NYC market flush with financing

The city’s real estate market is benefiting enormously from the availability of investment capital, a trend that is expected to continue in the coming year. Financing is particularly easy to come by in the city’s hot office market. “Lenders are competing to provide such a significant portion of deal capitalization because they too are flush with capital, have few alternative investment options, and have not seen a significant credit event in real estate in more than 10 years,” said Gino Martocci, the director of commercial and real estate lending for the New York City division of M & T Bank. more [Sun]