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New York Legislature Passes Bill Banning Rent Minimum Provisions in Real Estate Loan Documents

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On June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents....more

Cadwalader, Wickersham & Taft LLP

Ex Parte Appointment of a Receiver Confirmed

The New York County Supreme Court recently held that in the event of foreclosure, a receiver can be appointed, regardless of necessity, when the parties have contracted for such appointment. 24 West 57 APF LLC (“Defendant”)...more

Cadwalader, Wickersham & Taft LLP

Real Estate Reserves October 2021 - Basics of Reserves

Reserves are amounts deposited with a lender as security for an obligation expected to occur at a future date, and can serve various functions. The following is an overview of typical reserves in a real estate finance...more

Cadwalader, Wickersham & Taft LLP

Something Special, April 2021 | Issue No. 23: What’s So Special about Special Purpose Entities?

Lenders often require their borrowers to be “special purpose entities” in real estate transactions. This is a way that lenders can mitigate their bankruptcy risk in the event that the borrower or any of its parent entities...more

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