We will simultaneously commit a construction loan and a long-term permanent mortgage, which can be committed up to 24 months in advance. This includes lending for the acquisition/refinancing and rehabilitation of multifamily-occupied properties, gut renovation of vacant buildings into multifamily properties, and new construction of multifamily properties.

Our longstanding partnerships with public pension funds, the New York City Retirement Systems (NYCRS) and the New York State Common Retirement Fund (CRF), as well as a private pension fund administered by Wespath Benefits and Investments, allow CPC to leverage their strength to bring stable permanent capital to our borrowers in New York State. Additionally, our Long Term Fixed-Rate Financing Product can be insured by the State of New York Mortgage Agency (SONYMA).

The CPC Bridge to Construction loan product provides acquisition and pre-development financing to meet the short-term pre-construction financing needs of multifamily rental property developers in New York State.