New York Metropolis legislation agency Rosenberg & Estis has shaped a brand new distressed actual property group to help shoppers dealing with actual property debt challenges.
The group will supply professional authorized options for shoppers together with lenders, debtors and buyers who’re dealing with challenges as a result of ongoing volatility within the New York actual property market.
The workforce has been made up of attorneys from the agency’s actual property, litigation, company, restructuring and chapter practices. It can advise shoppers on learn how to protect their property or reap the benefits of alternatives within the present market.
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“Industrial actual property house owners and lenders face a quickly evolving market as over $1.5tn (£1.15tn) of US industrial actual property debt is predicted to mature by the tip of 2025,” stated Michael E. Lefkowitz, managing member of Rosenberg & Estis, and a frontrunner of the agency’s transactional division.
“Larger rates of interest, decreased property values and escalating working prices have made refinancing and restructuring actual property portfolios extraordinarily difficult.
“Our new distressed actual property group supplies complete authorized steerage for these navigating this tumultuous market.”
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The group has aimed to create a ‘one-stop store’ for all actual property shoppers, which can assist them navigate transactional and litigation challenges with out the necessity to seek the advice of a number of authorized advisors.
“We’ve seen each part of the industrial actual property cycle and we perceive learn how to assist shoppers handle completely different types of misery,” added Lefkowitz.
“Our aim is to assist property house owners and buyers not solely to outlive however to seek out new alternatives within the present market local weather.”
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