Category: Commercial Real Estate

As we move into the fourth quarter, a complex but navigable multifamily market has emerged. Multifamily borrowers worry about the rising interest rate, the severity of a very likely recession, the approaching inflection point, and the changing business narrative following the past two years of COVID-19. However, multifamily remains a stable and attractive asset class […]

“The pandemic taught us as an institution the need to stay agile, the need to pivot, the need to move fast.” Our founder and CEO Wendy Cai-Lee recently sat down with Crain’s New York’s Natalie Sachmechi and shared the experience and insights on real estate lending in a pandemic year.

NY office market is not dead, but ever-changing and evolving. “There are a lot of developers who are very hungry to find distressed real estate,” said Robert Rynarzewski, Head of CRE at Piermont Bank to Market Watch.

Piermont Bank are sizing the moment to help commercial real estate developers, owners and operators as big banks become timid in the shaky pandemic economy. “We’ve had a multitude of clients that were about to close deals with an existing bank,” said Robert Rynarzewski, head of commercial real estate at Piermont, “but the bank won’t return their phone calls. They’re leaving their clients at the closing table.”

Today there’s more uncertainty in the commercial real-estate market. Many lenders are telling clients they are “waiting to see how the market will play out.” Challenged by growing defaults, lenders are focused on tightening structures across their client base.