Construction Financing
Ground-up and major conversion construction facilities ($10M to $150M+).
Closing a construction loan requires total alignment across your hard-cost contingency, interest-reserve sizing, equity pay-in sequence, completion guarantees, and takeout underwriting.
We underwrite your GMAX / construction budget, draw schedule, and untrended exit NOI before approaching lenders—and pair senior bank or debt-fund facilities with mezzanine or JV equity when you need to push leverage to 75–85% LTC.
NYC & National Development Execution
In New York City and major growth MSAs, we structure construction capital around tax-abatement timelines (421a / 485x, City of Yes zoning bonuses), pre-leasing hurdles, and mini-perm extension options.
We also evaluate HUD 221(d)(4) non-recourse construction-to-permanent executions side-by-side against faster debt-fund and regional bank facilities so you never sacrifice delivery timing for leverage.
Typical Deal Parameters
| Loan Size | $10M to $150M+ |
| Leverage | Up to 65% LTC (typical); 70%+ on select programs |
| Term | 18 to 36 months construction + mini-perm option |
| Structure | Interest reserve included; structured draws |
| Recourse | Full recourse during construction; burns off at stabilization (typical) |
| Programs | Conventional, 421a, Affordable New York, HUD 221(d)(4) |
Breaking ground on a development or major conversion? Send us your pro forma and construction budget for 24-hour LTC sizing and lender feedback.
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