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NYC Real Estate Pros Optimistic, Yet Frustrated

NEW YORK CITY—The results of a new survey show that an overwhelming majority of industry professionals feel good about real estate, yet they see room for improvement.

By Rayna Katz | Updated on August 15, 2014

NEW YORK CITY—A new survey by Sterling National Bank, the principal subsidiary of Sterling Bancorp, shows that New York-based real estate professionals are optimistic about the future of New York City’s real estate market. Sterling’s 2014 New York Real Estate Financing Survey revealed that 96% of respondents active in the real estate industry are either very optimistic or somewhat optimistic about the state of the market overall, thanks to its unique market conditions.

At the same time, half of the respondents said they are frustrated with their current options for raising capital. This highlights a gap that could impact the industry’s growth potential, but also presents a significant opportunity for banks that can provide real estate expertise and underwriting services that include non-traditional financing methods.

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