In the bustling commercial lending landscape of Albany, New York, a comprehensive analysis reveals a dynamic environment marked by 188 successful loan closures in the past 90 days alone. These transactions span a diverse range, from modest sums starting at $50,000.00 to impressive amounts reaching $20,400,000.00, with a notable focus on financing apartments.
A closer look at the property types financed underscores the city’s economic diversity:
– Single Family Residence: 85 deals
– Residential – Duplex/Triplex/Quadplex: 51 deals
– Apartments: 11 deals
– Vacant – Residential: 11 deals
– Office: 5 deals
– Services: 6 deals
– Industrial: 3 deals
– Educational: 1 deal
– Mixed Use: 7 deals
– Parking: 2 deals
– Retail: 1 deal
– Residential Condo: 2 deals
– Vacant – Commercial: 1 deal
– Misc: 1 deal
– Misc Residential: 1 deal
In Albany’s vibrant commercial lending landscape, a variety of institutions lead the way, including nationwide leaders and local banks. Prominent names such as United Wholesale Mortgage, Bank of America, AD Mortgage, JP Morgan Chase, and TD Bank NA are among the frontrunners, showcasing a blend of national and local financial expertise.
Local banks and debt funds also actively participate, demonstrating flexibility in lending to support the growth and development of local properties. This multifaceted approach underscores Albany’s status as a thriving economic hub with opportunities for diverse commercial lending solutions.
