Sale of $36.5 Million Defaulted Mortgage Loan

Client
Representation of client in connection with sale of defaulted mortgage loan with an approximate principal balance of $36.5 million. The loan collateral was a multifamily project located in the Bronx, New York. The heavily negotiated agreement for sale and purchase was accomplished through the sale of the membership interest in the entity that owned and held the loan.
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Experience
Handled billions of dollars in distressed debt related to modifications, extensions, forbearances, discounted payoffs, and deeds in lieu of foreclosure.
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