May 16, 2023
It’s no secret that the finance industry is volatile. Recent bank failures together with high interest rates have constrained the traditional lending model, with lenders taking a more conservative approach and borrowers looking elsewhere to meet their financing needs. At Cuddy & Feder, that means this is an exciting time for our Finance Practice because we thrive on the opportunity to help our clients close unique and complex finance transactions. 

For example, in the second half of 2022, there was a resurgence of swaps. Many banks once again required their borrowers to enter into swap transactions at closing in order to hedge their interest-rate risk. 
As a result of the conservative approach of institutional lenders this past year, we also saw our developer and real estate investor clients obtain financing for their projects from sources other than institutional lenders, such as private equity and not-for-profit corporations in the community development arena. 
As interest rates remain unpredictable, we expect to continue to see these trends through 2023. We continue to represent national, regional and community banks in re-financing transactions, acquisition loans, mezzanine loans, pre-development loans and construction loans covering a broad array of real estate assets, including, industrial, retail, mixed-use, affordable housing, homeless shelters, self-storage facilities and warehouse facilities. We also represent our clients in making or obtaining unsecured loans and loans secured by non-real estate assets such as accounts receivable. 
Highlighting Our Successful Transactions:
Examples of Transactions We Closed Last Year
  1. Various lending transactions aggregating in the hundreds of millions of dollars for our banking clients.
  2. Represented national developer in a $70,000,000 construction loan for the development of a mixed use, retail and residential complex in White Plains.
  3. Represented local developer in loans aggregating over $50,000,000 in connection with the development of homeless shelters in and around New York City.
  4. Represented family-owned business in $25,000,000 Line of Credit secured by accounts receivable. 
  5. Represented local real estate investor in securing $10,000,000 in private equity.
  6. Represented not-for-profit lender in making a $25,000,000 pre-development loan for an affordable and supportive housing development in the Bronx.
  7. Re-finance transactions aggregating in the hundreds of millions of dollars for our real-estate investor clients.
Meet Our Finance Practice Group:
Get to Know Our Experienced Team
Our finance attorneys have a wealth of experience representing some of the largest lenders including commercial and money-center banks as well as regional and local banks and borrowers – including developers and property owners of all types – in the New York Metropolitan Area and the Hudson Valley Region. Our Finance lawyers have significant experience in handling all types of commercial lending transactions such as acquisition financing, construction and mezzanine financing, term loans, asset-based revolving credit loans, equipment loans and re-financings of all kinds. READ MORE >
Joseph P. Carlucci
Joe is a Partner at the firm and leads the industrial development revenue bond practice. He has worked with large and small corporations on various corporate matters, negotiating business acquisition and sale contracts, employment contracts, and other corporate documentation. Joe has also been involved in lending transactions and has represented real estate entrepreneurs in real estate development projects. Joe is a prominent counselor for industrial development agency revenue bond financings, serving as an agency chair in the past and now representing borrowers, underwriters, and issuers in transactions across the New York metropolitan area and several states.

Kenneth F. Jurist
Ken is a Partner at the firm, primarily focusing on Real Estate. He specializes in affordable housing, including tax credits allocated under Section 42 of the IRC. Ken has overseen the deregulation of multiple entities under New York's Private Housing Finance Law and regularly represents developers of residential communities, such as single-family subdivisions and condominiums. He has also been involved in various commercial real property transactions, including a significant multi-building financing and restructuring in Westchester County.

Michael L. Katz
Michael is a Partner at the firm and Chairman of its Real Estate, Corporate, Finance & Non-Profit Groups. His practice includes a variety of business transactions in areas including complex real estate acquisitions and development, finance and leasing. He regularly serves as counsel to commercial and residential developers, non-profits, landlords and various institutional and other lenders with regard to mortgage, construction, mezzanine and asset-backed financing.
Eon S. Nichols
Eon is a Partner at the firm, and Vice-Chair of the Real Estate, Corporate, Finance, Cannabis Law and Non-Profit Groups. His practice includes all aspects of real estate transactions, real estate financing, commercial lending transactions and leasing. He is also involved in public finance transactions (Industrial Development Agency bond financing) and represents many borrowers, among them non-profit organizations and for-profit companies in tax-exempt and taxable bond financing.
Thomai "Amy" Natsoulis
Amy is a partner who joined the firm in 2010. Amy’s practice involves commercial and residential real estate transactions, commercial lending transactions, leasing transactions, including solar and telecom leases, and various corporate matters involving formation, operating, employment and termination agreements.
Richard J. Sandor, Jr.
Special Counsel
Richard is Special Counsel to the Firm. His principal areas of practice include commercial and residential real estate transactions, real estate financing, commercial lending transactions, leasing, and corporate law. He represents banks, companies, organizations and businesses on a variety of corporate transactions, such as formation, joint ventures and other corporate matters.
Joanne Romano
Special Counsel
Joanne is a Special Counsel at the Firm with over 20 years of experience in commercial real estate law. She specializes in commercial leasing, as well as the acquisition and sale of both residential and commercial real property. Joanne represents a diverse range of clients, from small business owners to national retailers, in their lease negotiations, advising on matters such as store management, employment practices, and brokerage agreements. Her experience includes negotiating leases, subleases, lease assignments, and multi-store acquisitions, including those from companies in bankruptcy.
Tiffany N. Montouth
Tiffany is an associate in the firm’s Real Estate, Corporate and Finance Practice groups. Her practice includes all aspects of transactional real estate law. Before joining Cuddy & Feder, Tiffany worked as an associate with a New York City law firm where she counseled developers, REITs, private funds and individuals on various projects including mixed use, retail and residential properties.
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