Description: R&D/flex space; warehouse, distribution and light industrial properties; single and multi-tenant properties Loan Type: 10-year fixed rate mortgage (other terms may be available upon request)   Preferred Loan Size: $1 million and larger  Maximum Loan: Amount equal to the lesser of: 1. 75-80%* of appraised value; or 2. 1.25-1.30* debt service coverage *depending on age and condition of property  Interest Rates: Determined by market rates at the time of rate lock. Rates vary by loan-to-value ratio, debt service coverage and property quality  Amortization: Up to 30-year schedule  Personal Recourse: None, except for standard exceptions to non-recourse, which are the responsibility of the Key Principal(s)  Assumability: Assumable, subject to NYCL’s approval and a 1% transfer fee  Underwriting Parameters: Vacancy – greater of 5 or market. Minimum reserves - $.20/sf  Prepayment: Standard defeasance (yield maintenance options may be available) Subordinate Financing: Generally not permitted  Escrows: 125% of estimated cost of required repairs, if any, as determined by physical inspection Monthly escrows for real estate taxes, property insurance, tenant improvements and leasing commissions and replacement reserves Application Fee: Based on estimated underwriting costs for appraisal, architectural/engineering report, environmental assessment and other loan processing costs  Financing Fee: Negotiable Closing Expenses: Standard transaction costs, including legal fees, title insurance and survey  Preliminary Submission Package: Include the following in your request for a loan quote: Property description and location map Representative color photographs Current rent roll and year-to-date operating statement Operating history - prior 3 years, if available Current year operating budget Existing debt and cost basis Sponsor resume