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Commercial Mixed Use NYC Property

In 2020, represented a private distressed debt fund in the purchase of both a senior secured first mortgage loan and separate mezzanine loan. Upon acquisition of the both loans, worked with the client team to develop an enforcement strategy including standing still on the mortgage loan and engaging in a UCC article 9 sale of the pledged mezzanine interest. Our role included assisting the client in the proper marketing of the asset under the requirements of UCC Article 9, framing the Terms of Sale, notice and advertising compliance, and structuring the UCC sale process to comply with current developing case law during the Covid crisis.