Educational information only, not legal, tax or financial advice. Examples and calculations may contain errors; verify them with your own advisors. Advertised starting rates are annual interest, not APR; one point equals 1% of the loan amount. Other fees and costs may apply, and all financing is subject to underwriting.
Why mixed-use often needs a bridge
A building with a vacant storefront or apartments needing work may not qualify for a bank loan yet. A bridge loan lets an investor buy or refinance now, lease the space, then move to long-term financing once income is documented.
Split the income
Show retail and residential rents separately, each with leases, actual collections and expiration dates. A single retail tenant can be a large share of income, so explain what happens if it leaves or renews at a different rent.
Confirm use and approvals
Use NYC's zoning tools for early research, then have your architect or attorney confirm permitted uses, building records and any approvals before you budget a conversion or new retail use.
Terms
Crosby Lending considers investment mixed-use buildings from $100K to $50M, up to 65% of value, rates from 9% annually and origination from 1 point, subject to underwriting. Buildings you live in are not eligible.
The exit
Once the storefront is leased and the apartments are stable, many mixed-use buildings refinance with a bank or commercial lender, or sell at a stabilized value. Budget leasing time, tenant improvements and commissions before counting on that date.
Sources and property research
General information, not legal, tax or engineering advice. Confirm property-specific requirements with qualified advisors and the relevant authorities.
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