Top commercial lenders

In TRD’s latest ranking, which tracked loans issued throughout the five boroughs between July 2018 and June 2019, traditional lenders dominated both construction and nonconstruction debt deals.

Nonbank lenders — including life insurance and private equity firms, debt funds and CMBS shops — did not rank highly, in part because many of them specialize in mezzanine deals, which were not tracked by TRD.

But the ranking revealed that construction lending fell far short of nonconstruction lending, a factor exacerbated by the market nearing the end of a prosperous cycle. The top 15 nonconstruction lenders collectively issued $47.37 billion in loans, compared to just $12.24 billion issued by the top 15 construction lenders.

“On the construction side, there’s certainly fewer projects because the condo market in New York is challenged right now,” said Dustin Stolly, co-head of Newmark Knight Frank’s debt and structured finance division. “There’s not the same pipeline that there was two or three years ago in the cycle.”

Ed Dagnino JPMorgan Chase
Ed Dagnino
JPMorgan Chase
George Doerre M&T Bank
George Doerre
M&T Bank
Dino Fusco Goldman Sachs
Dino Fusco
Goldman Sachs

NYC’s Top 15 Construction Lenders

RankFirmTotal Dollar Volumeno. of Loans
1Goldman Sachs$1.52B3
2JPMorgan Chase$1.50B6
3Bank OZK$1.37B11
4Otéra Capital$1.07B6
5M&T Bank$996.7M6
6Deutsche Bank$894.7M4
8S3 Capital Partners$632.6M62
9Sumitomo Mitsui$628.5M2
10United Overseas Bank$600.7M3
11Wells Fargo$600M2
12Bank of China$543M4
13Madison Realty Capital$519M11
15Bank of America$457.8M3

NYC’s Top 15 Nonconstruction Lenders

RankFirmTotal Dollar VolumeNo. of Loans
1Wells Fargo$6.90B482
2JPMorgan Chase$6.79B1,032
3Deutsche Bank$6.19B61
4New York Community Bank$4.91B681
5Signature Bank$3.28BN/A
6Goldman Sachs$3.26B74
7Bank of America$3.0B115
8Morgan Stanley$2.01B45
9M&T Bank$1.98B106
10Capital One Bank$1.90B201
11Bank of China$1.68B6
12First Republic Bank$1.56B261
14TD Bank$1.25B196
15Blackstone Group$1.18B5