Approaching a lender to receive a construction loan for a new project can be a walk in the park if you’ve completed successful projects in the past and know the right people. A new developer, however, must depend on other qualities to be sure that they obtain the loan that will make or break their plans. Namely, an airtight proposal with as much research as possible. In addition to knowing your own potential project inside and out, it can be helpful to know which lender to approach and the history of their previous loans.
TRData has combed through hundreds of thousands of ACRIS transactions to create a list of construction loans that can bridge the gap between the knowledge required to complete a new building and the money required to build it.
Our list contains over 500 mortgages recorded for projects throughout the five boroughs, meant for either ground up construction or interior renovations. These mortgage transactions were recorded between October 2016 and September 2017 and include loans of a million dollars and more, with the $1.6 billion loan for 50 Hudson Yards topping the list.