Big Banks Dominate NYC Commercial Mortgage Lending
Wells Fargo and JPMorgan Chase lead city commercial loans, which shapes the buildings New Yorkers live and work in.
Updated on Nov. 7, 2026 in Commercial
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Wells Fargo led New York City commercial mortgage lending with $5.6 billion across 84 mortgages, ahead of JPMorgan Chase, which issued the most loans in the city with 774 mortgages. The Real Deal's analysis covers commercial mortgages over $10,000 recorded with the city from August 2025 onward, and traditional banks held the top five lender positions.
Why it matters
For New York City homeowners and renters, commercial lending patterns shape which buildings get refinanced, redeveloped, or sold, and that activity feeds into neighborhood rents and property values. The concentration of large deals among a few banks also shows where the city's financing capacity currently sits.
Wells Fargo's $5.6 billion came from just 84 loans, with an average of $66.2 million, while JPMorgan Chase's 774 loans totaled $3.6 billion with an average of $4.6 million. Three deals accounted for roughly 38 percent of Wells Fargo's totals, and Bank of America recorded $2.5 billion in mortgage volume.
The players
Wells Fargo
A major national bank that led New York City commercial mortgage volume in this analysis.
JPMorgan Chase
A large national bank that issued the most commercial mortgages in New York City by count.
Bank of America
A national bank that recorded $2.5 billion in New York City mortgage volume in this analysis.
The Real Deal
A real estate news publication that conducted the analysis of city-recorded commercial mortgages.
The details
The Real Deal analyzed commercial mortgages over $10,000 recorded with New York City in the year starting in August 2025. JPMorgan Chase's high loan count came largely from many loan packages involving multi-family properties, such as its $765 million refinancing of 625 Fulton Street in April. Wells Fargo's totals, by contrast, were concentrated in a small number of very large deals, which lifted its average and median loan sizes well above JPMorgan's.
Timeline
- August 2025: the year-long commercial mortgage analysis period begins.
- April: JPMorgan Chase refinances 625 Fulton Street with a $765 million loan.
The Home Front
Traditional banks held the top five positions among New York City commercial lenders in this analysis of city-recorded mortgages over $10,000. The pattern places large commercial financing for the city's buildings in the hands of a small group of established national banks.
If you own or rent in a building that has been refinanced or sold recently, the lender behind the loan can affect future renovation and refinancing options. Keep copies of your building's recorded financing documents and ask your property manager or co-op board about upcoming loan events that could affect maintenance budgets.
The takeaway
Large commercial loans in New York City are concentrated among a few banks, which can influence which buildings get financed and maintained. If your building's ownership or financing changes, ask management for a summary of any new loan terms that could affect your costs.
Further reading
For more on how big-bank lending shapes the local property market, explore Commercial coverage for New York City.
Source note: This article includes information reported by The Real Deal New York.
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