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 of PRIME minus 60 basis points
•       •  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

6/20/2008

The Corporation for Supportive Housing has originated an acquisition and predevelopment loan to New Destiny Housing Corporation.  New Destiny's project will provide 41 units of housing to low-income tenants and formerly homeless individuals and families.