Apartment financing in New York City

New York City: In the Spotlight

New York City, New York is located 152 miles south of Albany and is part of the New York-Newark-Jersey City, NY-NJ-PA Metropolitan Statistical Area. The population of New York City is just over 8.1 million, making it the most populous city in the State, as well as the in the entire country. It also covers about 302 land miles. The area is home to the world famous Statue of liberty and was the very first capital of the United States.

  • The unemployment rate is a bit high, but dropping, around 8.9%.
  • The median household income is $63,998.
  • The median age in New York City is 36 years old
  • New York City employs over 4.3 million residents

New York City Apartment Loan and Multifamily Property Facts

New York City is part of the New York market, which has seen some growth after recovering from 2020. Although unemployment is still high and people are still uncertain, the multifamily market is starting to pick up steam. Vacancy rates and new deals are helping spur the market.

  • New York City has a low vacancy of less than 3.4% across all rental properties
  • There has been a marginal rent increase, to $1,482 per month
  • The homeownership rate is roughly 32%, which leaves around 68% of residents looking for rental properties.

Although 2020 was a difficult time in New York city, just as it was everywhere, the city is on the rebound and the market is looking good. With new developments and promising sales on the record, now is a good time to consider an apartment loan in the city.

New York City Apartment Loan and Lending Options

In New York City there are several different ways that you can finance your new apartment investment. We work with opportunities like:

Finance Your New York City Apartment Building Now

At Apartment.loans, we can help with all kinds of loans for apartments and commercial real estate in the city of New York city, NY. We work with value-add opportunities, ground-up developments, stabilized properties, and more. We know what it takes to get financed and find the best rates and we can help you get what you need.

The market in New York city is growing by the day and we can help you find the financing that you need before the competition gets too fierce. Whether you are financing your first deal or just looking for your next one, we’ve got you covered.

When you’re ready to talk more or get started on your investment, contact our New York city Apartment Lending Specialists today at [email protected] or by calling (800) 567-9631.