NYC’s largest multifamily lender says rent collections are at pre-pandemic levels

New York City’s largest multifamily lender said rent collections in its loan portfolio have returned to pre-pandemic levels and the vacancy rate less than 3 percent — but investors remain wary. New York Community Bank reported 5 percent revenue growth in the third quarter, to $295 million. The bank said that 95 percent of the $3.1 billion in loan deferrals that were eligible to come out of forbearance have started paying again. Another $3.1 billion