How New City Financial underwrites office financing
Office lending has tightened across much of the country, but well-located buildings with real cash flow remain financeable — the difference is in how the deal is underwritten. New City Financial qualifies office loans on the property's own economics rather than your personal income, so we start with the building's net operating income and its debt-service coverage ratio (DSCR) instead of your tax returns. Deals that clear a 1.0 DSCR or better, with credible in-place or projected rents, are our core business. That cash-flow-first approach is what lets a self-employed investor, a partnership, or an LLC close on an office asset without the multi-year income documentation a conventional bank demands.
On terms, we lend up to 75% of value, on loan amounts from $75,000 to $50 million, with a 500 FICO floor and closings in under three weeks when title and third-party reports cooperate. Fixed-rate structures over 3, 8, and 30 years — with no balloon payments — give office investors a predictable debt cost to underwrite against, which matters when re-tenanting timelines and capital budgets are uncertain. Any rates shown on this site are illustrative; your actual pricing depends on the asset, the market, your leverage, and sponsor experience.
Office deals we finance
We finance a broad slice of the office market: stabilized multi-tenant buildings with staggered leases, single-tenant properties with a creditworthy occupant, medical and dental office condos, professional and legal suites, and flex space that blends office with light warehouse. Value-add plays are welcome — acquiring an under-leased or dated building, modernizing common areas and suites, and re-tenanting to lift NOI is exactly the kind of business plan our financing is built for. Owner-occupied commercial office, where your operating business takes space in the building it owns, is eligible as a business-purpose loan.
Because every loan is business-purpose, we do not finance primary residences, and as a commercial lending firm we work with investors and business owners rather than consumer homebuyers. Common uses include acquisition, rate-and-term refinance to replace a maturing or higher-cost loan, and cash-out refinance to pull equity for the next acquisition or a capital-improvement budget. If you are weighing whether a specific office building pencils, the fastest path is a short conversation about the rent roll, the in-place NOI, and your business plan for the asset.
