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Lenders favor resi projects in big month for outer-borough loans

Kings County reigned in July as lenders pumped billions into outer-borough real estate projects.

The month’s 10 biggest loans totaled $1.8 billion, more than five times June’s total, and about twice as much as last July — closely mirroring a similar rebound in Manhattan.

Brooklyn captured seven of the month’s 10 largest commercial loans, while Queens had the other three. A couple big projects in rezoned Gowanus received construction loans, while Carlyle leveraged its Brooklyn and Queens buying spree into the month’s biggest outer-borough financing deal.

The Real Deal

Photo by Miltiadis Fragkidis on Unsplash

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