Dennis M Sughrue

June 19, 2023 | New York Law Journal

As has been widely reported, U.S. property owners must refinance $137 billion of office mortgages this year and nearly half a trillion dollars in the next four years, at a time of widespread lender retrenchment. Compounding the distress, spiking interest rates, coupled with the staggering cost of interest rate hedges for floating-rate loans, have dramatically raised the cost of the few loans on offer.

By Dennis M. Sughrue and Daniel A. Devine

9 minute read

December 18, 2013 | New York Law Journal

Dennis M. Sughrue, a partner at Pryor Cashman, writes: Record-high land prices have dramatically altered the development landscape. While New York's rents are the highest in the nation, they aren't high enough, taking account of land prices, to justify rental development. Predictably, developers have stampeded into the luxury market, while rental housing and modestly priced for-sale construction have languished. It may be time to reevaluate the current development paradigm. Properly structured ground leases may be part of the answer.

By Dennis M. Sughrue

10 minute read

September 22, 2011 | New York Law Journal

Dennis M. Sughrue, a partner at Herrick, Feinstein, writes that as ts the real estate market continues its recovery, the sale-condo-back could become a more prominent feature of the New York real estate landscape, affording owners and developers with the tools required to overcome even the most intractable of real estate problems.

By Dennis M. Sughrue

12 minute read