Managing Partners Peter Aytug and Rhea Stathatos speak on rising NYC suburban markets for real estate investment.
NEW YORK, NY, UNITED STATES, March 24, 2026 /EINPresswire.com/ — York Funding, a New York-based commercial real estate lender, has announced the deployment of $3.2 million in short-term bridge financing to support the development and stabilization of three luxury duplex properties in Cliffside Park, New Jersey. The newly built, townhouse-style homes are expected to sell for approximately $1.3 million per unit, implying an estimated $7.8 million total sale value across the six residences. Recent comparable sales in the area have exceeded $1.35 million per unit, underscoring continued demand for well-located luxury product.
“We prioritize speed, certainty of execution, and disciplined deal structures—supporting experienced sponsors in supply-constrained submarkets with consistent buyer demand,” says Peter Aytug, Co-Founder and Managing Partner at York Funding. “Cliffside Park offers immediate access to Manhattan and demonstrates sustained interest in high-end housing, which supports today’s new-construction pricing.”
The three properties are being developed by an established sponsor with a proven track record and a successful borrowing history with York Funding. Proceeds will support completion and stabilization ahead of the planned sale of the six units.
Key Highlights
• $3.2 million deployed in short-term bridge financing
• Collateral: Three luxury duplex properties (six townhouse-style residences) in Cliffside Park, New Jersey
• Expected pricing: Approximately $1.3 million per unit (approximately $7.8 million implied total sale value)
• Market support: Recent comparable sales in the area have exceeded $1.35 million per unit
Cliffside Park continues to benefit from proximity to Manhattan, an active rental market, and sustained price appreciation—factors that have supported absorption of new construction. Aytug notes that, relative to Manhattan and nearby urban neighborhoods, the market’s pricing on a price-per-square-foot basis broadens the buyer pool for larger, new-build residences. Migration trends from New York City have also contributed to local demand in recent years.
York Funding has invested similarly in the residential markets of nearby Weehawken and Edgewater as luxury product continues to appreciate there, investing an additional $2 million into these markets in the past year. The firm continues to pursue residential and mixed-use bridge financing opportunities across the Northeast, emphasizing experienced sponsorship, disciplined underwriting, and markets with demonstrated demand. Co-Founders Peter Aytug and Rhea Stathatos also work with developers across asset types to structure short-term capital solutions, aligned with construction timelines and targeted exit strategies.
York Funding views Cliffside Park as a location-driven market with favorable local supply-and-demand dynamics for luxury residential product. Aytug and Stathatos predict that, combined with experienced sponsorship and conservative loan structures, these factors support a clear path to completion and disposition for many more properties.
About York Funding LLC — York Funding is a New York-based commercial real estate lender providing short-term bridge financing to experienced sponsors across select U.S. markets.
Diana H Risse
York Funding
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