Mortgages on commercial property are often a major — sometimes even the largest — component of a growing or established business's expenses. Especially in a real estate market where volatility has been intense and sustained, an expense audit or business review may lead to important questions about refinancing options to free up capital.
In other situations, business owners and stakeholders run into temporary financial challenges that lead to default on a commercial mortgage and, ultimately, a foreclosure lawsuit. In a wide range of situations, we have helped our clients refinance a mortgage or develop a clear plan for dealing with adversity and moving forward.
Counsel and Representation Tailored to Specific Client Business Goals
At Cox Padmore Skolnik & Shakarchy LLP (CPS&S), a cohesive, interdisciplinary team of deeply experienced lawyers helps business clients evaluate all options for better managing their real estate holdings. In addition to handling a wide range of commercial real estate transactions involving the acquisition and disposition of property, we are adept at:
- Building the best possible business case for refinancing to present to an institutional or private lender
- Approaching all financing and refinancing cases with insight based on decades of experience counseling commercial lenders as well as business property owners — along with current, in-depth knowledge of real estate values and market conditions throughout our service areas in New York and New Jersey
- Assessing business sustainability, tax consequences and other key factors to be considered in any bid for commercial property refinancing, in order to propose a refinancing arrangement that presents a genuine opportunity for success through a change in payment terms, reduction in interest or principal, or other negotiated compromises
Contact Our NYC Loan Modification Attorneys
To work closely with attorneys knowledgeable in New York mortgage refinancing and other options for businesses facing financial challenges, contact our main offices in New York City. We welcome inquiries from local, out-of-state and international business owners with property interests in our service areas.