Signature Bank to rein in real estate lending as deposits falter – Robert Khodadadian

Major multifamily lender Signature Bank reported record earnings in the second quarter, but said it will roll back in its commercial real estate lending in the coming months. The primary culprits: rising interest rates and plunging crypto markets. At $339.2 million or $5.26 per share, Signature’s earnings jumped 58 percent from the same period last year as revenue surged 43 percent to $686.8 billion. But those figures masked underlying headwinds: Deposits declined after a cryptocurrency

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Commercial Real Estate, Home Page, lending, Real Estate Finance The Real Deal New York Read More