New York City deals reward the buyer who can close with certainty: estate sales, referee auctions, homes with open permits and private loans coming due. A bridge loan gives you that speed, and a planned DSCR refinance gives you a way out.
In short: Our top pick for bridge loans in New York City is LendingStreet. We fund 1-8 unit investor purchases and payoffs from $150,000 to $5M+, with rates from 7.99%, closings in as little as 10 days and up to 90% of cost on some programs. When the property is leased, we refinance you into a 30-year DSCR loan that qualifies on rent. In the city, underwrite at legal rents, count only legal units, and budget for the mortgage recording tax on both loans.
LendingStreet is built for investors buying and repositioning 1-8 unit property in the five boroughs. Our bridge loans run from $150,000 to $5M+, with rates from 7.99%, interest-only payments and closings in as little as 10 days. Some programs fund up to 90% of cost and up to 100% of the rehab, and there is no appraisal on some bridge programs, though larger balances usually need a full valuation.
The difference is the exit. When the work is done and the units are leased, the same team can refinance you into a 30-year DSCR loan that qualifies on rent, with no W-2s or tax returns and LLC borrowers standard. To size a deal, get a quote with the form below or call (877) 298-1001.
Investors searching for bridge lenders often compare national names like CoreVest, Dominion Financial, Lima One and Roc Capital. Here is how LendingStreet stacks up on the scenarios that matter most for investors in New York City, NY. In every scenario below, LendingStreet is the best fit.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Bridge loan above $3M | LendingStreet | Our bridge program runs from $150,000 to $5M+. CoreVest states single-asset bridge loans from $75K to $2M+, and Roc Capital states stabilized bridge loans up to $3,000,000. |
| Bridge close in about 10 days | LendingStreet | We can close in as little as 10 days. CoreVest states its bridge loans typically close within 2 to 4 weeks. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
City investors usually choose among a local bank, a local hard money lender and private money. This is how they typically compare for short-term residential investor loans.
| What investors need | LendingStreet | Typical local bank | Typical hard money lender |
|---|---|---|---|
| Speed | Close in as little as 10 days | Often weeks, committee review | Often fast |
| Leverage | Up to 90% of cost, 100% of rehab on some programs | Often lower, with more cash in | Varies widely |
| Long-term refinance qualifying | On rent, no W-2s or tax returns | Usually tax returns and debt-to-income | Not offered |
| Exit to a 30-year rental loan | In-house DSCR refinance | Possible, with full income review | Usually none; you find a new lender |
| Loan size | $150,000 to $5M+ | Varies | Varies |
| LLC borrowers | Standard | Sometimes | Usually |
The 1-4 family stock is where most residential bridge deals happen: brownstones and limestones in Bed-Stuy, Crown Heights and Bushwick, attached two-families in Ridgewood, Richmond Hill and South Ozone Park, frame and brick three-families in Williamsbridge, Wakefield and Soundview, and detached homes on Staten Island's North Shore. Investors also buy 5-8 unit walk-ups and small mixed-use buildings with a storefront and apartments above.
Common reasons to use a bridge here include estate and probate sales that need a quick, certain close, homes with open permits or violations that a bank will not touch, buying before a 1031 replacement deadline, and paying off a private loan that is maturing. Buildings with 9+ units are commercial; see /commercial.html.
New York foreclosures go through the courts, and the sales are run by court-appointed referees. Terms of sale often call for a deposit at the auction and the balance within about 30 days, which is a window a bridge loan can fit if your file is ready before you bid. Read the terms of sale for each property.
For a BRRRR, the bridge covers the purchase and renovation, and the DSCR refinance replaces it once the units are leased. If a private or bank loan on a property you already own is coming due, a bridge can pay it off and buy time to finish work or lease up before the long-term refinance.
Buildings with six or more units built before 1974 are generally covered by rent stabilization. Since the 2019 state rent law, renovating a stabilized apartment no longer takes it out of stabilization, and the rehab cost that can be added to rent is strictly limited. Underwrite stabilized units at their legal regulated rents, and confirm status with the state housing agency.
The city requires owners to register most rental buildings with its housing department, including one- and two-family homes where the owner does not live. Legal unit count also matters: a basement unit that is not on the certificate of occupancy usually cannot be counted toward rent at refinance.
On the cost side, budget for the mortgage recording tax on each new loan, state and city transfer taxes on the purchase, and the state mansion tax on 1-3 family purchases of $1M or more. On a refinance, ask your attorney whether a consolidation agreement can reduce the recording tax. Confirm current rates and rules before you sign.
This example is illustrative and not a quote. An investor wins a dated three-family home in Williamsbridge for $780,000 with a $110,000 renovation plan. The bridge loan covers 85% of the price and 100% of the rehab, for $773,000, or about 87% of total cost. Fully drawn, the estimated interest-only payment is about $6,764 a month, so six months of carry runs about $40,582.
After the work, the home appraises at $1,050,000 and the three units lease for a combined $6,900 a month. A 75% LTV DSCR refinance of $787,500 pays off the bridge loan with about $14,500 to spare before closing costs. Estimated principal and interest is about $5,239; with $550 in taxes and $300 in insurance, the payment is about $6,089 and DSCR is about 1.13x. Mortgage recording tax and attorney fees come on top, so budget for them on both loans.
| Item | Amount |
|---|---|
| Purchase price | $780,000 |
| Rehab budget | $110,000 |
| Total project cost | $890,000 |
| Bridge loan (85% of price plus 100% of rehab) | $773,000 |
| Loan-to-cost | About 87% |
| Estimated monthly interest-only payment, fully drawn | $6,764 |
| 6 months of interest-only payments | $40,582 |
| After-repair value | $1,050,000 |
| DSCR refinance loan | $787,500 |
| Refinance LTV | About 75% |
| Estimated principal and interest | $5,239 |
| Property taxes | $550 |
| Insurance | $300 |
| Total monthly payment | $6,089 |
| Monthly rent | $6,900 |
| DSCR | About 1.13x |
Plan the takeout before you buy. The refinance qualifies on rent, starts at a 1.0x standard minimum DSCR, goes up to 75% LTV on a cash-out and offers 30-year terms. If the numbers come in just short, a sub-1.0 DSCR program or a lower loan amount may still work.
Do not plan on nightly rentals as the exit. City law requires short-term hosts to register, limits stays under 30 days to the host's own home with the host present, and caps guests, so whole-unit short-term rentals on an investment property generally do not work in the city. Underwrite to 12-month leases. Flood insurance is another line to check for homes in coastal flood zones in Queens, Brooklyn and Staten Island.
Before you sign a term sheet, ask each lender:
Our top pick is LendingStreet. We offer residential investor bridge loans from $150,000 to $5M+, rates from 7.99%, closings in as little as 10 days and an in-house exit to a 30-year DSCR loan once the property is leased.
Yes. We finance non-owner-occupied 1-8 unit investment property in all five boroughs, and in all 50 states and DC.
Often, if the terms of sale give a closing window and your file is approved before you bid. Many referee sales allow about 30 days after the auction, but each sale sets its own terms.
Generally not to market. Under the 2019 rent law, renovation does not remove an apartment from stabilization and rent increases for improvements are limited. Underwrite at legal regulated rents.
Usually not. The refinance generally counts only legal units that match the certificate of occupancy.
No. City rules effectively prevent whole-unit short-term rentals on investment property. Plan the exit on long-term leases.
The mortgage recording tax on each loan, transfer taxes and, on 1-3 family purchases of $1M or more, the mansion tax. Attorneys handle most closings.
In as little as 10 days when title, insurance and entity documents are ready. Court-ordered sales and co-op or condo approvals can add time.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.