Commercial Foreclosures and Workouts
Cullen and Dykman LLP has deep and broad experience representing banks, credit unions and private lenders in commercial foreclosure actions. The Firm has a team of experienced attorneys devoted to handling commercial foreclosures. Several of our partners and counsel have been practicing in the foreclosure area for over twenty (20) years. We have foreclosed mortgages secured by office and retail buildings, large apartment buildings and mixed use properties throughout New York City, Long Island, Westchester, Rockland, Orange and Putnam Counties as well as Upstate New York and New Jersey. We also have prosecuted foreclosure actions in United States District Courts and within the context of Bankruptcy Actions. We know the foreclosure process and keep apprised of the rules and trends as they change and develop. Our attorneys have broad experience in defending against lender liability and other counterclaims as well as addressing issues raised by the courts.
The attorneys at Cullen and Dykman realize that often the best solution is to come up with a non-judicial resolution that maximizes the return for the client while reducing the costs of prosecuting a commercial foreclosure action. To this end, our attorneys work to provide a multidisciplinary approach to representing clients with respect to problem loans. Our attorneys routinely negotiate and document loan workouts, forbearance agreements and the sale of distressed assets. Using the resources of attorneys throughout the Firm, we regularly represent lending institutions in the sale of defaulted or distressed loans to investors. The Firm has been involved in the restructuring of all types of real estate loans, including commercial mortgage loans, construction loans, bridge loans, mezzanine loans and preferred equity investments. Firm attorneys have also been involved in a wide range of commercial loan restructurings ranging from single bank lines of credit, to shared credit subject to intercreditor agreements, to syndicated credits.
- NY Appeals Court Allows Mortgage Foreclosure to Proceed Without Requiring a Copy of Promissory Note in a Transaction Involving a Voidable DeedDecember 19, 2017
- Amendments to the Administrative Code of the City of New York and the Rules of the City of New York Requiring Process Servers to Carry a Global Positioning System to Record Location and Time of Service of Process May Remedy “Sewer Service” ProblemMay 21, 2012
- Recent Federal Court Decision Finds NYSDOT's Standard Settlement Agreement Unenforceable Because Of A Lack Of ConsiderationMarch 15, 2010