MIDDLETOWN, R.I.--(BUSINESS WIRE)--As the real estate markets in Manhattan and Brooklyn continue to remain highly competitive, national lender Embrace Home Loans opens its first branch in New York City to support growing demand. The branch is located at 132 West 31st St. Suite 1567 New York, NY 10011, and will be led by industry veteran and branch manager, Billy Fazio. The new office joins Embrace’s two other branches in New York state, including Hauppauge and New Rochelle.
According to StreetEasy’s recent market report for Manhattan and Brooklyn, rising real estate prices and low inventory is driving competition for buyers. In fact, over the past year, the median resale price rose 1.3 percent in Manhattan and a staggering 11 percent in Brooklyn. Additionally, there were nearly seven percent fewer homes compared to a year ago in Manhattan, with Upper Manhattan seeing the greatest drop at 23.4 percent.
“As the New York real estate market becomes increasingly competitive, Embrace’s newest branch will support the increased demand for home-buying,“ said Fazio. “Our goal is to not only create an enjoyable experience for both borrowers and real estate agents, but also provide them with a needed competitive edge. We look forward to supporting this market and serving as a trusted and experienced lender to the community.”
With more than 13 years in mortgage lending, Fazio has served as branch manager and mortgage consultant for various organizations, providing him with a wealth of industry knowledge. He received a Bachelor of Business Administration in Banking and Finance from Northwood University. In addition to his work, he remains dedicated to giving back to local communities and beyond, having been instrumental in raising money to help build schools in third world countries.
“The housing market continues to make significant gains across the nation, including New York State,” said Jeff McGuinness, chief sales officer at Embrace Home Loans. “Opening a new office and adding the industry’s top talent will position us to better support those markets, and we know Billy and his team will be the perfect individuals to do so. Not only do his customer-centric values align with Embrace’s commitment to providing outstanding service, but his dedication to enriching communities in need speaks to his personal values. We’re confident he will be a great addition to our team.”
Earlier this year, Fazio and his team partnered with Madison Avenue Agency to manage and host the Spring Beautique Social Network Mixer for the who’s who in real estate, finance and luxury. Held at the Boutique Oval Room and VIP Lounge in New York, they raised $5,690. This included the evening check presentation for $3,450 from Embrace and Billy Fazio presented to Chase Iron Eyes in support of the Last Real Indians (LRI), a non-profit organization accountable to the Standing Rock Reservation. The LRI founder, Chase Iron Eyes, was born on the Standing Rock Reservation and has taken a stand to stop the pipeline, serving the water protectors and serving the people of Standing Rock Reservation. The auction took place with company donated items, including a NYC Helicopter Tour, a Rolls Royce Chauffeured experience by Red Carpet Lifestyle, NY Prime Beef Steak Gift Boxes, Foxwoods Mini-Suite Weekends and more.
On May 18, Embrace Home Loans will hold another networking event to mark the grand opening of its New York City office. The event will be held at Jue Lan Club, which was once the home of the legendary nightclub Limelight which transformed a Church into a mega hotspot in the 90’s. Madison Avenue Agency will host the mixer and has secured contributors including Foxwoods Resort Casino, Worldwide Land Transfer, Triplemint, Cloud Nine Exotics-Exotic Car Experiences and Rentals and more. The mixer will include a charity auction with items including a daylong Ferrari rental and a Foxwoods Casino mini suite weekend package. All proceeds will go to support the Last Real Indians and Mashantucket Pequot Museum and Research Center at Foxwoods Resort Casino.
To learn more about the May 18 event, please visit www.socialnetworkmixer.com.
About Embrace Home Loans
Founded in 1983, Embrace Home Loans is a direct lender for Fannie Mae and Freddie Mac, approved by FHA and VA, and an issuer for Ginnie Mae. Embrace Home Loans has remained a prominent leader in the industry, having helped hundreds of thousands of individuals and their families purchase new homes, lower their monthly payments and consolidate high-interest debt since its inception. With 80+ offices and licensed in 46 states and D.C., Embrace has been recognized seven times as one of the Best Medium-sized Companies to Work for in America by Fortune and four times as one of the Fastest Growing Companies in America by Inc. The company has also been recognized eleven times as one of the Best Places to Work in Rhode Island and as the Most Community Involved Company in Rhode Island by Providence Business News. For more information, please visit www.embracehomeloans.com.