Commercial real estate lending in Staten Island (Richmond County), NY
Richmond County is home to 492,734 residents with a median household income of $98,290 and 3.9% population growth over five years. Commercial deals here are underwritten to New York's typical standards — around 1.25x DSCR and 75% maximum LTV on stabilized assets — with pricing shaped by the county fundamentals below.
Market character
The city's smallest CRE market by volume but its fastest-changing industrial story: the West Shore's warehouse corridor serves last-mile demand for the entire harbor. Elsewhere the borough is neighborhood retail and small multifamily, with a local lender-and-sponsor ecosystem that prizes relationships over auction processes.
Staten Island by the numbers
| Population | 492,734 |
| 5-year population change | +3.9% |
| Median household income | $98,290 |
| Median age | 40.4 |
| Median home value | $658,500 |
| Median gross rent | $1,689/mo |
| Housing units | 184,074 |
| Renter-occupied share | 32.1% |
Source: U.S. Census Bureau, ACS 5-year estimates (2023).
Underwriting a Staten Island deal
A Staten Island property clears the same four constraints as any New York deal — 1.25x minimum DSCR and 75% maximum LTV on stabilized assets, an 8% debt-yield floor, and loan-to-cost caps on construction — with benchmark cap rates for NY spanning roughly 5.0% (multifamily) to 7.0% (hotel). The full state-by-asset-class table lives on the benchmarks page; run Staten Island numbers through the loan sizer to see which constraint binds.
New York closing costs to budget
Financing in Richmond County carries New York's mortgage recording tax — the single largest closing cost on most deals (up to 2.8% of the loan in NYC). Refinances routinely use a CEMA to pay tax only on new money. Estimate the full stack for a Staten Island deal with the closing cost calculator or read the recording tax guide.
Financing a property in Staten Island?
Relendi analyzes your deal against real underwriting criteria — DSCR, LTV, debt yield, and market benchmarks — in minutes.
Analyze my deal freeFrequently asked questions
What DSCR do lenders require in Richmond County?
In Staten Island — a market of 492,734 residents where median gross rent runs $1,689 a month — lenders apply New York's usual floors: typically 1.25x DSCR stabilized, 1.20x on acquisitions, 1.10x on bridge or construction. The county changes which lenders compete for the deal more than it changes the ratio.
What are typical commercial cap rates in Staten Island?
Statewide New York benchmarks run roughly 5.0% for multifamily up to 7.0% for hotels; where Staten Island deals price inside those bands depends on submarket, asset quality, and tenancy — in a county whose median home value is $658,500, residential-adjacent product tends to price at the tighter end. Individual comps set real pricing.