Jay Steinman is a lawyer practicing financial markets and services, business, commercial real estate and 1 other area of law. Jay received a B.A. degree from Dickinson College, and has been licensed for 43 years. Jay practices at Duane Morris LLP in Miami, FL.
Reviews for Jay
Services
Areas of Law
Practice Details
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Firm InformationPositionPartnerFirm NameDuane Morris LLP
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Representative Cases & TransactionsCasesRepresentative Matters: Commercial Real Estate Acquisition, Development
Finance: Represented buyer in $95.5 million all-cash acquisition of an existing 165,586 square feet nanotechnology research
development/laboratory building
adjacent 49,165 square feet expansion building currently under construction in Alachua, Florida, together with the acquisition of an additional three fully developed
leased light manufacturing facilities
nine parcels of vacant l
.
Represented developer/investor in a joint venture for the acquisition, financing, development, management
leasing of a residential project located in Sarasota County, Florida, including review of due diligence, acquisition, title
survey,
project documentation,
documentation of joint venture terms.
Represented owner-developer in negotiation
closing of $30 million CMBS loan secured by shopping center located in Miami Lakes, Florida.
Represented purchaser in $45 million acquisition of office tower located in the Brickell area of the City of Miami, Miami-Dade County, Florida.
Represented investor group in the $31 million acquisition of medical
technology park in Jupiter, Florida
the negotiation of related CMBS
mezzanine financing.
Represented developer in negotiation of documents relating to development
construction of Hampton Inn
related amenities in Coconut Creek, Florida, including organizational, franchise, management
construction contracts
documentation for construction loan.
Represented developer in negotiation of documents relating to development
construction of Holiday Inn Express Hotel
Suites
related amenities in the Kendall, Florida including organizational, franchise, management
construction contracts
documentation for construction loan.
Represented seller in $100 million sale of adjacent 7-acre parcel of vacant l
on which purchaser intended to construct luxury condominium units including negotiation of Cross Access
Reciprocal Easement Agreements governing continued use, operation
maintenance of sites located in the City of Miami, Florida.
Represented investor in proposed $130 million purchase of luxury condominium project to be constructed in Miami Beach
Miami, Florida.
Represented seller in $34.2 million sale of ownership interests in company holding title to apartment complex located in Jacksonville, Florida.
Represented seller/ground lessor in $12 million agreement to enter into ground lease
purchase improvements, lease-back,
reciprocal easement
operating agreement relating to two medical professional builds
parking garage located within hospital campus, in the Coconut Grove area of the City of Miami, Miami-Dade County, Florida.
Represented a developer in the construction
financing of a 175 room hotel in Surfside Florida, including coordination of a joint venture, negotiation of the general contractor's agreement,
negotiation of documents for a $35 million construction loan.
Commercial Real Estate Finance: Represented lender in a $68.5 million construction loan to finance the construction
development of a 55+ active adult residential community, consisting of 303 villa units, 112 apartment units
a 24,000 square-foot clubhouse in central Florida.
Represented lender in a $64.6 million loan to be used by Borrower to finance the acquisition of four marinas in Florida.
Represented lender in a $59.6 million loan to be used by Borrower the finance the acquisition of a leasehold interest in a Class A multi-tenant office building located in Fort Washington, Pennsylvania.
Represented lender in a $10.4 million loan to be used by Borrower to finance the acquisition of a 160,000 square foot community shopping center located in Roswell, Georgia.
Represented participant lender in $345 million loan to finance the construction of luxury condominium buildings consisting of residential units, commercial space
space parking garage
related improvements, located in the City of Sunny Isles Beach, State of Florida.
Represented lender in $64 million loan to finance the acquisition
to fund certain renovations thereto
other costs associated with the condominium conversion of rental apartment project
related improvements located in the City of Doral, State of Florida.
Represented lender, as local counsel, in a $80 million loan for the construction of a mixed-use luxury apartment tower in downtown Miami.
Represented lender in connection with a $48 million loan for the construction of a condominium/hotel project containing condominium/hotel residences, private condominium units, boat slips,
related improvements in Fort Lauderdale, Florida, involving a submerged l
lease
the negotiation
of intercreditor
other loan documents with mezzanine lender.
Acted as local counsel for lender in $50 million acquisition
construction loan involving rehabilitation,
conversion
construction of new condominium project on waterfront property in the City of Miami, Miami-Dade County, Florida.
Represented lender in $30 million acquisition
construction loan for condominium project in which the equity was provided by Fannie Mae, acting through its American Communities Fund in the Little Havana Home Ownership Zone area of the City of Miami, Miami-Dade County, Florida.
Represented lender in $30 million construction loan for affordable multi-family apartment project located in Florida City, Miami-Dade County, Florida involving low income housing tax credits, SHIP loan financing
financing advanced pursuant to Fannie Mae Forward Financing Agreement.
Represented co-lender in $84.75 million financing for the construction of a mixed-use residential
retail condominium project
associated parking garage located in Delray Beach, Florida.
Represented lender in $37 million acquisition/renovation loan to finance the acquisition
to fund certain renovations thereto
other costs associated with the condominium conversion of unit rental apartment project
related improvements located in the City of North Miami, Florida.
Represented lender in $130 million financing of the acquisition, development
construction of a condominium project located in the Brickell area of Miami, Florida.
Represented lender in $35 million acquisition/renovation loan to finance the acquisition
to fund renovations
other costs associated with the condominium conversion of office building together with attached, multi-level parking garage
related improvements located in Coral Gables, Florida.
Represented lender in $24.1 million construction loan to finance the construction of 129 townhouse units within twenty-four (24) two-story buildings
related improvements, located in the County of Palm Beach, State of Florida.
Commercial/Asset Based Finance: Represented a lender in $200 million senior asset-based revolving credit facility to aviation industry borrower.
Represented lender in connection with a $40 million revolving credit facility secured by Zurich
EXIM-insured foreign accounts receivables.
Represented lender in connection with a $7.5 million asset based revolving credit facility secured by highly transient collateral, requiring the negotiation of multiple l
lord lien waivers
addressing issues with distribution
similar agreements.
Represented lender in modification
analysis of $144 million loan facility collateralized by marketable securities, aircraft
aircraft engines involving complicated trust, estate
collateralization issues.
Represented lender in $25 million guidance line of credit to tax credit syndicator to provide construction loan financing for affordable housing developers across the United States of America.
Represented a commercial bank in a $110 million revolving credit facility to the largest producer of ornamental plants in the world.
Distressed Loan Work: Represented lender in connection with a structured settlement involving mixed use condominium project located in Coral Gables, Florida
a court approved purchase
sale of lender's secured claim.
Represented lender in a loan workout with a warehouse lender involving multiple deeds-in-lieu
loan assignments involving commercial
residential properties throughout the state of Florida.
Represented lender in connection with a contested loan workout
settlement,
the subsequent loan sale, involving a luxury boutique hotel located in West Palm Beach, Florida.
Represented lender in loan workout involving residential condominium units in two projects including the exclusive use of the parking spaces
storage spaces appurtenant thereto,
all improvements included therein, the residential portion of a mixed-use building located in the Midtown area in the City of Miami including deed-in lieu
subsequent bulk sale of property.
Represented lender in workout of loan facility to not for profit company involving collateral consisting of several affordable housing projects.
Represented lender in several sales of multi-million-dollar commercial loan portfolio pools
documented the purchase money financing thereof.
Represented real estate investment
asset management company in the negotiation, forbearance
cross-collateralization of $40 million judgment liens secured by real property in Mississippi, Texas, Florida, New York, Iowa,
South Carolina.
Represented lender in the negotiation of a forbearance
loan modification agreement in connection with a $14.8 million loan, secured by a mixed used hotel condominium project on Miami Beach, involving analysis of multiple condominium documents
covenants, title issues, hotel management issues,
ongoing disputes between the borrower/developer
the association.
Represented lender in connection with the negotiation
preparation of a settlement agreement
stipulation for entry of judgment with borrower
guarantors in connection with a defaulted $20 million loan
the subsequent purchase
sale of foreclosure judgment, including the resolution of multiple issues resulting from the borrower/developer's misnumbering of certain units inconsistent with the condominium declaration, requiring a reformation action
coordination with unit owners
mortgagees, the title company, the Miami-Dade property appraiser's office,
the Miami-Dade tax collector's office.TransactionsRepresented lenders in over $150 million in note sales over the past 12 months; Represented lenders in over $500 million in loan workouts involving condominium, hotel condominium, multifamily lenders in over $500 million in loan workouts involving condominium, hotel condominium, multifamily, office, retail, and hospitality projects over the past 12 months; Represented note purchasers in acquisition of approximately $50 million in mortgage loans involving fractured condominium projects over the past 12 months; Representation of lenders in two cross-collateralized syndicated construction loans in the aggregate amount of $250 million for retail, office and hotel complex consisting of, a 750,000 square-feet, 46-floor commercial office building and a 42-story hotel in downtown Miami, Florida; Represented purchaser in $19,300,000 acquisition of two shopping centers containing approximately 175,000 rentable square feet located in the Miami Gardens, Florida; Represented seller in $48,000,000 sale of office park consisting of approximately 176,306 rentable square feet located in Miami-Dade County, Florida; Represented seller in $98,000,000 sale of approximately 7 acres of water front vacant land in the Miami, Florida; Represented seller in $34,200,000 sale of ownership interests in company holding title to apartment complex located in Jacksonville, Florida; Represented purchaser in $13,650,000 acquisition of two shopping centers containing approximately 32,000 rentable square feet located in the Pinecrest, Florida; Represented European fund in proposed $30,000,000 investment in company to renovate and construct luxury spa resort facility located in Miami Beach, Florida; Represented investor in proposed $130,000,000 purchase of luxury condominium project to be constructed in Miami, Beach and Miami, Florida; Acted as local counsel and performed land use and zoning due diligence for lender in $100,000,000 acquisition loan to finance the borrower's purchase of 92,000 acres in Charlotte and Lee County Florida; Represented co-lender in $84,750,000.00 Loan to finance the construction of a mixed-use residential and retail condominium project, and an associated parking garage located in Delray Beach, Florida.
Experience
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Bar Admission & MembershipsAdmissions1983, Florida
MembershipsProfessional Activities
•American Bar Association
•The Florida Bar
- Real Estate and Probate Section
•Greater Miami Chamber of Commerce, Chairman Circle
•Greater Miami Chamber of Commerce and The Beacon Council -
Education & CertificationsLaw SchoolUniversity of Miami School of Law
Class of 1983
J.D.
cum laude
Other EducationDickinson College
B.A.
magna cum laude
Dickinson College
B.A.
1980 Phi Beta Kappa
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Personal Details & HistoryAgeBorn in 1958
Abington, Pennsylvania, 1958
Jay Steinman
201 South Biscayne Boulevard, Suite 3400Miami, FL 33131U.S.A.
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