Northeast Multifamily Bridge Loans: Fixed Rates Near 9.50%

Based on soft-quote and term-sheet loan quotes on multifamily properties in the Northeast, priced as bridge financing (light and heavy bridge combined), from April through August 2026.

Fixed-rate quotes in this pool run from 6.65% to 11.25%, with a median of 9.50% — a wide range typical of bridge financing, where the loan spans everything from light transitional deals to heavier repositioning plays. Floating-rate quotes, presented separately, range from 6.41% to 11.25%, with a median of 9.00%. LTV has a median of 67.5% (60%–80%). LTC — recorded on a smaller subset — has a median of 75% (70%–85%). DSCR is recorded on only a handful of quotes in this pool (1.25x–1.50x, too thin to treat as a stable benchmark). Of the quotes where recourse type was specified, the large majority carry full recourse, with a small share carrying partial or burn-off structures; separately, the large majority carry personal recourse guarantees, with a modest non-recourse share as well.

Terms in this pool are short, as expected for bridge financing — most run 12 months, with a smaller share extending to 24 months and a long tail of other terms. An interest-only period is present on nearly every quote in this pool, ranging from 6 to 24 months; a stated amortization schedule appears on only a couple of quotes and isn't meaningful to report as a pattern here. Loan sizes in this pool range from $1,290,000 to $7,600,000, with a median loan amount of $2,872,000.

Fixed rate by asset type

Floating rate by asset type

Mid/Highrise prices notably wider than Urban Walk-up across both rate types — roughly 200–225 bps at the median. That likely reflects the larger, more complex repositioning projects that tend to come with mid/highrise bridge deals versus smaller walk-up transitional financing.

Fixed rate by loan size

Larger deals in this pool priced dramatically tighter — the $3M–$7M band clusters near 6.65%, versus a median above 9.5% under $3M. That's a much wider gap than Lev typically sees on permanent financing, consistent with smaller bridge loans skewing toward higher-margin private and debt-fund lenders rather than the more institutional capital competing for larger deals.

FAQ

What fixed rates is Lev seeing on Northeast multifamily bridge loans right now?

Lev is seeing a median of 9.50%, with a wide range from 6.65% to 11.25% depending on asset type, loan size, and deal complexity.

What about floating-rate quotes?

Lev is seeing floating-rate quotes range from 6.41% to 11.25%, with a median of 9.00% — similar in shape to fixed, with the same Mid/Highrise premium.

Does the multifamily subtype affect pricing?

Yes, significantly. Urban Walk-up bridge loans price meaningfully tighter than Mid/Highrise in this pool — roughly 200+ bps apart at the median on both fixed and floating.

Does loan size affect pricing on Northeast multifamily bridge deals?

Yes, and by a wide margin — larger deals ($3M+) in this pool priced dramatically tighter than smaller ones, likely reflecting which lender types compete at each size.

What LTV and LTC is Lev seeing required?

Lev is seeing a median LTV of 67.5% and a median LTC of 75% across this pool.