The Real Deal New York

Post-crash, community banks remain a force in multi-family financing

Local lenders go where larger players dare not
By Katherine Clarke | November 16, 2012 10:00AM

From the November issue: Even as national banks and insurance firms reenter the lending arena, community banks are hanging onto the foothold they established in the multi-family market when larger institutions backed away during the financial crisis.

Local banks such as New Jersey–based Investors Bank and New York Community Bank are doing record volumes of lending, spurred on by the strength of New York’s multi-family market, sources told The Real Deal. For the most part, their staying power is thanks to the relationships they built during the dark days of the financial crisis and their willingness to both invest in up-and-coming areas and create customized loans for tricky deals. [more]