Press Coverage

Should an attorney have a financial stake in a client? What if a firm's independently managed investment fund participates in the deal instead? Law360 quoted Joshua Stein.

SIOR, the Society of Industrial and Office Realtors, quoted Joshua Stein in its featured article for Winter 2023, “Regulatory Entitlements In The U.S.: What Brokers Should Know.” Stein said brokers who work on development projects “need to cultivate not only a general -- but also a hyperlocal -- understanding of entitlements.” Referring to discretionary approvals, Stein spoke of NYC’s lengthy public review procedure, “ULURP” (Uniform Land Use Review Procedure): “It’s a 200-day process once you file your application, but putting together a proper ULURP application itself takes months.”

The Wall Street Street Journal quoted Joshua Stein in its July 4, 2023 article, "Office Turmoil Roils Ground Lease Negotiations." In a commercial real estate market facing high interest rates and a post-pandemic weak return-to-office rate, Stein commented, "If I am a ground-lease tenant, right now is probably a good time to be doing a rent reset," adding "The value of land is declining dramatically." Because of recent steep ground rent increases "There have been a lot of horror stories" in the world of ground leases.

The Real Deal asked Joshua Stein about the pitfalls of structuring ground lease resets in its June 2022 article “Rethinking the Ground Lease.” The article discusses how inflation-based rent solved one problem but now creates another.

Laws now protect small businesses ravaged by the Covid-19 pandemic from big landlords, but what about protecting small landlords from big tenants? The Real Deal asked Joshua Stein to comment.

Should a commercial tenant be able to withhold rent or terminate its lease during the Covid-19 lockdown by asserting the doctrines of frustration or impossibility? The New York Times asked Joshua Stein to comment.

After reaching a regulatory agreement with Blackstone, the owner of Stuyvesant Town-Peter Cooper Village, in 2015, the city has more recently decided to side with the tenants against the city's own deal. The Real Deal asked Joshua Stein to comment.

Digital lifestyle and women's apparel brand Something Navy signed a lease for its first brick-and-mortar location on NYC's Bleecker Street, which has attracted a number of online businesses opening physical locations. Joshua Stein PLLC represented the landlord.

When a judge ordered a developer to demolish the top floors of a nearly finished condo building, could the construction lender declare a default? The Real Deal asked Joshua Stein's opinion.

The master-lease structure for pre-stabilized developments is often used to secure financing. Developers forgo higher rent in the future in exchange for income now. The Commercial Observer asked Joshua Stein what he thinks of the practice.

The New York Post asked Joshua Stein to comment on the Sears bankruptcy case and St. Jude's pending claim for funds it's owed from a Kmart fundraising drive.

The New York Post asked Joshua Stein to comment on the decision of bankrupt retailer Sears not to sell the leases of its closed stores in the article "Sears Quietly Paid Rent On More Than 200 Shuttered Stores."

Recent investigations of the Kushner Companies have already led the firm to upgrade its legal team, but what strategy would a firm like theirs need as scrutiny gets ever more intense? The Real Deal asked Joshua Stein to comment.

As far as lenders and developers are concerned, the less said, the better about loan modifications. The Real Deal asked Joshua Stein to explain why.

Bloomberg.com asked Joshua Stein to comment on why President Trump's longtime personal attorney, Michael Cohen, had to add his $9 million Park Avenue apartment to collateral already pledged against existing bank loans.

The choicest Manhattan retail neighborhoods are no longer immune from the nationwide retail slump. What effect has the plunge in rents had on the investment value of retail space? Joshua Stein is quoted in The Wall Street Journal.

What effect will the Midtown East rezoning really have on development? What difficulties do developers face that Chase won't have to as it demolishes and rebuilds its headquarters at 270 Park Avenue? Law360 asked Joshua Stein to comment.

Expectations are high for the Hudson Yards despite the dismal state of retail across the country. Why? What is so different about this megadevelopment that its $18 billion of financing is considered secure? Joshua Stein is quoted in The Real Deal.

Although construction loan modifications may be happening with more frequency in today's condo market, don't expect to hear anything from the parties involved. Why the silence? The Real Deal asked Joshua Stein to comment.

Starbucks and mall owner Simon Property Group have settled their dispute, and the coffee giant can close its 77 stores in Simon's malls. But that isn't not the end of the story. The Commercial Observer asked Joshua Stein to comment on the lasting impact of the litigation.

The lease on Barneys New York flagship store expires in 2019, and any extension must be at fair market value. Since neither side can agree on a number, the retailer's decision to stay at its current location depends on what an arbitrator says. In which direction are trends pointing for retail rents? The New York Post asked Joshua Stein to comment.

Real estate litigator and Fox News commentator Stephen Meister has taken on some of the most controversial cases in the industry. The Real Deal asked Joshua Stein if there is a common thread running through most of this litigation.

The nation's largest shopping mall operator obtained an injunction preventing Starbucks from closing all 77 Teavana stores located inside its malls. The court decided that the coffee giant could handle the financial burden better than the mall owner. Was this correct? The New York Post asked Joshua Stein.

A complicated financing scheme at what is slated to be New York City's tallest residential building has resulted in a turmoil of mistrust, foreclosure and legal expenses, among other woes. The Real Deal asked Joshua Stein to comment on the current situation.

The high-profile Macklowe divorce trial is more than just the fodder for the tabloids. As a developer with several ongoing projects, Harry Macklowe must contend with loan covenants tied to his liquidity and net worth. Lenders, among others with financial stakes in his projects, are watching the proceedings closely. Joshua Stein is quoted in The Real Deal.

How will the value of a property be affected by a high-profile crime on the premises? What are the obligations of the seller, broker and buyer? Are there special contract terms to consider? Joshua Stein is interviewed in the Architectural Digest.

Is the byzantine organizational structure of a large residential condo under development on New York City's "Billionaires' Row" that unusual? Joshua Stein is quoted in The Real Deal.

Even as the market shifts in NYC, transactional real estate lawyers are still busy. Interviewed by The Real Deal, Joshua Stein discusses the types of transactions that consume the most legal services.

Proper due diligence is more than just a formality in commercial real estate. The Commercial Observer interviewed Joshua Stein about what lawyers need to do before giving thumbs up to a deal.

A giant mall operator filed a lawsuit to stop Starbucks from closing all the Teavana stores in its properties. Should the landlord prevail? The New York Post asked Joshua Stein to comment.

New York's popular 421-a tax abatement was replaced with a new program called Affordable New York. How well will it work? Joshua Stein is quoted in Real Estate Finance & Investment.

In recent years CMBS loan documents have grown in size and become increasingly complicated. Is there anything wrong with that? This article discusses the unique characteristics of CMBS agreements and the reasons why these documents continue to expand. Joshua Stein is quoted on this growing trend.

As foreclosure rates and retail vacancies rise, residential rents are actually falling in some markets. What's happening in New York real estate? Joshua Stein is quoted on current market trends.

Alternative lending has become a routine source of commercial real estate financing. Quoted in Commercial Real Estate Direct, Joshua Stein discusses what led banks to change their outlook on lending.

New York condo developers would rather offer incentives to buyers and brokers than lower their official prices. Are they just denying the reality of the current market? Joshua Stein is quoted in Bloomberg.com.

President-Elect Trump has not shown an inclination to resolve conflict-of-interest concerns by divesting his businesses. Are all of Trumps assets difficult to divest, even if he wanted to do so? Joshua Stein is quoted in Bloomberg Businessweek.

How will the Trump administration affect real estate in New York? The New York Times canvassed post-election views of the real estate community, including Joshua Stein.

In 2015 New York City's Local Law 50 placed a two-year moratorium on the conversion of hotels with more than 150 rooms to condominiums. The Commercial Observer interviewed Joshua Stein on the law's implications.

The success of Adam Leitman Bailey's eponymous real estate law practice has been recognized by many in the field, including Joshua Stein. The Commercial Observer asked Stein, who founded his own eponymous real estate law practice after many years as a partner at a large firm, to comment on Bailey's abilities and accomplishments.