Jeffrey B. Steiner

November 18, 2024 | New York Law Journal

“Just when you think you’re out, the New York Foreclosure Abuse Prevention Act (FAPA) pulls you back in. Since the question at hand is whether or not FAPA can be applied retroactively, a brief trip down memory lane seems fitting.”

By Jeffrey B. Steiner and Megan Vallerie

5 minute read

September 17, 2024 | New York Law Journal

"While real estate publications and practitioners have written ad nauseam about the impacts of high interest rates on the commercial real estate industry, this article focuses specifically on how borrowers and lenders have gotten creative in negotiating and structuring interest rate hedges (namely interest rate caps), or avoiding them altogether."

By Jeffrey B. Steiner and Scott A. Weinberg

6 minute read

July 16, 2024 | New York Law Journal

The world of nonprofits represents a wide range of causes and there are different requirements that must be satisfied in connection with such real estate transactions, depending on an organization's purpose and the specifics of the deal. In their Real Estate Financing column, the Jeff Steiner, Scott Weinberg and Tim Swearingen discuss the requirements.

By Jeffrey B. Steiner, Scott A. Weinberg and Tim Swearingen

6 minute read

May 14, 2024 | New York Law Journal

A seemingly tidy and fair solution to a very complicated problem, a deed in escrow gives a borrower additional time to sell or refinance its property while still giving the lender an efficient means to obtain the property if the borrower defaults anew. This is hardly a gift in New York though, where the oft-called "deed in a box" is almost always held to be unenforceable.

By Jeffrey B. Steiner and Megan Vallerie

6 minute read

March 19, 2024 | New York Law Journal

Mortgage lenders have many things to worry about when a loan goes into default and they seek to enforce their remedies, whether by foreclosing a mortgage or suing on various guarantees. One thing which may not cross their minds, but can cause a delay in enforcement, is whether or not their lending entity is required to be authorized to do business in the State of New York.

By Jeffrey B. Steiner, Scott A. Weinberg and Joel C. Haims

6 minute read

November 14, 2023 | New York Law Journal

While the potential advantages of converting office buildings into residential spaces are widely acknowledged, such conversions can be financially burdensome and present structural difficulties, often requiring a complete overhaul of existing floor plans and resulting in awkward layouts. As a result, another trend gaining traction in cities nationwide is repurposing office buildings for agricultural use and creating farms in urban centers.

By Jeffrey B. Steiner and Scott A. Weinberg

6 minute read

September 19, 2023 | New York Law Journal

In their Financing column, Jeff Steiner and Megan Vallerie discuss 'Kirschner v. JP Morgan Chase Bank,' which examines the question: "Are notes sold as part of loan syndication securities?"

By Jeffrey B. Steiner and Megan Vallerie

6 minute read

July 18, 2023 | New York Law Journal

As lenders and borrowers navigate this period of rising interest rates and uncertainty in the lending market, lenders are faced with increased pressure to find alternative sources for repayment, including enforcement of the various guaranties which are often present in real estate loans. In looking to enforce these guaranties, lenders have turned to the courts and New York State Civil Practice Law and Rule 3213 for a speedy resolution of such guaranty litigation.

By Jeffrey B. Steiner and Billy Hildbold

5 minute read

May 16, 2023 | New York Law Journal

A discussion of the various impacts the FAPA will have going forward that mortgage lenders should be aware of.

By Jeffrey B. Steiner and Megan Vallerie

6 minute read

March 14, 2023 | New York Law Journal

One of the most powerful lender rights is the appointment of a receiver to monitor and marshal the collateral as necessary. Recently, this right has been called into question in a recent slip opinion in Wells Fargo Bank, N.A. v. JTRE 240 E. 54th St., discussed here.

By Jeffrey B. Steiner and Billy Hildbold

5 minute read