The only constant in the New York metro area commercial real estate market is change. Connect sat down with David S. Bagatelle, Sterling National Bank’s Executive Vice President and President, New York Metro Market, and talked to him about how he helps clients move forward.
Q. What has surprised you the most about the New York area’s real estate?
A. The resilience of the market. We don't believe you will see the fluctuations on the downside of this market.
Q. What new innovations and products from Sterling are connecting with clients’ changing needs?
A. Historically, unsophisticated clients are asking for more complex cash management products and services. These revolve around online services that can be accessed anywhere by our clients—including PC, tablet, and phone—and online banking security to assure payments, receipts, and confidential client information are not compromised. Also, our clients are more and more looking for information on interest rate swaps.
Q. How does your expertise help established clients grow their real estate businesses?
A. I look at Sterling as a giant networking machine. We can get to virtually anyone in the market, and this access is a huge plus for our clients. Our clients often ask for our views of the market and particular deals. Most loan and deposit products are a commodity—the differentiator for us is the advice we give.
Q.What can a new client expect from their partnership with sterling that they won’t get anywhere else?
A. To sum it up in a few words: advice, speed, creativity, pragmatism, access, and an “above and beyond" attitude.