NY Commercial Real Estate Financing: Finding The Right Lender
Anyone who has spent time in the NY commercial real estate market understands how difficult it can be to find adequate financing. Most traditional lending institutions do not understand the different types of commercial real estate properties in New York, nor to they provide solutions tailored to NY commercial real estate projects. However, there are a few things every local commercial real estate investor and property developer can do to make the search for financing easier.
Interview NY Commercial Real Estate Financing Professionals
Most NY commercial real estate financing professionals are going to ask you questions, and there’s no reason why you can’t ask them, as well. Ask what types of transactions they are used to handling. Find out if they offer different types of financing tailored to the project you have on deck, or if they just have a standard loan program. Remember, New York City commercial real estate financing professionals are supposed to understand the local market and work for you, not the other way around.
New York Lenders Should Listen To Your Needs
Throughout this city, no two commercial real estate transactions are the same. Yes, they may fall under the same type of undertaking, but every renovation, construction project, and property flip is unique. As such, every project has unique requirements regarding NYC commercial real estate financing. The easier projects simply need loans for purchases. Some properties require conventional loans, combined with bridge loans to cover the more immediate expenses such as zoning permits. Of course, larger projects may need construction financing to ensure there is working capital at every stage, or CMBS loans to offer flexibility and savings on acquisitions. Finding a lender who will take the extra steps to understand your needs, and then match your project with the correct financing programs, and then tailor the solution on top it, is what you should be looking for in a commercial real estate financing professional. You want a funding partner who has the experience and depth of knowledge about both the financial realm and NY commercial real estate markets to provide the solutions you need to be successful.
The Most Versatile NY Commercial Real Estate Financing Programs
Express Capital Financing offers a wide range of funding programs for commercial real estate throughout New York City. From first-time transactions to large ground-up projects, we provide solutions tailored to the needs of our clients. Contact our offices today at 718-285-0806 to learn more.