Northfield Bank Hosts Affordable Housing Program Event with the Federal Home Loan Bank of New York

STATEN ISLAND, NY, DECEMBER 4, 2025 - Northfield Bank, in collaboration with the Staten Island Economic Development Corporation (SIEDC) and the Federal Home Loan Bank of New York (FHLBNY), recently hosted an informational event on affordable housing programs sponsored by the FHLBNY and available through Northfield Bank.  The programs, which are funded directly from the FHLBNY’s earnings, provide financial support to local builders and developers to increase housing supply by expanding access to affordable housing and providing closing cost and downpayment assistance to prospective home buyers.

The event brought together industry professionals, community stakeholders, and representatives from the SIEDC Planning Advisory Council and the FHLBNY to discuss the Federal Home Loan Bank of New York’s Affordable Housing Program (AHP) and Homebuyer Dream Program® suite.  AHP provides up to $2.5 million in grant dollars to developers and builders to fill financing gaps or lower overall costs in affordable housing projects and the Homebuyer Dream Program® suite can provide grants up to $60,000 per household.  In 2025, the FHLBNY awarded $86.3 million in AHP grants and made $40.5 million in funding available through its Homebuyer Dream Program suite.

“Northfield Bank is committed to strengthening our communities by supporting initiatives that expand access to safe and affordable housing,” said Steven Klein, President and CEO of Northfield Bank. “By partnering with the FHLBNY, we’re able to help local builders and developers better understand how to leverage the AHP to create meaningful, lasting impact.”  Mr. Klein continued, “Our residential lending team can assist first-time homebuyers to realize their dream of homeownership by offering financing solutions customized to their needs.”

The presentation, moderated by Adam Goldstein, Senior Vice President and Chief Business Officer of the FHLBNY, highlighted the Federal Home Loan Bank System’s foundational liquidity mission and focused on the FHLBNY’s range of housing finance and community and economic development programs, covering key components of the AHP and Homebuyer Dream Program® suite, including grant opportunities, eligibility guidelines, and best practices for submitting successful applications. Participants also had an opportunity to engage directly with a panel of FHLBNY experts to learn how the programs can support their projects across Staten Island and beyond.

“It is through members like Northfield Bank that our funding flows out to consumers and local businesses, driving economic growth at the community level,” said Randolph C. Snook, President and Chief Executive Officer of the Federal Home Loan Bank of New York. “We are proud to partner with Northfield Bank and the SIEDC to discuss our grant programs and credit products with builders and developers on Staten Island, broadening our relationship with these key housing stakeholders.  As the FHLBNY continues to focus on efforts to expand housing supply across our region, our team was grateful for the opportunity to have this conversation.”

“The SIEDC Planning Advisory Council, whose members include developers, real estate professionals, and industrial leaders dedicated to fostering strategic investments and sound economic policy on Staten Island, appreciates the opportunity to collaborate with Northfield Bank and the FHLBNY. This program equips our members with essential information as they advance homeownership and economic growth throughout the borough,” said Mike Cusick, SIEDC President & CEO.

Builders and developers interested in learning more about AHP can contact James (Jim) Morton, Northfield Bank Senior Vice President and Staten Island Commercial Lending Team Leader, at (718) 448-1000 ext. 1545.  Prospective homebuyers looking for additional information about the Homebuyer Dream Program® suite may visit www.enorthfield.com/affordable.

About Northfield Bank

Founded in 1887, Northfield Bank is a full-service community bank with 37 branch offices serving New Jersey and New York. With a longstanding commitment to community development, Northfield Bank provides personal and business banking services while partnering with organizations to strengthen local neighborhoods. For more information about Northfield Bank, please visit www.eNorthfield.com.

About the Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank and part of the Federal Home Loan Bank System, which is a national network of 11 regional banks. It serves member institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands and supports local members in providing financing for housing and community development. For more information about the Federal Home Loan Bank of New York, please visit www.fhlbny.com.

About the SIEDC
SIEDC’s mission is to enhance a thriving Staten Island economy by promoting public and private investment and encouraging the development of commercial and industrial property and projects in an environmentally friendly manner, all of which improve the quality of life and provide broad and diverse employment opportunities. For more information, visit siedc.org.