Shaya Boymelgreen is one of New York’s most active real estate developers. He is the principal of the real estate consortium Leviev Boymelgreen, an active participant in three major renovation and construction projects in Lower Manhattan. Last Monday, Mr. Boymelgreen hosted a reception at 120 Broadway, the former Equitable Building, for the opening of the headquarters and charter branch of Liberty Pointe Bank, a New York State-chartered commercial bank, for which he serves as the chairman. Mr. Boymelgreen’s vision for the new bank is drawn from his considerable experience as a real estate developer.

“I have always been fortunate to have good bankers at my side,” Mr. Boymelgreen said. “It taught me a valuable lesson about the important role that a good banking relationship has in any successful business. By opening our first branch in the heart of Lower Manhattan, we are sending a strong message of our intention to play a lead role in the development of the area. While Liberty Pointe Bank will serve all types of businesses, the experience of ownership in real estate makes it a natural as a hub of activity for New York’s real estate industry.” Mr. Boymelgreen is following a path taken by a number of other prominent real estate leaders in entering the banking industry.

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In June 1999, Mark Defazio, who previously served as the head of real estate department at Israel Discount Bank of New York, together with the law firm of Herrick Feinstein, founded Metropolitan National Bank, also known as Met Bank. In September, the bank opened its first retail branch at 99 Park Ave., with plans to open two more facilities next year – at Fifth Avenue and 46th Street and Broadway and West 38th Street. Today, the bank has assets of about $375 million and primarily provides financing to the real estate and middle market community.

Principal investors include Herrick Feinstein, Mark Defazio, and real estate leaders, such as the chairman of RD Management, Jay Furman, Joseph Moinian of the Moinian Group, the chairman of the Red Apple Group, John Catsimatidis, and Ben Fishoff.

In September, the Park Avenue Bank, a full-service community bank serving the real estate lending market and middle market, opened its first branch at 4419 13th Ave. in the Boro Park section of Brooklyn. On July 1, 2004, the Brooklyn-born, 42-year-old chairman of the Lighthouse Group, David Lichtenstein, headed an investment group – including Charles Antonucci – in acquiring a controlling interest in the bank. The New Jersey-based Lighthouse Group owns a portfolio of properties in 28 states, including nearly 20,000 apartments and 27 million square feet of commercial and retail space.

In October 1998, Greater American Finance Group, a newly formed subsidiary of Cooper Life Sciences – an investment vehicle for a commodities broker and real estate investor, Moses Marx – purchased stock in Berkshire Bank. The bank was founded in 1989 by the legendary ex-chief executive of Time Warner, the late Steve Ross, and Oded “Ed” Aboodi, a financier who was one of Ross’s closest advisers. Today, Mr. Marx is the chairman of Berkshire Bank, which has headquarters at 4 E. 39th St. The bank was founded as a subsidiary of Berkshire Bancorp, a publicly traded bank holding company. Its stock trades on the Nasdaq, and its assets have surpassed $1 billion. This June, the bank opened its 10th branch in the Midwood section of Brooklyn.

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In the 1980s, one of the largest owners of residential apartments and office buildings, the Milstein family, recognized the value of banking. They acquired control of Emigrant Savings Bank. The bank, founded in 1850, is the oldest savings bank in New York City operating under its original name. With assets of nearly $10.1 billion, its core businesses include retail banking and commercial banking, with other business in various lending subsidiaries that cover residential mortgages, mixed-use, multifamily loans, and commercial real estate.

Martin Berger serves as a member of the board of Mack Cali Realty and as chairman of the Robert Martin Company. Mr. Berger also serves as chairman and chief executive of City & Suburban Federal Savings Bank. He controls 24% of the stock of the bank, previously known as Tremont Savings and Loan Association. The focus of the bank is to provide commercial real estate loans and personal mortgages.

In 1990, a prominent real estate developer, investor, and philanthropist, Stanley Stahl, became the sole stockholder of the Apple Bank for Savings when he paid about $170 million. Mr. Stahl was the developer of the 51-story building at 277 Park Ave. and had owned the Chanin Building at 122 E. 42nd St. In August 1999, Stahl died. The $5 billion bank is now controlled by the Stahl estate and focuses on real estate financing.

Before the end of the year, M.I. Holdings, a consortium led by Matthew Bronfman, hopes to close on the ownership of Israel Discount Bank of New York. Mr. Bronfman, a member of the Canadian Bronfman family, is one of the largest owners of residential and commercial real estate in Israel and also has holdings in New York. The members of the consortium include a corporation controlled by the real estate investor Rubin Schron and an attorney, Leonard Grunstein. In August, the consortium bought the assets of Israel Discount Bank of Israel from the state of Israel. Cammeby International, controlled by Mr. Schron, is the owner of real estate throughout the nation, including the Woolworth Building.

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In 1994, the real estate investor Jerome Dansker and Lawrence Bergman purchased a 70% interest in Countryside Bank. Today, Mr. Dansker is chairman of Intervest Banchares and its primary subsidiaries. Subsidiaries include Intervest National Bank, a national bank with its main office in Rockefeller Plaza; Intervest Mortgage, a direct lender of mortgages on improved real estate, and Intervest Securities. The group’s principal activity is to serve real estate business, including origination and the purchase of real estate mortgage loans.

Over the years, active real estate developers have come to appreciate the advantages of entering the banking business. Utilizing their knowledge of the real estate industry, they have sought to fill a market need for loans to be used for construction, maintenance, and the purchase of properties. These entrepreneurs prefer to provide financing to an industry they thoroughly understand. Many of these investors, who have been successful in real estate, parlay their experience into becoming profitable public financial institutions.

Mr. Stoler is a television broadcaster and senior vice president at First American Title Insurance Company of New York. He can be reached at mstoler@firstam.com.