Hard money lender in Manhattan, NY
GPS Capital is a direct hard money and private lender for Manhattan investment real estate. We finance condo purchases, multifamily and mixed-use buildings, commercial property and renovation projects across the borough - with in-house underwriting built for Manhattan price points and Manhattan deadlines. We recently closed a $2,500,000 condo purchase in Manhattan.
Manhattan hard money and bridge loan terms
Rates 9.99% to 12.99%, 1 to 2 points, loans from $500K to $20M, up to 70% of after-repair value, typically 12-month terms. No minimum credit score. Closes as fast as one week - well-documented deals have funded in 3 to 5 business days.
Manhattan deals regularly sit at the higher end of our range, and our $20M ceiling fits the borough's real price points.
When Manhattan investors use hard money
Buying at auction or from an estate with a hard closing date. Taking down a condo unit in a building banks will not touch. Refinancing to pull cash out for the next acquisition while permanent financing catches up. Carrying a renovation on a mixed-use building. In each case the math is the same: a short-term asset-based loan costs a few months of interest and saves the deal.
FAQ
Manhattan FAQ
Who is a direct hard money lender in Manhattan?
GPS Capital is a direct private lender headquartered in Brooklyn, lending in Manhattan since 2003. We recently closed a $2.5M condo purchase in Manhattan, and every loan is underwritten and funded in-house.
Can I get a hard money loan on a Manhattan condo?
Yes. Investment condos are a core Manhattan product for us, including units in buildings that fail bank requirements. We underwrite the unit and the building ourselves.
What loan sizes work in Manhattan?
GPS Capital lends $500K to $20M, up to 70% of value - sized for Manhattan price points, including multifamily, mixed-use and commercial assets.
How fast can a Manhattan hard money loan close?
As fast as one week. Well-documented deals have funded in 3 to 5 business days. Estate sales and auction deadlines are situations we handle regularly.
What are the rates and points?
9.99% to 12.99% with 1 to 2 points, typically on 12-month terms. Every deal is priced on its own merits.
Do you work with Manhattan brokers?
Yes. Brokers are welcome and GPS Capital pays broker fees. Send the address, loan amount and the borrower's goal for a same-day review.
Have a deal? Get a response within 2 hours.
No obligation. If we can’t fund it, we’ll tell you straight.
Or call us now: 718-247-8863 Deals@gpscapllc.com