Joshua Stein

PLLC

News/Events

Ground Lease Presentation at ACREL Annual Meeting

Investing in ground leases has been a common way for risk averse real estate investors to realize safe and steady returns. At the ACREL Annual Meeting in New Orleans from October 18 – 21, 2018, Joshua Stein will speak as a part of a panel on Possession Isn't Nine-Tenths of the Law: Sophisticated Ground Lease Transaction Trends.

The presentations will address how a ground lease fits into the capital stack and how cash flows are distributed. In addition to discussing more typical concerns about financeability of the leasehold, the panelists will consider what makes a fee estate financeable, and what fee mortgagees should expect to see in a ground lease. The agenda will also examine the perils of rent resets and how to avoid them, plus rights of first refusal. Joshua Stein will submit program materials on most of the issues the panel will cover.

Leading PLI's Commercial Real Estate Financing Program for 22nd Year as Faculty Chair

For the 22nd consecutive year, Joshua Stein chaired Practising Law Institute’s Commercial Real Estate Financing seminar in New York City, April 10-11. Among the topics discussed were the state of the commercial mortgage financing market, ground leases as collateral for both landlords and tenants, and why it might be best to skip delivering or accepting an SNDA.

14th Edition of Who's Who Legal Lists Joshua Stein Among Top 10 Real Estate Lawyers in the USA

The 14th edition of Who’s Who Legal: Real Estate 2017 has recognized Joshua Stein as one of the ten “Most highly regarded individuals” in the United States. Stein is the only one in the group not in a large firm. Lawyers are chosen from independent surveys with private practice lawyers and general counsel worldwide. Click the link below to view the survey.

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NYSBA Publishes Third Edition of Commercial Leasing

Joshua Stein has edited and contributed almost half the chapters and sample documents of the newly revised Third Edition of Commercial Leasing, published by the New York State Bar Assocition. The two-volume treatise covers the full range of commercial lease negotiations, with an emphasis on preventing unpleasant surprises and matching the lease to the overall business agendas of the parties. For more information and to place an order via the NYSBA website, click the first link below. Click the second link to examine the Table of Contents.

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Firm Closes Miami Design District Loan

Credit Agricole engaged Joshua Stein PLLC to negotiate and close a loan in the Miami Design District. Joshua Stein and JSPLLC counsel Debora L. Goldman handled the transaction. They have closed a series of Miami Design District loans for Credit Agricole, dating back to 2011.

Firm Develops Simplified Template for Junior/Senior Participations

For Aristone Capital, Joshua Stein PLLC developed a simplified template for junior/senior participation agreements, and then, with that template, closed a series of participation transactions.

Firm Principal Named One of Best Lawyers in New York City 2017

Best Lawyers Magazine named Joshua Stein as one of the “Best Lawyers in New York City 2017.” The publication compiles the list by conducting peer-review surveys among colleagues who confidentially evaluate their professional peers. Click the link below to view Joshua Stein’s listing.

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Special Ground Lease Counsel for Mixed Use Development in Charleston, S.C.

For a mixed-use development on a large site near the USS Yorktown in Charleston, South Carolina, Joshua Stein acted as special ground lease counsel with the developer’s South Carolina legal team. He advised on and reviewed the ground lease for the overall project and helped create a structure for the phased development process. The Patriots Point Development Authority signed definitive documents in mid-April.

Firm Represents Acquirer of Several Ground-Leased Office Buildings

Joshua Stein PLLC represented the acquirer of several ground-leased office buildings in Midtown Manhattan, including negotiating a ground lease and partly nondisturbed sublease structure. Joshua Stein oversaw the transaction with help from of counsel Deborah Goldman and associate James Patalano.

Pro Bono Representation for New York Stem Cell Foundation

Joshua Stein PLLC represented the New York Stem Cell Foundation in negotiating its new 41,000-foot lease at 619 West 54th Street. Joshua Stein and Lauren Silk handled the lease on a pro bono basis. Joshua has acted as pro bono real estate counsel for the Foundation since its founding in 2005.

More Distribution Centers Coming

Joshua Stein PLLC represented a national developer of distribution centers in all its New York area acquisitions and financings, and is now handling two more for the same client. Of counsel Deborah Goldman and associate James Patalano work with Joshua Stein on these transactions.

Firm Represents Movie Theater Tenant Throughout the United States

Joshua Stein PLLC represented the tenant in negotiating movie theater leases all over the United States. This work continues as the firm represents that client in pursuing more leases. Of counsel Deborah Goldman handles most of this work with continued oversight by Joshua Stein.

Building-Specific Lease Template Used in Major Midtown Building

Joshua Stein PLLC continues to represent a major Midtown Manhattan office building in all its leasing, including several full-floor or larger leases in the last few months. Of counsel Lauren Silk works with Joshua Stein on these transactions. She also updates and improves the building-specific lease template after each negotiation. The resulting document protects the landlord without requiring excessive negotiations, and aligns with the client’s strategy for leasing and operating the building.

MBANY Appoints Board Member

Joshua Stein was appointed to the board of the Mortgage Bankers Association of New York, www.mbany.org. He will continue to chair MBA’s education committee, which he has done for more than five years.

Goldman Named Leasing Co-Chair

Deborah Goldman, Of Counsel at Joshua Stein PLLC, has been appointed as a downstate co-chair of the New York State Bar Association’s Commercial Leasing Committee. Working with upstate co-chair Sujata Yalamanchili and additional downstate co-chair Robert J. Shansky, Goldman will help coordinate the committee’s quarterly meetings and special projects. She brings to her new post almost 25 years of experience in commercial real estate law, with an emphasis on leasing, as well as an MBA in real estate finance.

Two Stein Books Slated For Second Editions

Two of Joshua Stein's publishers have exited the book publishing business, leaving him with the rights to two of his titles: Lender's Guide to Structuring and Closing Commercial Mortgage Loans (2004) and A Guide to Ground Leases (With Forms and Checklists) (2005). Stein plans to write second editions of each of those books and publish them himself. In preparation for that process, comments and suggestions from readers and potential readers are invited. Please direct any comments or suggestions to joshua@joshuastein.com.  

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