With the help of Cuddy & Feder’s Real Estate Transactional team, Rivertowns Square, the mixed-used luxury shopping center, secured the financing it needed to open in 2016.
Cuddy & Feder’s Finance Law Practice Group has 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.

In addition, Cuddy & Feder’s Finance lawyers have the experience and sophistication to meet the needs of clients seeking Industrial Development Agency (IDA) Financing, whether it is for-profit or non-profit bond financing or straight-lease transactions. We represent borrowers, industrial development agencies, trustees and underwriters in large and small IDA transactions nationwide.

Our finance attorneys have assisted many property developers with IDA straight-lease transactions. These transactions are often done in conjunction with bank loans – especially construction loans – and provide to our clients mortgage recording tax exemptions and sales tax exemptions, as well as real property tax abatements, reduced energy costs and similar governmental benefits.

We routinely assist clients, such as manufacturers, developers and not-for-profit entities – private schools and colleges, social service agencies, cultural institutions and municipal facilities – looking to develop shopping centers, office complexes or multi-family housing projects (both market rate and affordable housing, sometimes employing low income housing tax credits), structure and secure bond financing to finance their projects. Bond Financing can be an attractive option as it typically offers interest rates well below comparable bank loans and an extended repayment term, generally 30 years or longer, that can significantly reduce debt service on a project. Bond Financing also provides mortgage recording tax exemptions, sales tax exemptions, as well as real property tax abatements and often involve empire zone benefits, an allocation of tax credits or other forms of governmental incentives.

SERVICES

Commitment letters

Mortgage and asset-backed lending

Distressed debt acquisition, loan workouts and restructurings

Term loans

Equipment loans

Construction loans

Acquisition loans

Permanent financing

Mezzanine loans

Tax-exempt and taxable bond financing

Straight-lease transactions

Mortgage and sales tax exemptions

Real property tax abatements

Energy cost reductions

Revolving credit agreements and other loan documentation

Swaps, caps, collars and other derivatives

Lines of credit

Inter-creditor agreements

Letters of credit

Eon Nichols discusses the basics of IDA financing and how it can be beneficial for real estate developers and owners.
On Tuesday, March 10, 2020, Ilanna Gibson, Associate in the Real Estate, Corporate and Finance groups will present on a panel at the Hudson Valley Young Professionals event titled Building Wealth Through Real Estate.
Eon S. Nichols is Partner and Vice-Chair of the Real Estate, Corporate, Finance and Non-Profit groups at Cuddy & Feder and serves on the board of African American Men of Westchester (AAMW).
Cuddy & Feder understands not only the law but more importantly what business is all about and how it should work. There is real value here for what you pay for.
Phil Raffiani, President, Mirado Properties Inc.