Welcome
The New York City Acquisition Fund LLC offers acquisition and predevelopment loans to developers committed to the creation and preservation of affordable housing in the five boroughs of New York City.
Made possible through an unprecedented partnership between the City of New York, major foundations and New York’s public and private investment groups, the Fund provides loans at the following general terms:
- • Capital advance rates of up to 130% LTV for Non-Profit Borrowers and up to 95% LTV for For-Profit Borrowers
- • Variable interest rate currently indexed to Prime
- • Loan terms of up to 3 years
- • Limited Recourse down to 25%
To find out how the Fund can help with your project, please contact one of our Originators listed below.
Recent News
June 16, 2009
CSH originated a Project Loan to Phipps Houses to finance the acquisition and predevelopment of 75 units of supportive housing located in the Melrose section of the Bronx.
May 11, 2009
CSH originated a Project Loan to the Lower East Side Service Center to finance the acquisition and predevelopment of 89 units of supportive housing located in the Morrisania section of the Bronx.
April 11, 2009
CSH originated a Project Loan to PROMESA to finance the acquisition and predevelopment of 60 units of supportive housing located in the Norwood section of the Bronx.