David Broderick

September 20, 2022 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and David Broderick discuss the many considerations at play (and several negotiated provisions involved) in standard completion guaranties.

By Jeffrey B. Steiner and David Broderick

6 minute read

July 20, 2021 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and David Broderick discuss construction loan guaranties which prompt a variety of issues, particularly when mezzanine debt exists in addition to mortgage loan debt.

By Jeffrey Steiner and David Broderick

5 minute read

May 18, 2021 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and David Broderick discuss several topics that lenders should consider when making loans to mortgage borrowers that are indirectly funded using crowdfunded equity.

By Jeffrey B. Steiner and David Broderick

5 minute read

January 19, 2021 | New York Law Journal

During periods of distress in the real estate industry, when loans are being placed in default at a higher frequency, if a lender is not going to enter into a consensual workout or loan restructuring with their defaulted borrower, the lender will have the choice of either enforcing rights under the loan, or selling it. In their Real Estate Financing column, Jeffrey Steiner and David Broderick discuss two recent cases demonstrating the challenges lenders may face with each of these options.

By Jeffrey Steiner and David Broderick

6 minute read

September 15, 2020 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and David Broderick write: As the COVID-19 pandemic continues to wreak havoc on the real estate industry, and as the initial lender reaction of accommodation to borrowers has mostly continued, there has been a shift from loan modifications to defaulted loan forbearance arrangements, together with a very public increase in mezzanine-lender enforcement actions, as evidenced by the public advertisements of notices of sale.

By Jeffrey B. Steiner and David Broderick

6 minute read

March 17, 2020 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and David Broderick discuss three key topics in intercreditor agreements governing the relationship between mortgage and mezzanine lenders, and the evolving standards that are often taken into consideration when negotiating provisions addressing these topics.

By Jeffrey B. Steiner and David Broderick

9 minute read

November 19, 2019 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and David Broderick focus on a case highlighting issues related to guarantor full recourse liability due to breaches of the voluntary lien, transfer and indebtedness carve-outs.

By Jeffrey B. Steiner and David Broderick

7 minute read

March 19, 2019 | New York Law Journal

In their Financing column, Jeffrey Steiner and David Broderick discuss the payment subordination provision in an intercreditor agreement between a mortgage lender and a mezzanine lender, which they characterize as being one of the more material provisions in these agreements.

By Jeffrey B. Steiner and David Broderick

9 minute read

June 26, 2017 | Delaware Business Court Insider

Mezzanine Debt versus Preferred Equity: which investment structure is utilized by the subordinate capital provider is often determined by the regulatory and other circumstances and objectives of the senior lender and not the preferences of the subordinate capital provider.

By David Broderick and Brian Donnelly

20 minute read

June 26, 2017 | New York Law Journal

David Broderick and Brian Donnelly discuss situations where the use of preferred equity in lieu of mezzanine debt is required and key concerns that the subordinate capital provider must consider with respect to such preferred equity investment.

By David Broderick and Brian Donnelly

10 minute read