New York Metropolis legislation agency Rosenberg & Estis has fashioned a brand new distressed actual property group to assist purchasers dealing with actual property debt challenges.
The group will provide skilled authorized options for purchasers together with lenders, debtors and traders who’re dealing with challenges because of the 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 purchasers on methods to protect their property or reap the benefits of alternatives within the present market.
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“Business actual property homeowners and lenders face a quickly evolving market as over $1.5tn (£1.15tn) of US business 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.
“Greater 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 purchasers, 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 business actual property cycle and we perceive methods to assist purchasers handle completely different types of misery,” added Lefkowitz.
“Our purpose is to assist property homeowners and traders not solely to outlive however to seek out new alternatives within the present market local weather.”
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