New York
New York Hard Money Loans for Real Estate Investors
Short-term financing for fix-and-flip, acquisition + rehab and construction projects across New York City, Long Island and Westchester County.
Where we lend in NY
We finance investment property across New York City, Long Island and Westchester. Deals are handled directly with Youssef by phone and email.New York City
Brooklyn, Queens, the Bronx, Staten Island and Manhattan. Much of the investor activity outside Manhattan is in one-to-four family houses and small multifamily buildings.
Long Island
Nassau and Suffolk Counties, where single-family renovation and resale is the most common investor strategy.
Westchester County
Single-family and small multifamily in the county's cities and suburbs, including Yonkers, Mount Vernon, New Rochelle and White Plains.
What New York investors should know before they buy
Closings are attorney-driven
In New York, buyers and sellers are typically each represented by an attorney, who negotiates the contract and coordinates the closing with the title company. Engage an attorney who handles investor purchases early, because contract terms and timing affect your financing.
Mortgage recording tax is a real closing cost
New York charges a mortgage recording tax when a mortgage is recorded, and rates are higher in New York City than in most other counties. On a financed purchase this can be one of the larger closing costs, so have your attorney or title company quote it before you finalize your budget.
Rent-regulated units change the math
In New York City, many older multifamily buildings contain rent-stabilized units. Since the 2019 rent laws, the amount of renovation cost an owner can recover through rent increases is limited. Before buying a multifamily property to renovate, confirm each unit's regulatory status and rent history.
Co-ops are generally not collateral
A co-op apartment is ownership of shares in a corporation, not real property, so co-ops generally fall outside hard money programs secured by real estate. Condominiums and fee-simple houses are the usual collateral.
Permits run through the city or town
In NYC, construction and many renovations require Department of Buildings filings. On Long Island and in Westchester, permits run through the town, village or city building department. Build permit time into your schedule and interest budget.
What Wisdom Capital finances in New York
1–14 unit residential investment property, with loans from $100,000 to $3,000,000, closed in the name of an LLC or corporation. Fix-and-flip loans cover 1–4 unit properties at up to 90% of purchase price and 100% of hard costs, capped at 70% of ARV, at 10.99% for qualified investors.
Financing available in New York
- Fix & flip loans for one-to-four family renovation and resale
- Acquisition + rehab loans for value-add purchases you may sell or hold
- Construction loans for ground-up and major redevelopment
- First-time investor financing for a first NY project
New York hard money FAQ
Who offers hard money loans in New York?
New York has many private and hard money lenders. Wisdom Capital is a direct lender that finances investment property in New York City, Long Island and Westchester. Youssef Bauer is an Account Executive there and works with investors, brokers and attorneys on those deals.
Do you lend upstate or in the Hudson Valley?
The New York focus is New York City, Long Island and Westchester County. For other areas, ask before you submit.
Can I finance a flip in the outer boroughs?
Yes. One-to-four family renovation projects in Brooklyn, Queens, the Bronx and Staten Island are typical fix-and-flip deals. Send the address, price, scope and ARV for review.
How long does a New York closing take?
Timing depends mostly on the contract, title and attorney schedules, since New York closings are attorney-driven. On the lender side, Wisdom Capital uses a $495 desktop appraisal with no property access needed, which removes a common source of delay.
Next step
Have a Deal in Mind?
Submit the property details and let’s review the financing structure.
Helpful to include
- Property address and property type
- Purchase price and target closing date
- Renovation budget or scope of work
- Estimated after-repair value (ARV) and comps
- Your recent project experience, if any