Transactions
TRANSACTIONS
Navigating the increasing complexity of real estate transactions and nuances of the New York market requires expertise beyond the realm of traditional real estate practices; one that is based on innovation and experience. The key to successful real estate outcomes is having the guidance of an experienced attorney who can deliver results. Romer Debbas, LLP has provided countless clients with creative solutions to complex and seemingly unsolvable real estate matters.
Romer Debbas LLP Represents Institutional in $11 Million Commercial Loan Secured by 3 Brooklyn NY Parcels
Romer Debbas LLP represented a prominent institutional lender in connection with an $11 Million first mortgage loan secured by three (3) separate commercial real estate properties located in Brooklyn, NY. This loan transaction was closed by partners Guy Arad and [...]
READ MORE
Romer Debbas Represents Regional Lender in $11.6 Million Advance under $50 Million Loan on Loan Facility
Romer Debbas LLP's Commercial Real Estate Finance team represented a prominent regional lender in connection with an $11.6 Million Advance under an existing $50 Million Loan on Loan facility. This loan provided leverage in connection with the refinancing of [...]
READ MORE
Romer Debbas LLP Represents Private Lender in $6 Million Mortgage Loan Secured by Tribeca Properties.
Romer Debbas LLP represented a private lender in connection with a $6,000,000 first mortgage loan secured in part by two (2) cross-collateralized properties located in the TriBeCa neighborhood in Manhattan. This complex transaction was closed by partners Guy Arad and [...]
READ MORE
Romer Debbas LLP Closes $15.9 Million Loan on Loan Credit Facility for 264 Unit Complex in Indiana
Romer Debbas LLP represented a prominent institutional lender in connection with a $15,914,062 loan on a loan line of credit facility to provide leverage in connection with the refinance of a newly constructed 264-unit low-rise apartment complex consisting of 10-apartment [...]
READ MORE
Romer Debbas LLP Closed $7 Million Commercial Loan Secured by New York and Florida Properties
Romer Debbas LLP represented a prominent institutional lender in connection with a $7,093,054 first mortgage loan secured by two cross-collateralized properties located in Farmingdale, New York and Margate, Florida. The properties are improved with commercial office buildings with on-site parking. [...]
READ MORE
Romer Debbas LLP Closed $8 Million Credit Facility on 7 Story Multi-Family in Brooklyn
Romer Debbas LLP represented a prominent institutional lender in connection with a $8,000,000 first mortgage loan secured by a recently constructed 16,030 gross square foot, 7-story multifamily building consisting of 20-units located in Brooklyn, New York. This transaction was handled [...]
READ MORE
Romer Debbas LLP Closes Five (5) Separate Condo Purchases at 64 University for $14.5+ Million
Romer Debbas LLP's Residential Real Estate team represented five (5) different purchasers in connection with five (5) condo unit acquisitions at 64 University. These transactions were all handled by Partner Steven Matz and Paralegal Justin Musumeci. All deals closed [...]
READ MORE
Romer Debbas LLP Represents Purchaser of $5 Million Condo Unit which Included Access to Gramercy Park
Romer Debbas LLP represented a condo purchaser in connection with a unique $5 Million transaction at 18 Gramercy Park South. In addition to acquiring the unit, the transaction involved access to Gramercy Park. This transaction was closed in [...]
READ MORE
Romer Debbas Represents Soccer Apparel Business in Connection with Retail Lease at 45 Crosby Street
Romer Debbas LLP represented a soccer apparel business in connection with a retail lease involving storefront property located at 45 Crosby Street. This transaction was handled start to finish by partner Seth Feldman.
READ MORE
Romer Debbas LLP Represents $35.5 Million Townhouse Buyer in West Village
The residential team at Romer Debbas represented the buyer of 66 Morton Street, a highly sought after 25-foot-wide townhouse in the West Village that sold for $35,500,000. This landmark property, originally built in 1852, underwent extensive renovations over the years, [...]
READ MORE
Romer Debbas Agency Lending Group Closes Two (2) Fannie Mae DUS Loans ($21 Mil) on NYC Portfolio with 421-a(16) Exemption
A prominent agency lender provided Fannie Mae conventional financing in the aggregate amount of $21 million to a renowned New York developer secured by two newly constructed projects located in Harlem’s historic neighborhood. The properties currently receive an exemption from [...]
READ MORE
Romer Debbas LLP Agency Lending Group Closes $10.4 Million Fannie Mae DUS Refi Involving Soft Preferred Equity
Closed under the new proposed Fannie Mae guidelines for preferred equity transactions, the Agency Lending & Affordable Housing group of Romer Debbas LLP represented a prominent lender in a refinance loan originated under the Fannie Mae DUS Program. In addition [...]
READ MORE
Romer Debbas Handled Modification of $50 Million Loan on Loan Credit Facility
Romer Debbas, LLP’s commercial lending group recently handled a loan closing for a prominent regional lender in connection with a $3,800,000 advance under an existing $50,000,000 loan on loan line of credit facility to provide leverage in connection with the refinancing of seven [...]
READ MORE
Romer Debbas LLP Represents Institutional Lender in Connection with $15 Million Loan on Loan Agreement
Romer Debbas, LLP’s commercial lending group recently handled a loan closing for a prominent institutional lender for a $15,410,000.00 loan under a Master Loan Purchase Agreement secured in part by a newly constructed, 10-story multifamily property, consisting of 46-residential units, 1-ground floor [...]
READ MORE
Romer Debbas LLP Represents Lender in Connection with $23.6 Million Loan on Loan Agreement
Romer Debbas, LLP’s commercial lending group recently handled a loan closing for a prominent institutional lender for a $23,691,000.00 loan under a Master Loan Purchase Agreement secured in part by a newly constructed, 4-story mixed-use property, consisting of 85-residential units, amenity space, [...]
READ MORE
Romer Debbas, LLP is proud to announce that it has closed a landmark residential transaction in the Hamptons this month
Romer Debbas, LLP is proud to announce that it has closed a landmark residential transaction in the Hamptons this month. La Dune, as the property is referred to, is a famous property that was seeking $150 million as recently as [...]
READ MORE
Romer Debbas, LLP is proud to announce that it has closed a landmark $88 Million residential transaction in the Hamptons this month
Romer Debbas, LLP is proud to announce that it has closed a landmark residential transaction in the Hamptons this month. La Dune, as the property is referred to, is a famous property that was seeking $150 million as recently as [...]
READ MORE
Romer Debbas Agency Lending & Affordable Housing Team Closes $16.4 Million Freddie Mac Conventional Loan on Historic 44 Unit Property in Massachusetts
Romer Debbas Agency Lending & Affordable Housing team recently represented a prominent lender in the closing of a $16.4 million mortgage loan under the Freddie Mac Capital Markets program for a property in Massachusetts. The recently rehabilitated historic project consists [...]
READ MORE
Romer Debbas Agency Lending Group Closes Assumption Loan Involving JV, Preferred Equity and 1031 Exchange
A prominent agency lender provided an assumption loan to a joint venture vehicle, which provided preferred equity to the deal. The existing Fannie Mae conventional loan of $6,756,000, with a very attractive interest rate, brought together investor groups from Lynchburg, [...]
READ MORE
Romer Debbas LLP Commercial Lending Group Closes $7.6 Mil Advance on $50 Mil Loan on Loan Facility to Refinance Miami Properties
Romer Debbas, LLP’s commercial lending group recently handled a loan closing for a prominent regional lender in connection with a $7,600,000 advance under an existing $50,000,000 loan on loan line of credit facility to provide leverage to refinance two (2) newly renovated single-family properties [...]
READ MORE
Romer Debbas Commercial Lending Group Closed $7.2 Million Loan Secured by 12 Unit New Development in Brooklyn, NY
Romer Debbas, LLP’s commercial lending group recently handled a loan closing for a prominent institutional lender for a $7,252,000.00 loan under a Master Loan Purchase Agreement secured in part by a newly constructed apartment building consisting of 12 residential units located in [...]
READ MORE
Romer Debbas Commercial Lending Team Closes $17.8 Million Secured in Part by 23 Residential Units in Brooklyn, NY.
Romer Debbas, LLP’s commercial lending group recently handled a loan closing for a prominent institutional lender for a $17,812,000.00 loan under a Master Loan Purchase Agreement secured in part by a newly constructed apartment building consisting of 23 residential units located in [...]
READ MORE
Romer Debbas LLP Commercial Lending Group Closes $10.4 Million Advance on $50 Million Loan on Loan to finance 57 Unit Project in Bay Harbor Islands, FL
Romer Debbas, LLP’s commercial lending group recently handled a loan closing for a prominent regional lender in connection with a $10,400,000 advance under an existing $50,000,000 loan on a loan line of credit facility to provide leverage to finance the development of a condominium [...]
READ MORE
Romer Debbas LLP Commercial Lending Team Closes $7.5 Million Advance on $50 Million Loan on Loan Refinancing 43 Unit Condo Project in Sunrise, Florida
Romer Debbas, LLP’s commercial lending group recently handled a loan closing for a prominent regional lender in connection with an up $6,797,895.02 advance and $889,328.11 advance under an existing $50,000,000 loan on loan line of credit facility to provide leverage in connection with the refinancing of [...]
READ MORE
Romer Debbas Commercial Real Estate Team Represents Purchaser of $27 Million Commercial Townhouse in Manhattan.
Romer Debbas, LLP’s commercial transactional group recently represented the purchaser in connection with the acquisition of a 20,000+ square foot 6-story plus mezzanine and basement commercial townhouse located in New York, New York for $27,000,000.00. This transaction was handled by Guy Arad, [...]
READ MORE
Romer Debbas Represents Borrower in $50 Million Pre-Development Loan Secured by Whitestone Industrial Property
Romer Debbas, LLP’s commercial transactional group recently represented the borrower in connection with a $50,000,000.00 pre-development loan secured by a standalone lot on its city block located in Whitestone, Queens. The property is improved with a two-story, 165,000 square foot retail building [...]
READ MORE
Romer Debbas Commercial Lending Team Represents Lender in $12.7 Million Loan Secured by 41 Unit Brooklyn Multifamily
omer Debbas, LLP’s commercial lending group recently handled a loan closing for a prominent institutional lender for a $12,737,000 loan under a Master Loan Purchase Agreement secured in part by an 8-story multifamily property containing 41 residential units located in Brooklyn, New [...]
READ MORE
Romer Debbas Commercial Lending Group Closes $14.5 Million Loan Secured by 46 Unit Brooklyn, NY Project
Romer Debbas, LLP’s commercial lending group recently handled a loan closing for a prominent institutional lender for a $14,563,000 loan under a Master Loan Purchase Agreement secured in part by two multifamily properties containing in the aggregate 46 residential units and 20 [...]
READ MORE
Romer Debbas LLP Commercial Lending Group Closes $12.8 Million Loan on Loan Facility in Connection with 71 Unit New Rochelle Multifamily Project
Romer Debbas, LLP’s commercial lending group recently handled a loan closing for a prominent institutional lender for a $12,865,125 loan on a loan line of credit facility to provide leverage in connection with the acquisition of a mixed-use, multi-family project consisting of [...]
READ MORE
Romer Debbas Agency Lending & Affordable Housing Team Closes $19 Million Fannie Mae DUS Assumption Loan Secured by 176 Unit Project in Georgia
Romer Debbas LLP’s Agency Lending & Affordable Housing group represented a prominent agency lender in the closing of a $19,000,000 Fannie Mae DUS Assumption Loan secured by a 176-unit multifamily project located in Savannah, Georgia (“Property”). Senior Associate, Catherine Azevedo, [...]
READ MORE
Romer Debbas Represents Luxury Women’s Apparel Store in Connection with Manhattan and East Hampton Leases
Romer Debbas, LLP recently represented a tenant both on Madison Avenue and East Hampton, N.Y. for high-end women’s apparel stores. This matter was handled by partner, Peter I. Reiter, Esq.
READ MORE
Romer Debbas Represents 1,000 Attorney Japanese Law Firm on Office Lease for its NYC Headquarters
Romer Debbas, LLP recently represented one of the biggest law firms in Japan with over 1,000 attorneys for its New York City headquarters for an entire floor for a ten (10 ) year term. This lease was handled by partner [...]
READ MORE
Romer Debbas Represents Commercial Tenant in 20,000 Soho Art Gallery Lease
Romer Debbas, LLP recently represented a tenant for an international art gallery in SoHo which covered three (3) levels of exhibition space plus a terrace for close to 20,000 total square feet. This matter was handled by partner Peter I. [...]
READ MORE
Romer Debbas Commercial Real Estate Department Represents Purchaser/Landlord in 1031 Exchange Involving Triple Net Property in North Carolina
Romer Debbas, LLP recently represented a purchaser/landlord in a 1031 Exchange in Charlotte, North Carolina where our Client purchased a chain restaurant under a negotiated 20-year triple net lease. This transaction was handled by partner, Peter I. Reiter, Esq.
READ MORE
Romer Debbas LLP Represents Major Commercial Landlord in Soho on 4 Separate Retail Lease for National Store Brands
Romer Debbas, LLP recently represented a major commercial landlord in SoHo on four (4) separate retail leases for national store brands totaling over 20,000 square feet of retail space. These leases were handled by partner Peter I. Reiter, Esq
READ MORE
Romer Debbas Agency Lending Team Closes $45 Million Fannie Mae DUS Loan on 316 Unit Project in Georgia
Romer Debbas LLP’s Agency Lending & Affordable Housing group represented Arbor Commercial Funding I, LLC (“Arbor”), in the closing of a $45,000,000 Fannie Mae DUS Conventional refinance loan secured by a housing project located in Stone Mountain, Georgia (“Property”). The [...]
READ MORE
Romer Debbas Agency Lending & Affordable Housing Team Closes $61.1 Million Freddie MAC TAH Loan on Houston, TX Project
Romer Debbas LLP Agency Lending & Affordable Housing group represented a prominent lender in the closing of an affordable housing refinance loan secured by a housing project located in Houston, Texas. Currently subject to a 99-year ground lease structure with [...]
READ MORE
Romer Debbas, LLP Closes a $10.1 Million Conventional Acquisition Loan Under Fannie Mae Delegated and Underwriting Servicing Program as Part of a Like-Kind 1031 Exchange
Romer Debbas LLP Agency Lending & Affordable Housing group represented Greystone Servicing Company LLC (“Greystone”) in the closing of a conventional acquisition loan secured by a 130-unit multifamily housing project located in Indianapolis, Indiana (“Replacement Property”). Structured as a 5 [...]
READ MORE
Agency Lending Team Closed $8.5 Million Freddie Mac Supplemental Loan on 459 Unit Project in Texas
The Agency Lending & Affordable Housing team of Romer Debbas LLP represented a prominent lender in the closing of an $8.5+ million ARM supplemental loan originated under the Freddie Mac Optigo Seller/Servicers supplemental loans program. The loan encumbering a 459-unit [...]
READ MORE
Agency Lending Team Closes $35.8 Million Loan on 11 Property Portfolio (Fannie Mae DUS)
The Agency Lending & Affordable Housing team of Romer Debbas LLP represented a prominent lender in the closing of a portfolio of 8 supplemental loans in the aggregate sum of $35.8 million originated under the Fannie Mae DUS Supplemental Loans [...]
READ MORE
Litigation Team Successfully Defended Luxury Condo Building in Support of Business Judgment Rule
Romer Debbas, LLP recently obtained a tremendous decision for a downtown luxury condominium building where the firm represents the board, in which a unit owner’s Article 78 Petition was denied due to the Business Judgment Rule. An Article 78 Petition [...]
READ MORE
Closed $15.4 Million Refinance for Prominent Lender Secured By 432 Park Avenue Condo
In July 2020, Romer Debbas LLP represented a prominent lending institution in connection with a $15.4 Million refinance transaction secured by a luxury condominium unit at 432 Park Avenue, New York, NY. This matter was handled remotely by Scott Krinsky, [...]
READ MORE
Represented Regional Lender in Connection with $23 Million Loan on Loan Transaction
In June 2020, Romer Debbas LLP represented a prominent regional lending institution in connection with a $23 million loan on loan transaction involving a portfolio of commercial properties. transaction closed remotely and was handled by partner Guy Arad and associate [...]
READ MORE
Closed $30 Million Underlying Building Mortgage for Private Bank on NYC Co-op Building
In June 2020, Romer Debbas LLP represented a prominent private bank in connection with a $30 million underlying mortgage on a Manhattan co-op building . This transaction was handled remotely by partner Guy Arad and associate Alison Weisman.
READ MORE
Remotely Handled $8.5 Million Residential Purchase Financing to Close NYC Townhouse Acquisition
In June 2020, Romer Debbas LLP worked hand in hand with a prominent private bank and all parties to a high profile purchase transaction in order to close an $8.5 Million residential loan to enable a purchaser to acquire an [...]
READ MORE
During Lockdown, Residential Dept & Banking Dept Work Together to Close $2.7 Million Condo Purchase with Purchase CEMA
May 2020 - This transaction involved a successful escrow closing for a Condominium purchase with financing and a CEMA (assignment of seller’s mortgage). The attorneys from our residential department (Pierre Debbas, Michael Feldman, Danielle Greco and our paralegal, Maria Lagusis) [...]
READ MORE
Represented Co-op Building in Connection with $9.5 Million Underlying Mortgage
In May, 2020, Romer Debbas LLP represented a large co-op building in connection with a $9.5 million refinance of an underlying mortgage on the building. This enable our co-op building client to eliminate the wrap mortgage of sponsor. This transaction [...]
READ MORE
Agency Lending Team Closed $32.5 Million in Financing on 11 Property Portolio in New Jersey
Done during these unprecedented times, this transaction could have not been signed up at a better time, and executed in a worse time. A roller coaster ride it was, but we prevailed in this one, creating a seamless execution at [...]
READ MORE
Remotely Guided Bank Thru $22.8 Million Residential Refinance Secured by Two Properties in Southampton, NY
In May 2020, Romer Debbas LLP remotely guided a prominent private bank through a complicated refinance transaction involving two properties in Southampton, New York. This matter was handled 100% remotely during the COVID-19 crisis. This matter was handled start to [...]
READ MORE
During Lockdown, Remotely Handled $8.3 Million Loan Transaction for Private Bank to Close Townhouse Purchase
During the COVID-19 lockdown in April 2020, Romer Debbas LLP guided a prominent private bank through a complicated $8.3 Million loan transaction in order to help all parties close a townhouse purchase in NYC. It took a team effort and [...]
READ MORE
Handled $31.5 Million Purchase Financing for Private Bank Secured by Southampton Property
In January 2020, Romer Debbas LLP represented a prominent private banking institution in connection with a $31,500,000.00 purchase loan transaction involving a luxury residential property in Southampton, New York. This matter was handled by Scott Krinsky, Esq.
READ MORE
Represented Lender in $18 Million Refinance of North Salem Residential Propety
In January 2020, the firm represented a national lending institution in connection with an $18 million refinance transaction involving a residential property located in North Salem, New York. This matter was handled by Residential Banking Dept manager Scott Krinsky, Esq. [...]
READ MORE
Romer Debbas LLP Represents Purchaser on Acquisition of Famed Forbes Townhouse
Partners Pierre E. Debbas, Esq. & Michael R. Feldman, Esq. handled contract negotiations & the acquisition of the famed Forbes townhouse (previously owned by the former editor-in-chief of Forbes Magazine, Malcolm Forbes) located at 11 West 12th Street. This transaction has been [...]
READ MORE
Romer Debbas LLP Negotiates Substantial Buy-out for Upper East Side Tenant
Romer Debbas continues to represent a variety of individuals in rent stabilized/controlled apartments buyouts across New York City. This past month, Partner Daniel Gershburg, Esq.successfully negotiated a buyout for a client who lived on the Upper East Side. After lengthy negotiations [...]
READ MORE
Represented Seller of $7,775,000.00 Townhouse Which Came with 99 Year Lease to Outdoor Space
In January 2019, the firm represented a seller of a Manhattan townhouse for $7,775,000.00. The townhouse came with an assignment of a 99 year lease for outdoor space from an adjoining property. The parties also completed an assignment of Seller's [...]
READ MORE
Represented Purchaser of $17,000,000.00 new development condominium unit at 520 Park Avenue.
In December 2018, we represented a purchaser of a condominium unit at 520 Park Avenue for $17,000,000.00. The client was concerned with anonymity in making the purchaser and we were able to structure their ownership with utilizing multiple entity [...]
READ MORE
Represented Purchaser of Record Setting $37,200,000.00 Townhouse in Greenwich Village
In July 2018, we represented a prominent client in connection with the acquisition of a recently redeveloped townhouse for the sum of $37,200,000.00. This was a record setting deal for downtown Manhattan. In connection with this acquisition, we also created [...]
READ MORE
Represented Seller of Four Commercial Building Portfolio for $57 million
In November of 2017, we represented the seller of four (4) building commercial portfolio. All properties were located within New York City and sold for a collective sum of $57,000,000.00. This matter was handled by Guy Arad, Esq.
READ MORE
Closed $38 Million Commercial Loan for Private Bank Secured by Four (4) Properties in Brooklyn
In January 2018, Romer Debbas LLP closed a $38 million commercial credit facility on behalf of a private lending institution. This loan was secured by four (4) commercial properties in Brooklyn, New York. This transaction was handled by Louis Sherman, [...]
READ MORE
Represented Co-op Building in Connection with Underlying Mortgage Refinance ($1,620,000.00 1st & $500,00.00 2nd)
In February 2018, we assisted our client 44-46 West 65th Street Apartment Corp in connection with their refinance of its underlying building mortgage with National Cooperative Bank. The building successfully obtained a $1,620,000.00 first mortgage and $500,000.00 second. This matter [...]
READ MORE
Represented International Investor in Acquisition of 73 Student Housing Apartments in Bethlehem PA for $30,831,000.00
In June 2018, we assisted an international investor in connection with the acquisition of seventy three (73) student housing apartments/buildings located in Bethlehem, PA for the sum of $30,831.00. This matter was handled by Guy Arad, Esq. and Michael R. [...]
READ MORE
Represented Institutional Lender in connection with $12,300,000.00 Acquisition/Construction Loan for Bronx Project
In April 2018, the firm represented Institutional Lender in a construction loan for $12,300,000.00 (acquisition, building and project) secured by a parcel of vacant land in the Bronx. This project consists of a ground up development of Class A mixed [...]
READ MORE
Represented Commercial Lender in connection with $40 million loan secured by 163 unit building in Queens
In March 2018, the firm represented regional commercial lending institution in connection with a $40,000,000.00 loan which was secured by a seven story building containing 163 residential units. This matter was handled by Guy Arad, Esq.
READ MORE
Represented Non U.S. Investor in Purchase of $16 million condominium apartment
In March 2017, we represented a foreign investor in connection with a $16 million acquisition of a new development condominium apartment at 432 Park Avenue. This matter was handled by Pierre Debbas, Esq., Matthew G. Melnick, Esq. and Joselyn [...]
READ MORE
Represented Lender in Connection with $20,100,000.00 Commercial Credit Facility
In December 2016, we represented a prominent regional bank in connection with a commercial credit facility in the amount of $20,100,000.00. The facility was secured by a mortgage against a Manhattan investment property with multiple tenants. This matter [...]
READ MORE
Represented a NYC Developer in $39 million Construction Loan For Chelsea Condominium Development
In November 2016, we represented a NYC real estate developer in connection with a $39,000,000.00 construction loan. This loan will enable our client to complete a luxury condominium development in Chelsea for which the firm is also handling the offering [...]
READ MORE
Represented Developer in $54 Million Acquisition of 519 W 29th st Building for Condo Project
In November 2015, Romer Debbas LLP assisted a developer client in acquiring an industrial building for $54,750,00.00 million as part of a plan to building a condominium project. The firm will also be handling the creation of the condominium (offering [...]
READ MORE
Closed $27 Million Loan for Commercial Lender Secured by Multiple Property Portfolio of Connecticut
In November 2015, Romer Debbas LLP assisted a commercial lender client in connection with a $27 million loan secured by a multiple property portfolio of Connecticut properties. This transaction involved more than a dozen properties and was closed in [...]
READ MORE
Closed $24 Million Refinance of Hotel Property for Commercial Lender
In April 2015, Romer Debbas LLP represented a commercial lender client in connection with a $24 million refinance transaction secured by a midtown Manhattan hotel building. This transaction was handled by Guy Arad.
READ MORE
Represented Seller $34 Million Condo Sale
In May 2015, Romer Debbas LLP represented a high profile seller in connection with the $34 Million sale of combined condominium units. This transaction was successfully handled and closed by Jules Levy, Esq. and Matthew G. Melnick, Esq
READ MORE
Represented Singaporean Investor in $9 Million Condop Acquisition
In March 2015, Romer Debbas LLP successfully closed a $9,000,000.00 purchase of a condop apartment for an investor from Singapore. This transaction spanned almost 2 years and involved the creation of both a New York Limited Liability Company and a [...]
READ MORE
Closed $135 million Sale for Not for Profit Client
In December, 2014, Romer Debbas, LLP successfully represented the seller, United Cerebral Palsy of New York City, in the sale of 122 East 23rd Street, New York, New York. This matter was handled by Sharon Zimmer, Esq., a now retired [...]
READ MORE
Represented Australian Investor in Connection with Land Acquisition for 20 Unit Condo Project
Romer Debbas, LLP recently represented an investor from Australia who acquired a commercial property in Brooklyn with the plan to tear down the property and develop a 20 unit condominium project. At the time, the property was already under contract [...]
READ MORE
Represented Seller of Unique 17.5 Million Townhouse Involving Multiple Hurdles
Romer Debbas LLP recently represented a client in connection with the sale of a $17.5 million townhouse. This transaction involved a unique property which included a cell tower on the roof. This transaction was years in the making and involved [...]
READ MORE
Represented Commercial Lender in Connection 12 Million Loan Secured by Five Properties
Romer Debbas LLP recently represented a prominent commercial lender in connection with a $12 million loan transaction. The loan was secured five (5) separate commercial buildings and involved numerous leases and multiple title searches. The firm was able to coordinate [...]
READ MORE
Assisted Church in Restoring Tax Exemption and Not For Profit Status
Romer Debbas, LLP handles pro-bono matters on an annual basis. One of our pro-bono clients is a church who recently lost their tax exempt status for real estate taxes. The NYC Department of Finance deems certain religious institutions which one [...]
READ MORE
Represented Client from Hong Kong in Connection with 4 Million Condominium Acquisition & Post Closing Property Management
Romer Debbas LLP represented a non-US client from Hong Kong in connection with a purchase of a $4.0 million condominium apartment. In order to shield the client from significant estate tax liability, the firm was able to create a New [...]
READ MORE
IRA Trusts & Life Insurance Trusts Created to Address Clients Unique Estate Planning Needs
Romer Debbas LLP recently assisted some clients with unique estate planning needs. As part of overall estate planning and in addition to basic will preparation, the firm was able to set up both a Life Insurance Trust and an IRA [...]
READ MORE
Assisted Not For Profit in Forming IRC 501(c)(3) & Acquisition of Multi-Family Dwelling
We recently represented a not for profit entity in connection with the acquisition of a mixed use multi-family dwelling worth approximately $1.2 million. There were numerous real estate and tax issues that needed to be addressed. In addition to handling [...]
READ MORE
Created LLC Owned by British Virgin Islands (BVI) Company for Condo Purchaser from Singapore
We recently represented a real estate investor from Singapore in connection with the purchase of a condominium unit worth approximately $1 million. To provide the client with the tax structure it sought, the firm was able to establish a New [...]
READ MORE
Represented Private Bank in Connection with Multi-State $4 million Credit Facility
Romer Debbas LLP recently represented a prominent private banking division of a major institutional lender in connection with a $4 million credit facility secured by properties located within multiple states. This transaction involved the review of numerous title reports and [...]
READ MORE
Obtaining Co-op Board Approval for Foreing Buyer Not Impossible – Represented Brazilian Purchaser of $7.6 Million Co-op Unit
The firm recently represented a prominent Brazilian client who purchased a $7,600,000.00 co-op apartment located on Manhattan’s east side. This is a prime example to demonstrate that a non-U.S. buyer can purchase cooperative apartments and obtain the necessary board approval. [...]
READ MORE
Handled Real Estate & Trusts Aspects of Client’s Acquisition of $17,500,000.00 Co-op Unit
The firm recently represented a client in connection with the purchase of a $17.5 million penthouse co-op unit. In order to meet the privacy and tax planning expectations of the client, we were able to structure and form a trust [...]
READ MORE
Represented Foreing Investor From Israel Acquiring Condo Hotel Unit
We recently represented a prominent foreign investor based in Israel in connection with his acquisition of a condo hotel unit. This matter went into a contract within a mere 48 hours after the client agreed to acquire. We were able [...]
READ MORE
Represented Investors from Singapore and Qatar Each Purchasing 2.5 Million Condo Units in the Same Building. Handled Acquisition & Subsequent Leasing to Tenants
The firm recently represented separate clients from Singapore and Qatar with respect to the purchase of condominium apartments at a prominent condominium building. We were able to provide each client with appropriate tax advise and form entities to suit their [...]
READ MORE
Recently Represented a Seller who Sadly Died Post Contract. Able to Cooordinate Estate Affairs and Close The Real Estate Transaction
Sadly, we were recently faced with a situation where our client (who was selling a New York apartment) died after the Contract of Sale was executed. This was a very unique situation where the client died overseas and maintained residences [...]
READ MORE
The Save a Deal, Romer Debbas Drafts Revised Budget to Satisfy Fannie Mae 10% Line Item Requirement
We recently represented a purchaser of a downtown condominium located in a small building. The purchaser was having difficulties obtaining financing as the building was not in compliance with Fannie Mae’s regulation requiring that condominium associations provide for a line [...]
READ MORE
Represented Private Bank in Transaction Ivnolving Three Custom Loans Totaling $4 million for same Borrower Encumbering Multiple Properties
Romer Debbas recently represented a prominent private bank in connection with a multi-part transaction for the same customer. The private bank extended three custom loans totaling in excess of $4 million to the same client. Each loan was secured by [...]
READ MORE
High End Co-op Properties on the Move. Recently Represented Purchasers of Two Separate $4 million Co-op Unit
In the last month, we represented two separate purchasers in connection with transactions involving high end residential co-op units. In one transaction, we represented the purchaser of a $3.9 million co-op unit as well as the private bank which issued [...]
READ MORE
In One Transaction, Represented Purchaser of $7,650,000.00 Townhouse, Private Bank Issuing $7,000,000.00 Construction Loan, and Negotiated AIA Agreements
Romer Debbas recently represented the purchaser of a $7,650,000.00 townhouse on the upper west side. We negotiated the contract of sale to acquire the property as well as the AIA (American Institute of Architects) agreements necessary to renovate same. In [...]
READ MORE
Application to FDIC Needed to Clear Lien Held by Bankrupt Lending Instition in Order to Save a Sale
We recently represented a seller of a townhouse in upper Manhattan who had owned the property for close to 30 years. Over the course of our client’s ownership, they had refinanced the property several times. When we entered into contract, [...]
READ MORE
Purchase and Combination of a Coperative Unit
Our client owned a unit in a co-op building and purchased the unit adjacent to him with the desire to combine both units. We worked with the purchaser’s lending institution to pay-off the existing loan on his unit and fund [...]
READ MORE
Refinance of a Co-ops Underlying Mortgage
Maintenance and common charge increases have been a common theme in most buildings in Manhattan in 2010. We represent a co-op board that wanted to find a means to decrease expenses and increase their reserve fund without having a significant [...]
READ MORE
Acquisition of a Commercial Property During Forbearance Negotiations with Lender
We recently represented two famous authors in the purchase of a 10,000 square foot commercial landmarked building in Manhattan. The seller is a real estate developer that planned on converting the property to a condominium. Due to the change in [...]
READ MORE
New Fannie Mae/Freddie Mac Building Requirements That are Affecting the New York City Real Estate Market
Government subsidiaries Fannie Mae and Freddie Mac own the majority of residential mortgages in the Country. Therefore, the current regulations which banks are lending under are those enforced by Fannie Mae and Freddie Mac. While the New York City real [...]
READ MORE
Saving a Real Estate Investor From Foreclosure Who Was in Default of His Mortgage, Common Charge and Real Estate Tax Obligations
During the real estate boom an influx of investors entered the New York City market. Some of these investors profited from flipping properties while others bought properties and rented them for extended periods of time. We represented one specific investor [...]
READ MORE
Time of the Essence Letter Enforces Sale on a $8,000,000 Residential Property in Less Than 24 Hours
We recently represented an architect who had purchased a 170 year old townhouse in the West Village and converted it from a 7 unit rental building into a custom mansion. We had entered into contract over the summer with a [...]
READ MORE