The Real Deal New York

From the January issue: In the high-flying days of New York’s real estate boom, developers worried more about Italian marble and Bosch dishwashers than adjustable-rate and fixed-rate mortgages. In the rush to buy Manhattan real estate, buyers were left to navigate the confusion of financing for themselves. But now, the tables have turned as the credit crunch has made mortgages difficult to obtain, and as the Wall Street meltdown has zapped the pool of available buyers. Suddenly, buyer financing is one of the primary obstacles to real estate sales. As a result, developers are increasingly relying on their preferred lenders and mortgage brokers to help their buyers navigate the complex world of mortgages and increase their chances of closing deals.