Duane Morris LLPPartner

Jay Steinman

About Jay Steinman

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.

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Services

Areas of Law

  • Real Estate 1
    • Commercial Real Estate
  • Finance
  • Other 2
    • Financial Markets and Services
    • Business

Practice Details

  • Firm Information
    Position
    Partner
    Firm Name
    Duane Morris LLP
  • Representative Cases & Transactions
    Cases
    Representative 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.
    Transactions
    Represented 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

  • Bar Admission & Memberships
    Admissions
    1983, Florida
    Memberships

    Professional 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 & Certifications
    Law School
    University of Miami School of Law
    Class of 1983
    J.D.
    cum laude
    Other Education
    Dickinson College
    B.A.
    magna cum laude

    Dickinson College
    B.A.
    1980 Phi Beta Kappa
  • Personal Details & History
    Age
    Born in 1958
    Abington, Pennsylvania, 1958

Jay Steinman

Partner at Duane Morris LLP
Not yet reviewed

201 South Biscayne Boulevard, Suite 3400Miami, FL 33131U.S.A.

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