Many owners of commercial properties across the country encumbered by mortgage debt are still struggling to navigate the distressed real estate market, primarily due to their inability to pay current debt service resulting...more
9/30/2024
/ Borrowers ,
Commercial Property Owners ,
Deed-in-Lieu of Foreclosure ,
Financial Distress ,
Foreclosure ,
Interest Rates ,
Lenders ,
Loan Servicer ,
Mortgages ,
Net Operating Losses ,
Pre-Negotiation Agreements ,
Real Estate Market
What is the Good Cause Eviction law?
On April 20, 2024, New York State enacted new residential tenant protections affecting many market rate apartments under a framework referred to as “Good Cause Eviction.” In general,...more
We are now just weeks away from the implementation of significant changes to New York State’s Property Condition Disclosure Statement (PCDS) and sellers of residential real property and their real estate brokers need to be...more
As the commercial real estate market continues to be strained by a combination of rising interest rates and a pending recession, causing a decline in commercial real estate valuations and a restricted lending market, the need...more
When a borrower is seeking real estate financing, there is invariably timing pressure to solidify a mortgage loan term sheet (on occasion, in the form of a loan commitment or loan application), so that the next steps in the...more
Earlier this month, the New York State Senate (S318) and Assembly (A407) reintroduced proposed legislation seeking to extend the New York State mortgage recording tax to mezzanine debt and preferred equity financings. This...more