"They're going about it in a smart way, and I expect it will continue over the next decade," Barnes said.

Although, some hiccups come along with lending on and developing properties within the tri-state area, near train lines where there are heavy regulations and a "not in my backyard" attitude. This has been the experience of Signature Bank in some Long Island submarkets where the firm was pursuing takeout financing for several transit-oriented communities, according to Joesph Finnegan, managing director and senior vice president at Signature.

While transit-oriented properties have been a focus for the three industry players, seniors housing has become something that each panelist is considering as the Baby Boomer population ages up.

Finnegan said the assisted living subset of seniors housing is jumping out all over Long Island, having seen Bristal Assisted Living, an operator of seniors housing, achieve strong occupancy for its three to four developments in the market.

And Nuveen is considering investments into the seniors housing sector because of its all-around favorable characteristics, according to Settles. "I think we're going to get involved with it," he said. "Certainly the fundamentals are there from a broader healthcare perspective, and there's plenty of healthcare subsectors to invest in."