Neiman called on the commercial real estate community to work together, and with government officials, to form what he called "critical partnerships" to get through the credit crisis. "Through healthier buildings we have healthier communities," he said in his speech at the Jacob K. Javits Convention Center, adding that the vitality of commercial real estate depends on access to credit, which lately has not been as healthy as it should.

In addition to overseeing the state's banking system, Neiman also has what he called "really a unique responsibility" as a member of the TARP Congressional Oversight Panel, appointed by House Speaker Nancy Pelosi. As part of his mission to help gauge the success of TARP, Neiman has presided over field hearings, including one on commercial lending held May 28 at New York University. With presenters including the Real Estate Roundtable's Jeffrey DeBoer and Deutsche Bank's Richard Parkus, "The data that we heard was quite sobering," Neiman said Tuesday.

Even so, Neiman said New York's community banks have told him they're continuing to lend. With less involvement in subprime lending or securitization, they're less weighed down by balance-sheet issues, and continue to follow an "originate and hold" lending model. Neiman said he's told examiners to remind banks of their responsibility to extend credit when it's prudent to do so.