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As tough market conditions persist in New York City, many real estate developers are confronting financing issues and potential loan defaults for the first time in nearly a decade. Due to a series of factors, including a surplus of new supply, new tax laws that make buying more costly, and declining demand from foreign buyers, some significant projects are struggling and at risk of foreclosure. In their most recent New York Law Journal contribution, partners Todd Soloway and Bryan Mohler, together with associate Itai Raz, explore the common forms of debt financing and the particular considerations and legal issues involved when a lender seeks to foreclose.
The full article can be found here.
About Pryor Cashman's Real Estate Group
Centered in the heart of New York City, Pryor Cashman's Real Estate Group's provides award-winning services throughout the real estate lifecycle, regardless of the size of the transaction or dispute. Our attorneys work with clients from the property acquisition, financing or lease through any potential construction or development and final sale. We focus on mitigating risks at every turn, but we also have an experienced team of real estate litigators to resolve any disputes.
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