The financing may be for the acquisition, construction, reconstruction and/or renovation of non-residential real property within the New York Liberty Zone and, under limited circumstances, elsewhere within The City of New York. Generally, eligible commercial projects must meet one of the following threshold requirements:

• New commercial construction projects located within the Liberty Zone creating at least 20,000 square feet of contiguous space; if located outside the Liberty Zone, creating at least 100,000 square feet of contiguous space
• Commercial renovation projects located in the Liberty Zone consisting of at least 50,000 square feet of contiguous space; if located outside the Liberty Zone, consisting of at least 100,000 square feet of contiguous space
• Commercial renovation projects located in the Liberty Zone involving expenditures for base building improvements of not less than $50 per square foot; if located outside the Liberty Zone, involving base building expenditures of not less than $100 per square foot.