An in-depth analysis of recent commercial lending activities in Brooklyn, NY, reveals a dynamic real estate landscape marked by the successful closure of 2,000 loans within the past 90 days. These loans showcase a wide-ranging spectrum, with amounts spanning from $12,441.00 for a mixed-use property to an impressive $249,509,952.00 for an apartment complex, reflecting the robust economic activity and diversity of the Brooklyn real estate market.
The property types financed in the past 90 days underscore the richness of Brooklyn’s real estate offerings, including:
Residential – Duplex/Triplex/Quadplex: 768 deals
Apartments: 234 deals
Residential Condo: 258 deals
Single Family Residence: 252 deals
Mixed Use: 190 deals
Services: 41 deals
Retail: 39 deals
Parking: 32 deals
Industrial: 28 deals
Attractions: 12 deals
Motels: 13 deals
General Commercial: 1 deal
Hotel: 1 deal
Educational: 3 deals
Vacant – Residential: 50 deals
Vacant: 24 deals
Vacant – Industrial: 24 deals
Office: 19 deals
Misc: 7 deals
Manufacturing: 6 deals
Cooperative: 5 deals
Government: 13 deals
Transportation: 1 deal
Recreation: 1 deal
Brooklyn’s commercial lending scene is spearheaded by an array of financial institutions, reflecting the city’s status as one of the world’s financial centers. Leading lenders actively involved in Brooklyn’s real estate financing over the past 90 days include:
– JP Morgan Chase
– Citizens Bank NA
– TD Bank NA
– Cathay Bank
– East West Bank
– CitiBank NA
– Wells Fargo
– Flushing Bank
– Bank of America
– Lima One Capital
These lenders offer a wide range of products with competitive terms, catering to the diverse needs of borrowers in the Brooklyn market. The interest rates offered by these lenders typically range from 6.85% to 7%. Notably, most lenders in New York have the capacity to extend loans of up to $250 million, showcasing the city’s robust lending environment. Additionally, a debt fund stands out by offering the highest Loan-to-Value (LTV) ratio of 80%, providing attractive financing options for borrowers in Brooklyn.
