The Scheme of Things: January Mortgage Charts


January 2014’s data reflects mortgages recorded by the New York City Department of Finance as this issue was going to press. Despite several factors, among them the regular end of the year rush and the chatter around commercial real estate’s reaction to a de Blasio mayoralty, activity slowed between October and November 2013.

Refinances vs. Purchases

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Both purchases and refinances fell off in November 2013.  Looking back a year, November 2013’s totals were down all the way from 757.


Total Sales by Borough

With the end of the year approaching, sales rose in Manhattan but declined in the other boroughs studied.  Activity in the Bronx fell to nearly half that seen in November 2012.


Top 10 Lenders

Catapulting Signature Bank to the top of transactions for November 2013 was Rainbow Estate Group’s purchase of several Upper West Side buildings from Baruch Singer. Public records show the bank provided $214.4 million for the portfolio’s purchase.

Bank Oct 2013 Bank Nov 2013
New York Community Bank 93 Signature Bank 156
Signature Bank 46 New York Community Bank 152
J.P.Morgan Chase 45 Capital One 131
Investors Bank 41 M&T 128
Astoria Federal Savings Bank 40 Flushing Bank 126
Flushing Bank 27 Astoria Federal Savings Bank 124
Capital One 22 J.P.Morgan Chase 124
BankUnited 19 People’s United Bank 122
Valley National Bank 17 TD Bank 121
People’s United Bank 16 Investors Bank 120
Dime Savings Bank of Williamsburgh 16 Wells Fargo 115


Most Active ZIP Codes—Financing

The Upper West Side saw a lot of activity for November 2013, which was not surprising given the dozens of buildings Rainbow Estates Group picked up there (see above).
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ZIP Code Oct 2013 ZIP Code Nov 2013
11237 33        10026 57
11216 29        10027 24
11211 24        11211 20
11226 21        11222 20
11213 20        10003 19
10016 18        10031 19
11221 18        10019 18
10019 18        11221 18
11215 18    
11201 18    

Data courtesy of Actovia

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