Investor question about multi-family and financing

I have identified several apartment buildings (in the $10-20MM range) in NYC with good numbers, and in good condition.
My question is, how can I get up to a 100% CLTV? Are there lenders who will allow the seller to carry, getting me up to the 100% level?
Maybe the first mortgage is at 80%, and then the seller holds 20%.
Who can help me get there?
In Buying Property - Asked by Justin A. - Aug 27, 2009
Report Abuse
Answer this Question


Davide P.
Pinole, CA

I don't want to say never, but there is near guaranteed 0% chance you are going to get what you are looking for. With commercial you are going to need 30-35% down in nearly every transaction, period. You are talking about getting a lender to let you borrow $7.5-15M and a seller who owns it give up $2.5-5M in equity to carry it back? What would be the point of selling it? This wasn't even available a few years ago let alone now.

Aug 28, 2009
Report Abuse
Gregory G.
San Francisco, CA

That's a tough one, especially today where LTV's of 50% are becomming the norm.

Sep 1, 2009
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question