In New York City, the deal that wins is often the one that closes first and still has the rehab money in place. Estate sales and brownstone fixers rarely wait.
In short: Our top pick for hard money style financing in New York City is LendingStreet. We close in as little as 10 days, lend up to 90% of cost with up to 100% of rehab on some programs, and handle the large balances that city deals require, up to $5M+. When the work is done, we can refinance a property you keep into a long-term DSCR loan, so you do not need a second lender.
Why do investors in New York City choose LendingStreet over a typical hard money shop? Because the same team that funds the flip can also write the long-term rental loan. Our fix and flip and bridge loans run from $150,000 to $5M+, close in as little as 10 days, and can cover up to 90% of total cost, with rates from 7.99%.
It fits investors renovating Brooklyn brownstones and two-family homes, Queens attached houses, Bronx and Staten Island fixers, and small 3-8 unit buildings. New York City deals tend to be large, slow to permit and expensive to carry, so leverage, draw speed and a long-term exit all carry more weight here than in most markets.
Send the address, price, rehab budget and exit plan through the form below, or call (877) 298-1001.
If you are weighing CoreVest, Dominion Financial, LendingOne, Lima One and RCN Capital for a hard money loan for investors in New York City, NY, this is the short version: LendingStreet wins the scenarios below, and you can get a quote with the form below.
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 |
|---|---|---|
| Fix and flip above $3M | LendingStreet | Our fix and flip program runs from $150,000 to $5M+. LendingOne states fix and flip loans up to $3,000,000, and RCN Capital states up to $2M. |
| 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. |
| Flip of a 5-8 unit building | LendingStreet | We finance 1-8 unit investor properties. RCN Capital states its fix and flip loans cover 1-4 family homes, condos and townhomes. |
| 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. |
New York City investors usually weigh LendingStreet against local hard money lenders, private money and community banks. This is a general comparison; individual lenders differ, so confirm terms with each.
| What investors need | LendingStreet | Typical local hard money lender | Private individual lender | Local bank or credit union |
|---|---|---|---|---|
| Close quickly | As little as 10 days | Often fast; varies by lender | Can be fast; depends on the person | Usually slower; full underwriting |
| Leverage | Up to 90% of cost | Varies; often lower | Negotiated deal by deal | Often a larger down payment |
| Rehab money | Up to 100% of rehab on some programs, in draws | Varies | Varies | Often limited on distressed property |
| Long-term rental loan | DSCR refinance in-house | Usually short-term only | Rarely | Possible; often needs tax returns |
| Loan size | $150,000 to $5M+ | Varies | Limited by one person's capital | Varies by bank |
| Large balances | $1M+ files are common for us | Varies; may cap loan size | Rarely at this size | Possible; slower approvals |
In Brooklyn, rehab activity concentrates in Bedford-Stuyvesant, Bushwick, Crown Heights, East Flatbush, Flatbush and Canarsie, where brownstones, limestones and frame two- and three-family homes trade. In Queens, investors buy attached and semi-attached homes in Jamaica, Ridgewood, Richmond Hill, Ozone Park and Far Rockaway. The Bronx has frame multi-family homes in neighborhoods like Wakefield and Williamsbridge, and Staten Island offers detached homes closer to suburban prices.
Prices are high, scopes are often heavy, and many purchases are estate sales or long-held homes with deferred maintenance. Gut renovations, new mechanicals, facade work and layout changes are common.
New York City closings are expensive. Buyers usually pay the mortgage recording tax on the loan, and on residential purchases of $1M or more, New York State charges a mansion tax to the buyer. Sellers usually pay the New York City and New York State transfer taxes. Budget all of this, plus title insurance, before you set your offer.
New York is a judicial foreclosure state, and timelines can be long. Rent rules also matter: buildings with six or more units built before 1974 are generally covered by rent stabilization, which can sharply limit post-renovation rents. Confirm the status of any 6-8 unit building and get advice from a New York attorney before you close.
Work that changes layout, plumbing, electrical, gas or structure generally needs Department of Buildings filings and licensed trades. Homes in landmarked historic districts, including parts of Bedford-Stuyvesant, Crown Heights North and Park Slope, also need Landmarks Preservation Commission approval for exterior work.
Permit and sign-off timing often stretches a city rehab well past a suburban one. Plan a longer hold, and build interest and carrying costs for every month into your numbers.
This example is illustrative and not a quote. An investor buys an East Flatbush two-family for $1,050,000 and budgets $250,000 for a full renovation, a total cost of $1,300,000. At 90% of cost, the loan is $1,170,000. The investor brings $130,000 plus about $52,000 in closing costs, including mortgage recording tax and the mansion tax, or $182,000 in all.
The estimated interest-only payment is about $10,238 a month on the full balance. Over an 8-month hold that is about $81,900, plus about $7,600 in taxes and insurance, for an all-in cost of about $1,441,500. At a $1,700,000 resale with about $136,000 in selling costs and seller transfer taxes, the estimated profit is about $122,500 before income taxes.
Holding is harder. A DSCR refinance at 70% of value is $1,190,000. With estimated principal and interest of about $8,118, plus taxes and insurance, the payment is about $9,148. At $7,400 in combined rent, DSCR is about 0.81x, below the 1.0x standard minimum, so this deal works best as a sale unless the investor pays the balance down or uses a sub-1.0 program.
| Line item | Amount |
|---|---|
| Purchase plus rehab | $1,300,000 |
| Loan at 90% of cost | $1,170,000 |
| Cash to close incl. closing costs | $182,000 |
| Estimated interest-only payment | $10,238 a month |
| All-in cost | $1,441,500 |
| Selling costs | $136,000 |
| Estimated profit before income taxes | $122,500 |
Lenders that look similar on a website can be very different at the closing table. These questions separate them quickly.
LendingStreet's answers: leverage up to 90% LTC with up to 100% of rehab on some programs; a 1.0x standard DSCR minimum when you refinance to hold (sub-1.0 programs exist); seasoning that varies by program; entity borrowing as the norm; as little as 10 days to close; and a range of $150,000 to $5M+.
Many city flips end in a sale, because high prices make rental ratios tight. When rents support it, a 30-year DSCR loan that qualifies on rent, with no W-2s or tax returns, lets you keep the building. Run both exits before you buy.
Get a quote with the form below or call (877) 298-1001 to talk through a NYC purchase.
Our top pick is LendingStreet. We offer hard money style speed with closings in as little as 10 days, up to 90% of cost and up to 100% of rehab on some programs, loans up to $5M+, and a DSCR refinance if you hold.
Yes. We lend in all five boroughs and across New York State, as well as all 50 states and DC.
Yes, if it is a 1-8 unit investment property with a clear scope, budget and exit. Rehab funds are released in draws after completed work is inspected.
We review them case by case. Rent stabilization can limit post-renovation rents, so the rental exit has to work on legal rents.
Expect mortgage recording tax, title insurance and lender fees, plus the mansion tax on residential purchases of $1M or more. Sellers usually pay city and state transfer taxes. Confirm with your attorney.
Our fix and flip and bridge loans run from $150,000 to $5M+, and larger balances are reviewed case by case.
Rates start from 7.99%. Actual pricing depends on the property, leverage and your experience.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
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