“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.
Category: Commercial Real Estate
The Ultimate CRE Refinance Playbook
The global pandemic and economic crisis continue to take hold of New York. While the market is filled with uncertainties, one thing we know for sure is the low-interest rate environment will continue, as the Fed recently announced it plans to keep interest rate near zero through 2023. Now commercial real estate owners are facing […]
Featured on MarketWatch: The New York City office may be in limbo, but dead? Fuhgeddaboudit
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.
Deals: Rynarzewski and Gladstone of Piermont Bank place $8 million for Nassi of Buchanan Development
Craig Nassi of Buchanan Development LLC has closed on $8 million in financing for 65 Buchanan Pl. The financing was placed by Robert Rynarzewski and Andrew Gladstone of Piermont Bank. The subject is a newly developed class-A multifamily property containing 25 residential units, and three commercial spaces. The seven-story property also has 12 parking spaces.
Featured on Crain’s New York: Local banks rush in where big banks fear to tread
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.”