Market Insights

3 Things To Know About Commercial Real Estate Lending in NYC in Early 2017


How’s commercial real estate lending doing in New York these days? Who was the Big Apple’s top CRE lender in early 2017? Who issued more money in New York City commercial real estate financing early this year than in previous quarters, and who issued less?

Read on for some highlights of CrediFi’s NYC Lending Spotlight for Q1 2017.

Stabilized Lending

A comparison between Q1 2016 and Q1 2017 shows that commercial real estate lending in New York City stayed flat, at $18 billion, in the same period year-over-year – an improvement over the 10% year-over-year drop from Q1 2015 to Q1 2016.

This appears to be an early indication that NYC loan origination may be stabilizing.

A previous analysis of full-year data showed that commercial real estate lending in New York City declined 17% from 2015 to 2016, to $82 billion, as CrediFi reported in the Q4 2016 Lending Spotlight.

Morgan Stanley: No. 1 NYC Lender

This year’s top Q1 commercial real estate lender in New York City was Morgan Stanley, which originated over $1 billion in NYC commercial real estate loans in the quarter and had a market share of 6%.

Morgan Stanley was the lender behind two of the quarter’s biggest NYC loans, both for office towers in Manhattan, which propelled it to the top lender spot. Lenders that tend to issue fewer loans, like Morgan Stanley, typically exhibit more volatility in our rankings. (See more in Notable New York City Loans.)

New York’s Signature Bank was the No. 2 lender in Q1, with a market share of 6% and over $900 million in commercial real estate loans in NYC, and Germany’s Deutsche Bank came in at No. 3, with over $700 million in loans. Deutsche, Wells Fargo and New York Community Bank each had a market share of 4%.

More Financing from Wells Fargo

CrediFi’s lender comparison shows that Wells Fargo, the No. 4 lender in Q1 2017, more than doubled the amount of money it put into commercial real estate origination in New York City compared with Q1 2016.

Lenders whose loan origination (by dollar amount) decreased in Q1 2017 compared with both the previous quarter and the same quarter last year include Signature Bank, which ranked as No. 2 in Q1 2017, JPMorgan (No. 6) and Citigroup (No. 10).

To download the entire Lending Spotlight, click here.

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