Jeffrey B. Steiner

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

July 14, 2020 | New York Law Journal

In their Real Estate Financing column Jeffrey B. Steiner and Scott A. Weinberg review the recent case, D2 Mark v. OREI VI Investments to understand how the court's decision may provide mezzanine lenders with guidance in structuring a UCC foreclosure sale auction in the COVID-19 landscape so as to strengthen their position against any claims by the mezzanine borrower that the sale is not commercially reasonable.

By Jeffrey B. Steiner and Scott A. Weinberg

8 minute read

May 19, 2020 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and Scott Weinberg write: In the current economic climate, created in large part by the Covid-19 virus, many borrowers are facing challenges and approaching their lenders with loan modification requests. In handling the large number of such requests, it is important for lenders and servicers to remember to exercise caution in their communications with these borrowers to avoid potential liability for negligence.

By Jeffrey B. Steiner and Scott A. Weinberg

7 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

January 14, 2020 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and Scott Weinberg discuss the passage of the Appropriations Act as an important measure in ensuring that insurance coverages remain available to property owners/borrowers at premiums that they can afford is of utmost importance to the stability of real estate markets, including the lending markets, and the economy at large.

By Jeffrey B. Steiner and Scott A Weinberg

6 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

September 17, 2019 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and Scott Weinberg review a recent case, Green Tree Servicing, v. Molini, and how the opinions by the majority and the dissent indicate a certain hesitance in embracing the full import of the Aurora decision which refined the requirements for a lender to assert standing to foreclose.

By Jeffrey B. Steiner and Scott A. Weinberg

7 minute read

July 16, 2019 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and Pej Razavilar focus on one of the principal requirements of the opportunity zone provisions—namely, that previously used tangible assets must be substantially improved and that, in order to do so, the property owner must double its initial cost basis in such property.

By Jeffrey B. Steiner and Pej Razavilar

8 minute read

May 14, 2019 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and Dino Fazlibegu discuss the recent First Department Appellate Division decision Sutton 58 Associations LLC v. Philip Pilevsky, which “engendered a good deal of alarm in the New York commercial real estate lending community as more than a few worried that the decision would deprive lenders of the protections afforded to them by having special purpose bankruptcy remote and single asset borrowers.”

By Jeffrey B. Steiner and Dino Fazlibegu

8 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