New York City construction

Signs are beginning to show that the market for construction loans has a pulse again, the New York Times reported. An increasing amount of lenders are eyeing new condominium, office, hotel and retail developments.

“There is plenty of debt capital available and as we bid on transactions there is a lot more competition than there was 12 months ago, and certainly more than 24 hours ago,” Bill Cotter, the northeast division manager at Wells Fargo Commercial Real Estate, told the Times. [more]