In 2022, the real estate and real estate capital markets suffered their third major disruption in just 15 years. The real estate market has benefited from crisis management, responded to by the Federal Reserve. Mezzanine loans and preferred equity have been the go-to subordinate financing for owners in need of additional funds to restructure and/or recapitalize their projects with an eye to obtaining more workable terms from banks on senior loans.
August 4, 2023
400 new affordable apartments were announced for the Financial District this past week. Roughly a third of the new buildings at 5 World Trade Center, will be set aside for middle- and working-class New Yorkers, with 80 of those apartments earmarked for people who lived and worked near the old World Trade Center as well… Read more »
May 22, 2023
“The mortgage refinancing boom is over, but its impact will be seen for decades to come”. Fed data shows that about 14 million mortgages were refinanced during the pandemic period starting in March 2020. Some 64% were considered “rate refinances,” or homeowners looking to take advantage of lower borrowing costs. Average savings totaled about $220… Read more »
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