1.00%-2.00% (MIN. $3,500) |
(1) Affordable Multifamily projects may be eligible for lower rates. "Affordable Multifamily" is defined as condos, co-ops and rental buildings with demonstrable benefit to affordable tenants. Please call NYCEEC for details.
(2) Associated construction loans will be priced at a 0.5%-1.0% premium to the applicable interest rate
* For mixed-use multifamily and commercial buildings, the rates for primary/majority use will typically be used, but assessment will be on a case-by-case basis
** Construction monitoring and other lender expenses may be billed back to borrower for large transactions
‡ All interest rates shown in the NYCEEC Pricing Matrix are indicative as of June 3, 2019 and are subject to change. A borrower's actual rate may differ depending on the approved loan amount, loan term, the borrower's credit history and creditworthiness, and other factors.
All loans are subject to credit approval. Additional fees and costs may apply.
