News:
Spotlight Content
Posted: November 26, 2024
2024 Ones to Watch - Innovators in CRE: Greg Sousa, Orange Bank & Trust Company
Greg Sousa joined Orange Bank & Trust in 2015 as vice president and senior relationship manager developing deposit and lending businesses as the bank built out its Rockland and Westchester markets. In 2017, he was promoted to first vice president and given the added responsibility of leading business development efforts for all Orange and Rockland branches. He was promoted to senior vice president in 2018, adding responsibility for marketing and product development initiatives to his portfolio. In 2020, Sousa was promoted to executive vice president, chief commercial banking officer and in 2024 he stepped into the role of chief lending officer.
Innovative Solution: I believe what sets us apart at Orange Bank & Trust is that we have kept to our growth strategy and remain very active in the market, even with its current challenges. Other banks pulling out on the lending front has allowed myself and the team to pick up generational wealth families into our portfolio. As an institution we have adjusted some lending policies to help minimize risk to the firm, and have stayed out of certain markets which could potentially have increased risk through government policies being put in place.
Innovative Outlook: I believe one of the biggest drivers of our success it that we have bolstered our cash management products, which help our CRE clients with the collection of payments. Some other opportunities that I see driving innovation in the sector are the tenant experience at the property increasing their value, workforce housing development and getting local government.
“Greg Sousa has been a member of the Orange Bank & Trust team since 2015, and currently serves as chief lending officer. During his tenure he has overseen initiatives such as the Bank’s participation in the federal government’s Paycheck Protection Program during the pandemic. His effective management of administrative responsibilities, significant contributions to loan and deposit production, and capable leadership are consistently recognized by his peers and colleagues.” - Kayleigh Lentz, Co-Communications, Inc.
Tags:
Spotlight Content
MORE FROM Spotlight Content
Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
.png)
.jpg)
Columns and Thought Leadership
The strategy of co-op busting in commercial real estate - by Robert Khodadadian
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
Properly serving a lien law Section 59 Demand - by Bret McCabe
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
.gif)