Top 2025 construction lenders for NYC ground up, rehab, conversion: PincusCo analysis
New York City’s construction lending landscape in 2025 was defined by a significant investment of private capital, as specialized debt funds and regional banks aggressively filled the demand. While public agencies like the city’s Housing Development Corporation continued to provide significant volume, targeting affordable housing, the bulk of the overall activity is private and bank financing for new construction and substantial rehabilitation projects. Total volume for the top 105 lenders showed a marked concentration of power among a handful of private firms that managed to scale their operations even as interest rates remained elevated.
Lenders provided borrowers $23.3 billion in 344 deals in 2025, compared to $17.1 billion in 275 deals in 2024, the PincusCo analysis showed.
Methodology: PincusCo Media counted loans of $5 million and up, by their document date. If a lender provided a land loan along with the building loan and project loan, the land loan was included. Rehabilitation loans included two very different types of loans — one for property conversion for example an office building to residential, while the type of loan was to renovate affordable housing. The totals do not include mezzanine debt or preferred equity since the ranking only tracks loans recorded with the City Register, and displayed on the Acris portal. Those are secured by real property, not by equity stakes.
Madison Realty Capital emerged as the top non-public benefit lender by dollar volume in 2025, recording a total of $1.22 billion across four major transactions. This represented a leap from the firm’s 2024 activity, where it closed just two construction-related loans totaling approximately $93.71 million. The firm’s ascent was anchored by its involvement in some of the year’s most substantial ground-up and new construction projects, most notably a $540 million financing package issued on May 16, 2025, to a joint venture between Metro Loft Management and David Werner Real Estate Investments. That deal covered 235 East 42nd Street and 219 East 42nd Street in Manhattan.
Closely following Madison in the volume rankings was Merchants Capital, which closed $1.16 billion in lending across four deals in 2025. Merchants Capital showed a clear preference for large-scale rehabilitation and new construction, nearly tripling its 2024 volume of $445.89 million. Their most significant transaction was a $483.27 million rehab construction loan issued on December 18, 2025, to Vaya Development. The financing covered a sprawling portfolio of properties in Manhattan, including 307 East 117th Street and multiple parcels along Lexington Avenue and St. Nicholas Avenue. This activity placed Merchants Capital firmly at the top of the private lending stack, particularly within the Manhattan market where they concentrated over 63 percent of their total volume.
S3 Capital maintained its position as both a volume leader and the city’s most prolific lender by deal count. In 2025, S3 Capital crossed the billion-dollar threshold, issuing $1.03 billion in loans, up from $436.60 million the previous year. While other firms chased a few massive deals, S3 operated with a high-velocity model, closing 29 construction-related transactions in 2025. This deal count was the highest of any private lender in the city. Their activity was heavily centered in Brooklyn, which accounted for nearly 76 percent of their transaction count and 58 percent of their total dollar volume. A standout deal for the firm was a $210 million new construction loan for 6128 8th Avenue in Brooklyn, issued to Watermark Capital Group and Rubin Equities in March 2025.
Top 2025 construction lenders for NYC ground up, rehab, conversion: PincusCo analysis
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | Rank | Company | Lending Activity Summary | 2025 Total | 2025 Count | 2024 Total | 2024 Count | Largest Deal Summary |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 1 | NYC Housing Development Corporation | The firm saw its highest deal volume (count) in BRONX (44.4%), BROOKLYN (35.6%), whereas dollar volume was concentrated in BROOKLYN (41.4%), BRONX (38.5%). Their loan portfolio averaged $228.49M, ranging from $16.17M to $995.00M. | 6,820 | 27 | 3,460 | 18 | Funding MDG Design + Construction with $995.00M for rehab construction at 9910 Seaview Avenue in BROOKLYN on Dec 23, 2025 was their biggest play. |
| 2 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 2 | Madison Realty Capital | Lending activity was most frequent in MANHATTAN (66.7%), BROOKLYN (16.7%) by deal volume (count), while dollar volume was led by MANHATTAN (53.4%), QUEENS (40.1%). Loans spanned from $44.21M to $540.00M, averaging $218.24M. | 1,220 | 4 | 94 | 2 | The largest transaction was a $540.00M new construction loan for 235 East 42nd Street and 219 East 42nd Street in MANHATTAN, issued to Metro Loft Management|David Werner Real Estate Investments on May 16, 2025. |
| 3 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 3 | Merchants Capital | By deal volume (count), MANHATTAN (60.0%), BRONX (40.0%) represented the bulk of activity; MANHATTAN (63.4%), BRONX (36.6%) captured the most dollar volume. The group maintained a range of $88.27M to $483.27M, averaging $321.17M. | 1,160 | 4 | 446 | 1 | Funding Vaya Development with $483.27M for rehab construction at 307 East 117th Street, 1980 Lexington Avenue, 1940 Lexington Avenue, 110 East 129th Street, 131 St Nicholas Avenue, and others in MANHATTAN on Dec 18, 2025 was their biggest play. |
| 4 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 4 | S3 Capital | By deal volume (count), BROOKLYN (75.9%), MANHATTAN (11.1%) represented the bulk of activity; BROOKLYN (58.1%), QUEENS (27.1%) captured the most dollar volume. The group maintained a range of $5.10M to $210.00M, averaging $27.20M. | 1,030 | 29 | 437 | 25 | The largest transaction was a $210.00M new construction loan for 6128 8th Avenue in BROOKLYN, issued to Watermark Capital Group|Rubin Equities on Mar 14, 2025. |
| 5 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 5 | Fannie Mae | Only one deal. | 995 | 1 | 0 | 0 | The largest transaction was a $995.00M rehab construction loan for 9910 Seaview Avenue in BROOKLYN, issued to MDG Design + Construction on Dec 23, 2025. |
| 6 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 6 | New York City Housing Authority | Lending activity was most frequent in MANHATTAN (40.0%), BROOKLYN (40.0%) by deal volume (count), while dollar volume was led by MANHATTAN (65.7%), BRONX (30.7%). Loans spanned from $21.09M to $483.27M, averaging $283.04M. | 918 | 2 | 497 | 3 | Their top deal closed on Dec 18, 2025, providing $483.27M to Vaya Development for rehab construction at 307 East 117th Street, 1980 Lexington Avenue, 1940 Lexington Avenue, 110 East 129th Street, 131 St Nicholas Avenue, and others (MANHATTAN). |
| 7 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 7 | Deutsche Bank | Regarding deal volume (count), activity peaked in MANHATTAN (87.5%), QUEENS (12.5%). For dollar volume, the focus was MANHATTAN (85.5%), QUEENS (14.5%). Transaction sizes ranged from $41.00M up to $320.00M, with an average of $145.64M. | 870 | 6 | 295 | 2 | The largest transaction was a $320.00M rehab construction loan for 110 Maiden Lane in MANHATTAN, issued to Bushburg Properties on Jul 29, 2025. |
| 8 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 8 | Corebridge Financial | Regarding deal volume (count), activity peaked in MANHATTAN (100.0%). For dollar volume, the focus was MANHATTAN (100.0%). Transaction sizes ranged from $225.00M up to $575.31M, with an average of $400.15M. | 800 | 2 | 0 | 0 | Funding RXR Realty|Apollo Global Management|SL Green Realty with $575.31M for rehab construction at 592 7th Avenue in MANHATTAN on Jun 09, 2025 was their biggest play. |
| 9 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 9 | NYS Housing Finance Agency | The firm saw its highest deal volume (count) in BROOKLYN (50.0%), BRONX (25.0%), whereas dollar volume was concentrated in BROOKLYN (61.1%), BRONX (19.8%). Their loan portfolio averaged $121.34M, ranging from $18.42M to $326.32M. | 797 | 8 | 1,140 | 8 | The largest transaction was a $326.32M new construction loan for N/A Fountain Avenue, N/A Erskine Street, and N/A Fountain Avenue in BROOKLYN, issued to L+M Development Partners|Merchants Capital on Dec 20, 2024. |
| 10 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 10 | Valley National Bank | The firm saw its highest deal volume (count) in BROOKLYN (47.4%), MANHATTAN (42.1%), whereas dollar volume was concentrated in MANHATTAN (51.4%), BROOKLYN (35.4%). Their loan portfolio averaged $65.31M, ranging from $8.00M to $210.00M. | 567 | 11 | 674 | 8 | The largest transaction was a $210.00M new construction loan for 1440 Amsterdam Avenue in MANHATTAN, issued to Artimus on May 09, 2024. |
| 11 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 11 | Popular Bank | Regarding deal volume (count), activity peaked in BROOKLYN (44.4%), BRONX (27.8%). For dollar volume, the focus was BROOKLYN (36.8%), QUEENS (29.3%). Transaction sizes ranged from $5.53M up to $68.00M, with an average of $25.88M. | 566 | 19 | 366 | 17 | The largest transaction was a $68.00M new construction loan for 89-12 162nd Street in QUEENS, issued to Vaja Group on Oct 27, 2025. |
| 12 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 12 | Bank Hapoalim | Regarding deal volume (count), activity peaked in BROOKLYN (50.0%), MANHATTAN (40.0%). For dollar volume, the focus was MANHATTAN (51.3%), BROOKLYN (45.7%). Transaction sizes ranged from $21.00M up to $177.50M, with an average of $84.16M. | 523 | 6 | 319 | 4 | On Mar 08, 2024, they backed Naftali Group with $177.50M for 2326 Broadway in MANHATTAN for a new construction project. |
| 13 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 13 | Ponce Bank | Regarding deal volume (count), activity peaked in BROOKLYN (51.9%), QUEENS (37.0%). For dollar volume, the focus was BROOKLYN (51.6%), QUEENS (39.2%). Transaction sizes ranged from $7.20M up to $70.00M, with an average of $29.63M. | 517 | 15 | 283 | 12 | Funding Aron Schwartz with $70.00M for new construction at 2685 Atlantic Avenue, 149 New Jersey Avenue, 2669 Atlantic Avenue, 2677 Atlantic Avenue, 154 Vermont Street, and others in BROOKLYN on Dec 03, 2025 was their biggest play. |
| 14 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 14 | Webster Bank | By deal volume (count), BRONX (46.7%), MANHATTAN (33.3%) represented the bulk of activity; BRONX (46.9%), MANHATTAN (38.1%) captured the most dollar volume. The group maintained a range of $21.51M to $159.66M, averaging $55.49M. | 514 | 9 | 318 | 6 | On Dec 01, 2025, they backed Highbridge Community Development Corporation with $159.66M for 115 West 172nd Street, 1360 Merriam Avenue, 1410 Nelson Avenue, 1406 Merriam Avenue, 1455 Jesup Avenue, and others in BRONX for a rehab construction project. |
| 15 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 15 | Apollo Global Management | Only one deal. | 450 | 1 | 102 | 1 | The largest transaction was a $450.00M rehab construction loan for 111 Wall Street in MANHATTAN, issued to InterVest Capital Partners|Metro Loft Management on Dec 18, 2025. |
| 16 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 16 | Goldman Sachs | By deal volume (count), MANHATTAN (80.0%), QUEENS (20.0%) represented the bulk of activity; QUEENS (50.8%), MANHATTAN (49.2%) captured the most dollar volume. The group maintained a range of $30.00M to $312.00M, averaging $122.80M. | 417 | 3 | 197 | 2 | On Dec 23, 2025, they backed L+M Development Partners with $312.00M for 3527 Shore Front Parkway, 38-59 Shore Front Parkway, N/A Beach 35th Street, and 173 Beach 38th Street in QUEENS for a new construction project. |
| 17 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 17 | TD Bank | The firm saw its highest deal volume (count) in BRONX (42.9%), MANHATTAN (28.6%), whereas dollar volume was concentrated in BRONX (43.5%), MANHATTAN (32.8%). Their loan portfolio averaged $76.12M, ranging from $17.67M to $128.47M. | 415 | 5 | 118 | 2 | Funding Mega Contracting Group|Community Access with $128.47M for new construction at 521 East Tremont Avenue in BRONX on Dec 11, 2025 was their biggest play. |
| 18 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 18 | TYKO Capital | Lending activity was most frequent in MANHATTAN (75.0%), BROOKLYN (25.0%) by deal volume (count), while dollar volume was led by MANHATTAN (80.4%), BROOKLYN (19.6%). Loans spanned from $88.00M to $322.43M, averaging $178.86M. | 410 | 2 | 305 | 2 | On Dec 15, 2025, they backed Extell Development with $322.43M for 653 Madison Avenue, 39 East 60th Street, 37 East 60th Street, 34 East 61st Street, and 35 East 60th Street in MANHATTAN for a new construction project. |
| 19 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 19 | G4 Capital Partners | Lending activity was most frequent in BROOKLYN (50.0%), MANHATTAN (50.0%) by deal volume (count), while dollar volume was led by MANHATTAN (52.6%), BROOKLYN (47.4%). Loans spanned from $117.00M to $228.00M, averaging $181.88M. | 383 | 2 | 345 | 2 | Funding Rabsky Group with $228.00M for new construction at 395 Carroll St, 325 Bond Street, and DEMAPPED Fka President Street in BROOKLYN on May 23, 2024 was their biggest play. |
| 20 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 20 | Kayne Anderson | Only one deal. | 375 | 1 | 0 | 0 | Their top deal closed on Aug 25, 2025, providing $375.00M to Alloy Development|Vistria Group for new construction at 372 Schermerhorn Street, 372 Schermerhorn Street, 372 Schermerhorn Street, 372 Schermerhorn Street, 475 State Street, and others (BROOKLYN |
| 21 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 21 | Barings | Only one deal. | 326 | 1 | 0 | 0 | On Dec 22, 2025, they backed Yellowstone Real Estate Investments with $326.00M for 440 West 57th Street in MANHATTAN for a rehab construction project. |
| 22 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 22 | NYC Department of Housing Preservation and Development | By deal volume (count), BROOKLYN (46.7%), BRONX (33.3%) represented the bulk of activity; BROOKLYN (63.7%), BRONX (31.0%) captured the most dollar volume. The group maintained a range of $9.04M to $217.36M, averaging $67.79M. | 319 | 6 | 697 | 9 | Funding Gotham Organization|Christian Cultural Center|Monadnock Development with $217.36M for new construction at 30 Inspiration Lane in BROOKLYN on Mar 27, 2024 was their biggest play. |
| 23 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 23 | Eldridge | By deal volume (count), MANHATTAN (100.0%) represented the bulk of activity; MANHATTAN (100.0%) captured the most dollar volume. The group maintained a range of $150.00M to $155.00M, averaging $152.50M. | 305 | 2 | 0 | 0 | Their top deal closed on Sep 30, 2025, providing $155.00M to Legion Investment Group for new construction at 550 West 21st Street (MANHATTAN). |
| 24 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 24 | U.S. Bank | Regarding deal volume (count), activity peaked in BROOKLYN (100.0%). For dollar volume, the focus was BROOKLYN (100.0%). Transaction sizes ranged from $127.61M up to $175.00M, with an average of $151.30M. | 303 | 2 | 0 | 0 | Funding Monadnock Development with $175.00M for new construction at 155 3rd Street in BROOKLYN on Nov 14, 2025 was their biggest play. |
| 25 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 25 | JPMorgan Chase | The firm saw its highest deal volume (count) in MANHATTAN (46.7%), BRONX (20.0%), whereas dollar volume was concentrated in MANHATTAN (36.6%), QUEENS (30.7%). Their loan portfolio averaged $93.92M, ranging from $7.99M to $425.00M. | 247 | 4 | 1,160 | 11 | Their top deal closed on Nov 21, 2024, providing $425.00M to New York City Football Club|Related Companies|Sterling Equities for new construction at 126-02 35th Avenue and 37-11 126th Street (QUEENS). |
| 26 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 26 | Axos Bank | The firm saw its highest deal volume (count) in QUEENS (40.0%), MANHATTAN (40.0%), whereas dollar volume was concentrated in QUEENS (46.7%), MANHATTAN (36.6%). Their loan portfolio averaged $95.60M, ranging from $54.00M to $169.00M. | 244 | 2 | 234 | 3 | Funding Innovo Property Group with $169.00M for new construction at 28-90 Review Avenue in QUEENS on Feb 05, 2025 was their biggest play. |
| 27 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 27 | NorthEast Community Bank | The firm saw its highest deal volume (count) in BRONX (100.0%), whereas dollar volume was concentrated in BRONX (100.0%). Their loan portfolio averaged $16.23M, ranging from $6.79M to $34.80M. | 236 | 14 | 218 | 14 | Funding Joel Wieder with $34.80M for new construction at 2047 Ryer Avenue in BRONX on Mar 26, 2024 was their biggest play. |
| 28 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 28 | Blackstone Group | Only one deal. | 221 | 1 | 0 | 0 | On Jun 25, 2025, they backed Baron Property Group with $221.20M for 30-25 Queens Boulevard in QUEENS for a new construction project. |
| 29 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 29 | BridgeCity Capital | By deal volume (count), BROOKLYN (60.0%), QUEENS (30.0%) represented the bulk of activity; BROOKLYN (51.1%), QUEENS (37.3%) captured the most dollar volume. The group maintained a range of $5.75M to $72.00M, averaging $26.76M. | 212 | 7 | 56 | 3 | The largest transaction was a $72.00M new construction loan for 236 Gold Street, 242 Gold Street, 246 Gold Street, and 244 Gold Street in BROOKLYN, issued to Joel Schwartz on Dec 18, 2025. |
| 30 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 30 | Broadview Capital | By deal volume (count), BROOKLYN (44.0%), BRONX (28.0%) represented the bulk of activity; BROOKLYN (47.6%), BRONX (24.2%) captured the most dollar volume. The group maintained a range of $5.20M to $45.00M, averaging $11.99M. | 204 | 15 | 96 | 10 | The largest transaction was a $45.00M new construction loan for 2425 Atlantic Avenue in BROOKLYN, issued to Abraham Biller on Oct 28, 2025. |
| 31 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 31 | Slate Property Group | By deal volume (count), BRONX (50.0%), BROOKLYN (33.3%) represented the bulk of activity; BROOKLYN (45.3%), BRONX (44.3%) captured the most dollar volume. The group maintained a range of $35.84M to $166.00M, averaging $112.46M. | 202 | 2 | 473 | 4 | Their top deal closed on Apr 25, 2025, providing $166.00M to Goose Property Management for new construction at 268 Bergen Street, 287 Wyckoff Street, and N/A Wyckoff Street (BROOKLYN). |
| 32 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 32 | Wells Fargo | Lending activity was most frequent in MANHATTAN (66.7%), QUEENS (33.3%) by deal volume (count), while dollar volume was led by MANHATTAN (64.0%), QUEENS (36.0%). Loans spanned from $18.89M to $120.00M, averaging $75.35M. | 191 | 3 | 487 | 6 | On Mar 21, 2024, they backed Durst Organization with $120.00M for 26-02 1st Street and 3-24 27th Avenue in QUEENS for a new construction project. |
| 33 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 33 | Community Preservation Corporation | The firm saw its highest deal volume (count) in MANHATTAN (40.0%), BRONX (20.0%), whereas dollar volume was concentrated in BROOKLYN (35.9%), QUEENS (35.4%). Their loan portfolio averaged $31.78M, ranging from $11.69M to $91.00M. | 176 | 6 | 142 | 4 | On Feb 01, 2024, they backed Artimus with $91.00M for 164 4th Avenue in BROOKLYN for a new construction project. |
| 34 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 34 | Citizens Bank | By deal volume (count), BROOKLYN (40.0%), BRONX (20.0%) represented the bulk of activity; BROOKLYN (58.0%), QUEENS (18.4%) captured the most dollar volume. The group maintained a range of $16.80M to $64.36M, averaging $42.52M. | 174 | 4 | 39 | 1 | Funding MHANY Management with $64.36M for ground up development at 477 Saratoga Avenue, 180 Grafton Street, 251 Mother Gaston Blvd, 249 Mother Gaston Blvd, 2323 Newkirk Avenue, and others in BROOKLYN on Dec 24, 2025 was their biggest play. |
| 35 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 35 | iCross Capital | Lending activity was most frequent in QUEENS (60.0%), BROOKLYN (40.0%) by deal volume (count), while dollar volume was led by QUEENS (75.3%), BROOKLYN (24.7%). Loans spanned from $12.60M to $95.29M, averaging $63.58M. | 169 | 3 | 149 | 2 | Funding ZD Jasper Realty with $95.29M for new construction at 45-40/28 Vernon Boulevard in QUEENS on Apr 24, 2025 was their biggest play. |
| 36 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 36 | Bravo Capital | By deal volume (count), BROOKLYN (50.0%), MANHATTAN (50.0%) represented the bulk of activity; BROOKLYN (77.3%), MANHATTAN (22.7%) captured the most dollar volume. The group maintained a range of $36.75M to $125.00M, averaging $80.88M. | 162 | 2 | 0 | 0 | The largest transaction was a $125.00M new construction loan for 175 Pearl Street in BROOKLYN, issued to Watermark Capital Group|Rubin Equities on Mar 11, 2025. |
| 37 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 37 | Dwight Capital | The firm saw its highest deal volume (count) in QUEENS (50.0%), MANHATTAN (50.0%), whereas dollar volume was concentrated in QUEENS (55.9%), MANHATTAN (44.1%). Their loan portfolio averaged $79.40M, ranging from $70.00M to $88.80M. | 159 | 2 | 0 | 0 | Their top deal closed on Jan 22, 2025, providing $88.80M to Moshe Braver for new construction at 94-15 Sutphin Boulevard (QUEENS). |
| 38 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 38 | Kennedy Wilson | Only one deal. | 159 | 1 | 305 | 2 | Their top deal closed on Apr 03, 2025, providing $158.50M to Sioni Group for new construction at 989 Sixth Avenue and 1352 Broadway (MANHATTAN). |
| 39 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 39 | Crum & Forster | Only one deal. | 159 | 1 | 150 | 1 | Their top deal closed on Apr 03, 2025, providing $158.50M to Sioni Group for new construction at 989 Sixth Avenue and 1352 Broadway (MANHATTAN). |
| 40 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 40 | OdysseyRe | Only one deal. | 159 | 1 | 0 | 0 | On Apr 03, 2025, they backed Sioni Group with $158.50M for 989 Sixth Avenue and 1352 Broadway in MANHATTAN for a new construction project. |
| 41 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 41 | Maxim Capital Group | By deal volume (count), MANHATTAN (80.0%), QUEENS (20.0%) represented the bulk of activity; MANHATTAN (62.2%), QUEENS (37.8%) captured the most dollar volume. The group maintained a range of $17.00M to $117.50M, averaging $60.80M. | 159 | 3 | 146 | 2 | On Sep 04, 2024, they backed ZD Jasper Realty with $117.50M for 430 West 37th Street in MANHATTAN for a new construction project. |
| 42 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 42 | Citibank | Lending activity was most frequent in BRONX (50.0%), BROOKLYN (25.0%) by deal volume (count), while dollar volume was led by BRONX (72.4%), MANHATTAN (25.3%). Loans spanned from $13.12M to $269.98M, averaging $141.36M. | 153 | 2 | 413 | 2 | Funding Samaritan Daytop Village with $269.98M for new construction at 1387 University Avenue in BRONX on Jun 26, 2024 was their biggest play. |
| 43 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 43 | Farallon Capital Management | The firm saw its highest deal volume (count) in BROOKLYN (66.7%), MANHATTAN (33.3%), whereas dollar volume was concentrated in MANHATTAN (81.5%), BROOKLYN (18.5%). Their loan portfolio averaged $265.49M, ranging from $64.11M to $648.96M. | 148 | 2 | 649 | 1 | Funding Atlas Capital Group|Baupost Group|Zeckendorf Development with $648.96M for new construction at 80 Clarkson Street in MANHATTAN on Jul 29, 2024 was their biggest play. |
| 44 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 44 | Build NYC Resource Corporation | By deal volume (count), BRONX (60.0%), BROOKLYN (20.0%) represented the bulk of activity; BRONX (72.1%), MANHATTAN (19.2%) captured the most dollar volume. The group maintained a range of $33.40M to $150.00M, averaging $77.29M. | 141 | 2 | 245 | 3 | Their top deal closed on Nov 01, 2024, providing $150.00M to Success Academy Charter Schools for new construction at 580 River Avenue (BRONX). |
| 45 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 45 | UMB Bank | Regarding deal volume (count), activity peaked in BROOKLYN (66.7%), QUEENS (33.3%). For dollar volume, the focus was BROOKLYN (63.5%), QUEENS (36.5%). Transaction sizes ranged from $66.40M up to $79.20M, with an average of $72.36M. | 138 | 2 | 79 | 1 | The largest transaction was a $79.20M new construction loan for 133-04 39th Avenue in QUEENS, issued to Asian Americans For Equality on Feb 20, 2024. |
| 46 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 46 | First Citizens Bank | Lending activity was most frequent in MANHATTAN (50.0%), QUEENS (50.0%) by deal volume (count), while dollar volume was led by MANHATTAN (50.5%), QUEENS (49.5%). Loans spanned from $66.10M to $67.50M, averaging $66.80M. | 134 | 2 | 0 | 0 | On Feb 05, 2025, they backed Naftali Group with $67.50M for 307 3rd Avenue in MANHATTAN for a new construction project. |
| 47 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 47 | BDT & MSD Partners | Only one deal. | 125 | 1 | 223 | 1 | Their top deal closed on Dec 20, 2024, providing $222.84M to GFP Real Estate|TPG Real Estate Partners for rehab construction at 222 Broadway (MANHATTAN). |
| 48 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 48 | IceCap Group | Regarding deal volume (count), activity peaked in BRONX (69.2%), BROOKLYN (30.8%). For dollar volume, the focus was BRONX (69.0%), BROOKLYN (31.0%). Transaction sizes ranged from $5.10M up to $18.00M, with an average of $9.66M. | 113 | 12 | 12 | 1 | Funding Israel Hirsch|Chayim Rosenfeld with $18.00M for new construction at 1718 Crotona Park East in BRONX on Jun 16, 2025 was their biggest play. |
| 49 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 49 | Related Companies | Only one deal. | 107 | 1 | 0 | 0 | The largest transaction was a $107.10M new construction loan for 255 West 34th Street in MANHATTAN, issued to Maverick Real Estate Partners on Apr 07, 2025. |
| 50 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 50 | NYS Homeless Housing and Assistance Corporation | Regarding deal volume (count), activity peaked in MANHATTAN (37.5%), BRONX (37.5%). For dollar volume, the focus was BRONX (51.3%), MANHATTAN (26.6%). Transaction sizes ranged from $18.42M up to $73.99M, with an average of $42.40M. | 98 | 3 | 241 | 5 | The largest transaction was a $73.99M new construction loan for 3663 White Plains Road in BRONX, issued to WellLife Network|Richman Group on Oct 24, 2024. |
| 51 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 51 | Israel Discount Bank | The firm saw its highest deal volume (count) in BROOKLYN (50.0%), MANHATTAN (33.3%), whereas dollar volume was concentrated in BROOKLYN (47.4%), MANHATTAN (39.5%). Their loan portfolio averaged $19.54M, ranging from $6.80M to $32.00M. | 92 | 5 | 25 | 1 | On Jun 20, 2025, they backed Jenel Real Estate with $32.00M for 540 Fulton Street and 540 Fulton Street in BROOKLYN for a rehab construction project. |
| 52 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 52 | Bank of America | The firm saw its highest deal volume (count) in MANHATTAN (50.0%), BROOKLYN (33.3%), whereas dollar volume was concentrated in MANHATTAN (72.6%), QUEENS (15.4%). Their loan portfolio averaged $44.79M, ranging from $15.00M to $100.00M. | 90 | 2 | 179 | 4 | The largest transaction was a $100.00M additional construction loan for 1 Madison Avenue in MANHATTAN, issued to SL Green Realty|Hines|National Pension Service of Korea on Aug 19, 2024. |
| 53 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 53 | Bank OZK | Lending activity was most frequent in MANHATTAN (80.0%), BROOKLYN (20.0%) by deal volume (count), while dollar volume was led by BROOKLYN (61.3%), MANHATTAN (38.7%). Loans spanned from $40.00M to $321.00M, averaging $104.70M. | 88 | 2 | 436 | 3 | Funding Naftali Group with $321.00M for new construction at N/A Kent Avenue in BROOKLYN on Mar 01, 2024 was their biggest play. |
| 54 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 54 | BMO Bank | The firm saw its highest deal volume (count) in MANHATTAN (50.0%), BRONX (50.0%), whereas dollar volume was concentrated in MANHATTAN (70.2%), BRONX (29.8%). Their loan portfolio averaged $40.31M, ranging from $23.98M to $56.63M. | 81 | 2 | 0 | 0 | Funding Trammell Crow Company with $56.63M for new construction at 126 Lafayette Street in MANHATTAN on Sep 05, 2025 was their biggest play. |
| 55 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 55 | Fortress Investment Group | Only one deal. | 72 | 1 | 0 | 0 | Funding Sentry Realty|60 Guilders with $72.00M for rehab construction at 1372 Broadway in MANHATTAN on Jan 16, 2025 was their biggest play. |
| 56 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 56 | Metropolitan Commercial Bank | Regarding deal volume (count), activity peaked in BRONX (50.0%), MANHATTAN (25.0%). For dollar volume, the focus was QUEENS (48.2%), BRONX (27.7%). Transaction sizes ranged from $14.25M up to $55.00M, with an average of $28.54M. | 69 | 2 | 45 | 2 | The largest transaction was a $55.00M new construction loan for N/A 135th Avenue in QUEENS, issued to McSam Hotel Group on Oct 24, 2025. |
| 57 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 57 | Capital Impact Partners | Only one deal. | 67 | 1 | 0 | 0 | Their top deal closed on May 29, 2025, providing $66.71M to Civic Builders|Bold Charter School for new construction at 1472 Boston Road (BRONX). |
| 58 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 58 | New York City Regional Center | Only one deal. | 67 | 1 | 0 | 0 | Funding Civic Builders|Bold Charter School with $66.71M for new construction at 1472 Boston Road in BRONX on May 29, 2025 was their biggest play. |
| 59 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 59 | Castellan Capital | By deal volume (count), MANHATTAN (50.0%), BROOKLYN (50.0%) represented the bulk of activity; MANHATTAN (52.6%), BROOKLYN (47.4%) captured the most dollar volume. The group maintained a range of $6.52M to $31.00M, averaging $17.84M. | 65 | 3 | 7 | 1 | Their top deal closed on Jul 24, 2025, providing $31.00M to United American Land for rehab construction at 83 Chambers Street and 85 Chambers Street (MANHATTAN). |
| 60 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 60 | ACRES Capital | Only one deal. | 65 | 1 | 0 | 0 | The largest transaction was a $64.75M new construction loan for 90-32 Queens Boulevard in QUEENS, issued to Cord Meyer Development on Jul 01, 2025. |
| 61 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 61 | Integritas Capital | Only one deal. | 63 | 1 | 0 | 0 | On Sep 18, 2025, they backed Borough Developers|Watermark Capital Group with $63.00M for 75 4th Avenue, 73 4th Avenue, 71 4th Avenue, 69 4th Avenue, 67 4th Avenue, and others in BROOKLYN for a new construction project. |
| 62 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 62 | Kriss Capital | Lending activity was most frequent in MANHATTAN (50.0%), QUEENS (25.0%) by deal volume (count), while dollar volume was led by MANHATTAN (87.3%), QUEENS (7.4%). Loans spanned from $12.75M to $180.00M, averaging $60.69M. | 63 | 3 | 180 | 1 | The largest transaction was a $180.00M new construction loan for 34 East 35th Street, 32 East 35th Street, 30 East 35th Street, 28 East 35th Street, and 26 East 35th Street in MANHATTAN, issued to Continuum Company on Oct... |
| 63 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 63 | Urban Standard Capital | Only one deal. | 62 | 1 | 5 | 1 | On May 27, 2025, they backed Hung Pin Hung with $61.70M for 842 6th Avenue in MANHATTAN for a new construction project. |
| 64 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 64 | Greystone & Co. | By deal volume (count), BROOKLYN (50.0%), BRONX (50.0%) represented the bulk of activity; BROOKLYN (60.3%), BRONX (39.7%) captured the most dollar volume. The group maintained a range of $23.95M to $36.40M, averaging $30.18M. | 60 | 2 | 0 | 0 | Funding Simon Kaufman|Jacob Schwimmer with $36.40M for new construction at 159 Third Avenue in BROOKLYN on Feb 26, 2025 was their biggest play. |
| 65 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 65 | Affinius Capital | Only one deal. | 60 | 1 | 94 | 1 | Their top deal closed on Dec 13, 2024, providing $93.70M to Goose Property Management for new construction at 358-376 Livingston Street and 60 Flatbush Avenue (BROOKLYN). |
| 66 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 66 | OakNorth Bank | Lending activity was most frequent in MANHATTAN (66.7%), BROOKLYN (33.3%) by deal volume (count), while dollar volume was led by MANHATTAN (56.3%), BROOKLYN (43.7%). Loans spanned from $10.39M to $50.20M, averaging $35.86M. | 57 | 2 | 50 | 1 | The largest transaction was a $50.20M new construction loan for 152 West 36th Street in MANHATTAN, issued to Mequity Companies|Flatiron Equities on Sep 09, 2024. |
| 67 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 67 | Preferred Bank | Lending activity was most frequent in BROOKLYN (60.0%), QUEENS (40.0%) by deal volume (count), while dollar volume was led by BROOKLYN (55.6%), QUEENS (44.4%). Loans spanned from $7.15M to $33.04M, averaging $19.86M. | 55 | 2 | 44 | 3 | On Jun 20, 2025, they backed McSam Hotel Group with $33.04M for N/A 135th Avenue in QUEENS for a rehab construction project. |
| 68 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 68 | Dime Community Bank | The firm saw its highest deal volume (count) in BROOKLYN (33.3%), BRONX (33.3%), whereas dollar volume was concentrated in QUEENS (43.6%), BRONX (33.2%). Their loan portfolio averaged $23.76M, ranging from $16.50M to $31.09M. | 55 | 2 | 17 | 1 | Funding Transitional Services For New York with $31.09M for new construction at 88-49 163rd Street in QUEENS on Jun 27, 2025 was their biggest play. |
| 69 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 69 | Levon Capital | The firm saw its highest deal volume (count) in BROOKLYN (77.8%), BRONX (22.2%), whereas dollar volume was concentrated in BROOKLYN (80.7%), BRONX (19.3%). Their loan portfolio averaged $14.43M, ranging from $5.25M to $29.50M. | 54 | 5 | 76 | 4 | On Jul 30, 2024, they backed Guardian Realty Management with $29.50M for 15 Parkville Avenue in BROOKLYN for a new construction project. |
| 70 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 70 | NYS Dormitory Authority | Lending activity was most frequent in MANHATTAN (50.0%), QUEENS (50.0%) by deal volume (count), while dollar volume was led by QUEENS (79.3%), MANHATTAN (20.7%). Loans spanned from $8.10M to $31.09M, averaging $19.60M. | 52 | 2 | 8 | 1 | On Jun 27, 2025, they backed Transitional Services For New York with $31.09M for 88-49 163rd Street in QUEENS for a new construction project. |
| 71 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 71 | Lorimer Capital | Only one deal. | 51 | 1 | 0 | 0 | On Aug 22, 2025, they backed Double U Realty with $51.00M for 29 Wythe Avenue in BROOKLYN for a new construction project. |
| 72 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 72 | Capital One | Only one deal. | 49 | 1 | 0 | 0 | Their top deal closed on May 16, 2025, providing $48.89M to New Destiny Housing Corporation for new construction at 1139 Webster Avenue (BRONX). |
| 73 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 73 | Oak Funding | Lending activity was most frequent in BRONX (50.0%), BROOKLYN (50.0%) by deal volume (count), while dollar volume was led by BRONX (55.6%), BROOKLYN (44.4%). Loans spanned from $20.00M to $25.00M, averaging $22.50M. | 45 | 2 | 0 | 0 | On Jul 17, 2025, they backed Watermark Capital Group with $25.00M for 1723 Boston Road in BRONX for a new construction project. |
| 74 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 74 | Colorado Federal Savings Bank | Lending activity was most frequent in BROOKLYN (83.3%), QUEENS (16.7%) by deal volume (count), while dollar volume was led by BROOKLYN (76.1%), QUEENS (23.9%). Loans spanned from $5.50M to $21.50M, averaging $10.72M. | 43 | 5 | 22 | 1 | Their top deal closed on Jan 11, 2024, providing $21.50M to United Elite Group for new construction at 408 Lefferts Avenue and 461 East New York Avenue (BROOKLYN). |
| 75 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 75 | Derby Copeland Capital | Lending activity was most frequent in MANHATTAN (75.0%), BROOKLYN (25.0%) by deal volume (count), while dollar volume was led by MANHATTAN (89.4%), BROOKLYN (10.6%). Loans spanned from $6.85M to $33.00M, averaging $16.09M. | 42 | 2 | 23 | 2 | On Mar 14, 2025, they backed Arcus Development with $33.00M for 220 East 9th Street in MANHATTAN for a new construction project. |
| 76 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 76 | Fairbridge Asset Management | By deal volume (count), BROOKLYN (100.0%) represented the bulk of activity; BROOKLYN (100.0%) captured the most dollar volume. The group maintained a range of $6.10M to $34.50M, averaging $20.30M. | 41 | 2 | 0 | 0 | Their top deal closed on Dec 31, 2025, providing $34.50M to Royal Builders for new construction at 1515 Emmons Avenue and 1505 Emmons Avenue (BROOKLYN). |
| 77 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 77 | National Bank of Canada | Lending activity was most frequent in QUEENS (66.7%), BROOKLYN (33.3%) by deal volume (count), while dollar volume was led by QUEENS (72.2%), BROOKLYN (27.8%). Loans spanned from $10.97M to $16.08M, averaging $13.16M. | 39 | 3 | 0 | 0 | Their top deal closed on Jun 26, 2025, providing $16.08M to Soltage for new construction at 46-10 53rd Avenue (QUEENS). |
| 78 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 78 | Industrial and Commercial Bank of China | Only one deal. | 38 | 1 | 0 | 0 | On Feb 27, 2025, they backed Jasmin Patel with $38.00M for 319-321 West 38th Street in MANHATTAN for a new construction project. |
| 79 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 79 | Bank of Princeton | Lending activity was most frequent in BROOKLYN (66.7%), BRONX (33.3%) by deal volume (count), while dollar volume was led by BROOKLYN (67.3%), BRONX (32.7%). Loans spanned from $11.15M to $24.01M, averaging $17.41M. | 35 | 2 | 17 | 1 | On Jun 26, 2025, they backed Bruchy Lefkowitz with $24.01M for 861 Park Avenue in BROOKLYN for a new construction project. |
| 80 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 80 | Klirmark Capital | Only one deal. | 32 | 1 | 0 | 0 | On Feb 27, 2025, they backed Prosper Property Group|Urban Capital Group with $32.00M for 34 Walker Street and 32 Walker Street in MANHATTAN for a rehab construction project. |
| 81 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 81 | Local Initiatives Support Corporation | By deal volume (count), BROOKLYN (57.1%), MANHATTAN (42.9%) represented the bulk of activity; MANHATTAN (56.4%), BROOKLYN (43.6%) captured the most dollar volume. The group maintained a range of $13.48M to $43.23M, averaging $22.25M. | 30 | 2 | 125 | 5 | On Feb 06, 2024, they backed CB-Emmanuel Realty with $43.23M for 102 W 119th Street, 1971 7th Avenue, 128 W 116th Street, and 110 Lenox Avenue in MANHATTAN for a rehab construction project. |
| 82 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 82 | Parke Bank | By deal volume (count), BROOKLYN (100.0%) represented the bulk of activity; BROOKLYN (100.0%) captured the most dollar volume. The group maintained a range of $7.42M to $16.86M, averaging $10.59M. | 30 | 3 | 34 | 3 | Funding Beitel Group with $16.86M for new construction at 1547 60th Street in BROOKLYN on Jun 06, 2024 was their biggest play. |
| 83 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 83 | EastAlliance Partners | Only one deal. | 29 | 1 | 0 | 0 | Funding Moses Karpen with $29.05M for new construction at 691 Broadway in BROOKLYN on Nov 14, 2025 was their biggest play. |
| 84 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 84 | Cross River Bank | Only one deal. | 28 | 1 | 46 | 2 | On Dec 18, 2024, they backed TOT Developers|Yisroel Landau|Jacob Landau with $36.50M for 2246 Fulton Street in BROOKLYN for a new construction project. |
| 85 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 85 | Cathay Bank | Regarding deal volume (count), activity peaked in QUEENS (50.0%), BROOKLYN (25.0%). For dollar volume, the focus was QUEENS (55.8%), BROOKLYN (25.2%). Transaction sizes ranged from $9.50M up to $15.10M, with an average of $12.46M. | 28 | 2 | 22 | 2 | On Jun 06, 2025, they backed Montperia Group|JLS Group Construction with $15.10M for 42-53 27th Street, 42-76 Hunter Street, 42-55 27th Street, and 42-74 Hunter Street in QUEENS for a new construction project. |
| 86 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 86 | Axonic Capital | Only one deal. | 25 | 1 | 0 | 0 | Their top deal closed on Jul 24, 2025, providing $25.00M to HERA Hospitality Property for rehab construction at 60 East 54th Street (MANHATTAN). |
| 87 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 87 | Cain International | Only one deal. | 20 | 1 | 50 | 1 | Their top deal closed on Jun 20, 2024, providing $50.00M to Extell Development for new construction at 1524 1st Avenue (MANHATTAN). |
| 88 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 88 | Canadian Imperial Bank of Commerce | Only one deal. | 20 | 1 | 0 | 0 | On Sep 09, 2025, they backed Rester Management with $19.62M for 18 West 116th Street in MANHATTAN for a new construction project. |
| 89 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 89 | M&T Bank | Only one deal. | 18 | 1 | 15 | 1 | Funding Jericho Project with $18.42M for rehab construction at 2013 Adam Clayton Powell Jr Blvd in MANHATTAN on Jan 31, 2025 was their biggest play. |
| 90 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 90 | Self-Help Credit Union | Only one deal. | 18 | 1 | 0 | 0 | Their top deal closed on Apr 09, 2025, providing $18.34M to Azimuth Development Group for new construction at 200 West Tremont Avenue (BRONX). |
| 91 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 91 | MidFirst Bank | By deal volume (count), BROOKLYN (66.7%), QUEENS (33.3%) represented the bulk of activity; BROOKLYN (64.9%), QUEENS (35.1%) captured the most dollar volume. The group maintained a range of $5.84M to $6.40M, averaging $6.08M. | 18 | 3 | 0 | 0 | Funding Renovation Group with $6.40M for new construction at 51-09 2nd Street in QUEENS on Oct 06, 2025 was their biggest play. |
| 92 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 92 | PSG Lending | Only one deal. | 18 | 1 | 0 | 0 | The largest transaction was a $18.17M new construction loan for 2616 Cropsey Avenue in BROOKLYN, issued to Leonid Bogomolniy on Aug 07, 2025. |
| 93 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 93 | SME Capital Ventures | Only one deal. | 18 | 1 | 29 | 2 | The largest transaction was a $17.50M new construction loan for 44-46 West 8th Street in MANHATTAN, issued to T30 Capital on May 02, 2025. |
| 94 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 94 | Bullpath Capital | Regarding deal volume (count), activity peaked in BROOKLYN (66.7%), MANHATTAN (33.3%). For dollar volume, the focus was BROOKLYN (67.3%), MANHATTAN (32.7%). Transaction sizes ranged from $5.20M up to $5.50M, with an average of $5.30M. | 16 | 3 | 0 | 0 | The largest transaction was a $5.50M rehab construction loan for 362 Clinton Street in BROOKLYN, issued to Minerva Development on Aug 18, 2025. |
| 95 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 95 | Corporation for Supportive Housing | Only one deal. | 15 | 1 | 0 | 0 | On Jun 26, 2025, they backed Jericho Project|Vertical Community Development with $14.81M for 415 East 148th Street, N/A Bergen Avenue, 421 East 148th Street, 423 East 148th Street, and 427 East 148th Street in BRONX for a rehab construction project. |
| 96 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 96 | LendingClub Bank | Only one deal. | 14 | 1 | 0 | 0 | On Aug 25, 2025, they backed Jose Espinal with $14.34M for 870 East 180th Street in BRONX for a new construction project. |
| 97 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 97 | BX Capital | Lending activity was most frequent in BRONX (100.0%) by deal volume (count), while dollar volume was led by BRONX (100.0%). Loans spanned from $6.00M to $6.70M, averaging $6.35M. | 13 | 2 | 0 | 0 | On Jul 14, 2025, they backed Isreal Chaim Hirsch|Chayin Rosenfeld with $6.70M for 1679 Eastburn Avenue and 1677 Eastburn Avenue in BRONX for a new construction project. |
| 98 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 98 | Ion Bank | The firm saw its highest deal volume (count) in QUEENS (100.0%), whereas dollar volume was concentrated in QUEENS (100.0%). Their loan portfolio averaged $5.50M, ranging from $5.50M to $5.50M. | 11 | 2 | 0 | 0 | On Aug 22, 2025, they backed Jin Woo Park with $5.50M for 83-68 117th Street in QUEENS for a new construction project. |
| 99 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 99 | 360 Capital Funding | Only one deal. | 10 | 1 | 0 | 0 | Funding David Wei Huang with $10.45M for new construction at 153-33 89th Avenue in QUEENS on Mar 04, 2025 was their biggest play. |
| 100 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 100 | Northfield Bank | Only one deal. | 10 | 1 | 0 | 0 | Their top deal closed on Nov 25, 2025, providing $10.00M to Yeshiva Imrei Chaim Viznitz Of Boro Park for new construction at 931 41st Street (BROOKLYN). |
| 101 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 101 | Rivington Company | Only one deal. | 10 | 1 | 0 | 0 | The largest transaction was a $9.70M rehab construction loan for 81 Beaver Street in BROOKLYN, issued to Rivington Company on Apr 02, 2025. |
| 102 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 102 | Raza Development Fund | Only one deal. | 9 | 1 | 0 | 0 | Funding LEEP Dual Lanaguage Academy Charter School with $9.27M for new construction at 5313 5th Avenue in BROOKLYN on Jan 15, 2025 was their biggest play. |
| 103 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 103 | Golden Bridge Funding | Only one deal. | 9 | 1 | 33 | 1 | Their top deal closed on Mar 25, 2024, providing $33.00M to Aron Schwartz for new construction at 81 New Jersey and 2667 Fulton Street (BROOKLYN). |
| 104 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 104 | Alpha Real Estate Funding | Only one deal. | 9 | 1 | 0 | 0 | Their top deal closed on Oct 21, 2025, providing $8.57M to MZS Realty for new construction at 882 Morris Avenue (BRONX). |
| 105 | acris | 05/12/2026 09:59 AM | acris | 05/12/2026 09:59 AM | 105 | Spring Garden Capital Group | Only one deal. | 8 | 1 | 0 | 0 | Their top deal closed on Sep 30, 2025, providing $8.00M to Pyotr Yadgarov for new construction at 249 Brighton Beach Avenue (BROOKLYN). |
| Rank | Company | Lending Activity Summary | 2025 Total | 2025 Count | 2024 Total | 2024 Count | Largest Deal Summary |
Rounding out the top four private lenders by dollar volume was Deutsche Bank, which recorded $870 million in construction lending in 2025. This was a significant increase from their 2024 total of $295.10 million. Deutsche Bank focused almost exclusively on Manhattan, where 87.5 percent of its deals were located. Their largest commitment was a $320 million rehab construction loan for 110 Maiden Lane, issued to Bushburg Properties in July 2025. The bank’s strategy appeared to favor institutional-grade borrowers and large-scale redevelopment projects over the smaller ground-up builds favored by the regional players.
In terms of transaction frequency—the number of individual loans closed—the rankings were dominated by S3 Capital, Popular Bank, Ponce Bank, and Valley National Bank. Following S3 Capital’s 29 deals, Popular Bank recorded 19 transactions in 2025 totaling $565.75 million. Popular Bank’s activity was remarkably consistent with its 2024 performance, where it closed 17 deals. The bank’s footprint was most visible in Brooklyn and the Bronx, though its largest single deal was a $68 million new construction loan for a project at 89-12 162nd Street in Queens, issued to the Vaja Group in October 2025.
Ponce Bank also demonstrated high velocity, closing 15 deals in 2025 for a total of $516.65 million. This was a notable increase from the 12 deals and $283.28 million recorded in 2024. Ponce Bank’s lending was heavily concentrated in Brooklyn, which represented over half of its total deal count. Their largest transaction was a $70 million new construction loan issued in December 2025 to Aron Schwartz for a multi-property development on Atlantic Avenue and Vermont Street.
Valley National Bank secured the fourth spot for deal activity, closing 11 transactions in 2025 totaling $566.78 million. Although their transaction count increased from eight deals in 2024, their total dollar volume actually saw a slight decline from the $674.12 million recorded the previous year. Valley’s lending was split almost evenly between Brooklyn and Manhattan, with an average loan size of approximately $65.31 million. Their largest play remained a $210 million loan for a project at 1440 Amsterdam Avenue in Manhattan, issued to Artimus.
The 2025 data also highlighted several new entrants and significant year-over-year shifts. Corebridge Financial was a major new presence in the construction space, recording $800.31 million in volume in 2025 after having no recorded activity in the specific construction loan types in 2024. Corebridge’s entry was defined by two massive Manhattan transactions, including a $575.31 million rehab loan for 592 7th Avenue issued to a partnership involving RXR Realty, Apollo Global Management, and SL Green Realty.
The shift in the 2025 lending landscape was particularly pronounced among institutional players who had established significant footprints the year prior, with several major names recording substantial pullbacks despite having at least two deals in 2024. JPMorgan Chase led this group with a staggering $914.86 million decline, falling from $1.16 billion across 11 deals in 2024 to just $247 million in 2025 as it reduced its primary construction exposure in Manhattan. Freddie Mac also saw a total retreat from these construction categories in 2025, a $803.20 million drop after having backed two major Bronx-based projects in 2024.
Geographically, the activity showed a clear divide. Manhattan dominated the dollar volume rankings, driven by massive conversion projects and institutional office-to-residential plays. However, Brooklyn and the Bronx remained the centers for deal velocity. Regional banks like Webster Bank, which closed 9 deals for $514.03 million, focused nearly 47 percent of their activity in the Bronx. Webster’s largest deal was a $159.66 million rehab project for Highbridge Community, covering a portfolio of properties on West 172nd Street and Merriam Avenue.
The overall trend for 2025 suggests a market where private lenders have become more comfortable with larger, more complex construction risks that were previously the domain of public-private partnerships. The surge in volume from firms like Madison Realty Capital and S3 Capital indicates a robust secondary market for construction debt, even as traditional public funding sources showed signs of moderation. As the city continues to grapple with housing shortages, the reliance on these private debt vehicles for ground-up development and large-scale rehabilitation is expected to remain a central feature of the NYC real estate economy.