- Wells Fargo topped New York City commercial lending with $5.6 billion across 84 mortgages, and traditional banks took all of the top five spots in The Real Deal’s rankings.
- Three deals, including a BXP office financing and a Resorts World loan, made up about 38% of Wells Fargo’s volume, while JPMorgan’s lead in loan count came from smaller multifamily mortgages.
- The split shows two models in NYC lending: big-ticket office and hospitality financings versus high-volume multifamily loans, with Bank of America, Citigroup and Deutsche Bank behind them.
Wells Fargo led New York City’s top commercial lenders with $5.6 billion in mortgages, and conventional banks took all five top spots, according to The Real Deal’s annual ranking.
JPMorgan Chase wrote the most loans, 774, but its $3.6 billion total left it nearly $2 billion behind.
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How the Ranking Works
The Real Deal counted commercial mortgages larger than $10,000 filed with the city across the 12 months from August 2025.
Wells Fargo’s 84 mortgages averaged $66.2 million. Its median loan was $6.7 million.
Three Deals Drove Wells Fargo
Three deals made up roughly 38% of Wells Fargo’s volume. One was financing for BXP’s 343 Madison Avenue office development, a 930,000-square-foot project by Grand Central.
Another was Genting Group’s Resorts World expansion in Jamaica, Queens, which drew a loan above $700 million. The third was a CMBS refinancing for Stefan Soloviev’s tower at 9 West 57th Street.
JPMorgan Wins on Volume
JPMorgan’s median loan was just under $405,000, and its average was $4.6 million. Multifamily drove the count: those loans made up 470 of its 774 mortgages (60.7%) but only $665 million of its volume (18.5%).
One was a $765 million April refinance that took out a $555 million construction loan on Rabsky Group’s 1,100-unit 625 Fulton Street complex.
The bank is also in the mix on larger development deals. In September we reported that JPMorgan was weighing a roughly $3.8 billion construction loan for Extell’s Upper West Side tower, according to Bloomberg.
The Rest of the Top Five
Bank of America ranked third at $2.5 billion in volume. Citigroup, which places third in the combined residential-and-commercial ranking, totaled $2.4 billion.
Deutsche Bank closed out the top five on 61 deals worth $1.8 billion.
Why It Matters
Big banks still dominate New York lending, but they win in different ways. Wells Fargo’s lead rested on a handful of large office and hospitality financings, while JPMorgan’s count came from many small multifamily loans.
That makes the top spot sensitive to a few jumbo deals, so one large refinancing can reorder the table.
What’s Next
Watch whether office refinancings like 9 West 57th keep feeding the biggest banks’ totals, and whether multifamily keeps driving JPMorgan’s loan count in the next ranking.
