Morrison Foerster is an international law firm with lawyers practicing throughout the United States, Asia, and Europe. Click to discover more.

mofo_share_image.jpg

Morrison Foerster

common-default.jpeg

Terms / Notices

Cookies

Privacy Policy

Reporting Hotline

Attorney Advertising

Alumni

  Linkedin

MoFo LinkedIN

  Facebook

MoFo Facebook

YouTube

MoFo Youtube

Morrison Foerster - Footer

New York Extends Commercial Eviction and Foreclosure Moratorium

You have not solved the recaptcha challenge yet or session expired, try again.

Email Disclaimer

Disclaimer

Unsolicited e-mails and information sent to Morrison Foerster will not be considered confidential, may be disclosed to others pursuant to our <a href="https://www.mofo.com/about/privacy-policy.html">Privacy Policy</a>, may not receive a response, and do not create an attorney-client relationship with Morrison Foerster. If you are not already a client of Morrison Foerster, do not include any confidential information in this message. Also, please note that our attorneys do not seek to practice law in any jurisdiction in which they are not properly authorized to do so.

Feedback

mofo-logo-2022.svg

People

Capabilities

Resources

About

Culture

Offices

Careers

Stay Connected

On October 5, 2020, New York Governor Andrew Cuomo signed Executive Order 202.67, extending the moratorium on commercial evictions and foreclosures through November 3, 2020.

We are Morrison Foerster — a global firm of exceptional credentials. Our clients include some of the largest financial institutions, investment banks, and Fortune 100, technology, and life sciences companies. Our lawyers are committed to achieving innovative and business-minded results for our clients, while preserving the differences that make us stronger.Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Prior results do not guarantee a similar outcome.

About Morrison Foerster

people-default-header-desktop.jpg

people-default-header-mobile.jpg

Default Meta Data

On October 5, 2020, New York Governor Andrew Cuomo signed <a href="https://www.governor.ny.gov/news/no-20267-continuing-temporary-suspension-and-modification-laws-relating-disaster-emergency" target="_blank">Executive Order 202.67</a>, extending the moratorium on commercial evictions and foreclosures through November 3, 2020.This Executive Order was signed less than three weeks after <a href="/resources/insights/200928-new-york-extends-protections.html">Executive Order 202.64</a>, which had extended the moratoriums through October 20, 2020. The Governor’s office did not comment on the quick turnaround or on the fact that the extension only added two weeks to the previous deadline.We will continue to monitor future Executive Orders and will provide further updates as they become available.

New York Extends Commercial Eviction and Foreclosure Moratorium

Sign Up

Mark Edelstein is chair of Morrison Foerster’s Global Real Estate Group and co-chair of the Distressed Real Estate Group. He has over three decades of experience representing leading financial institutions, real estate companies, owners, acquirers, sellers, and investors in some of their most high-profile transactions. In the recent words of clients, Mark is “without question one of the most talented real estate legal and commercial minds” and his “intellect, commercial and legal sense and problem solving skills are second to none” (Chambers USA). Clients also say he is “a top-notch New York real estate lawyer that connects with and cares about his clients” (Best Lawyers) and “is particularly attuned to current legal issues in the industry and provides excellent service and counsel” (Chambers USA).Mark practices in the areas of real estate, REIT, and fund finance; private equity; workouts; restructurings; and bankruptcies. He regularly represents lenders and others in a wide variety of mortgage and construction loan transactions, and unsecured and borrowing base financings, involving—among other asset types—office, commercial, retail, industrial, multi-family, hospitality, healthcare, homebuilding, and condominium and cooperatives. He also represents lenders and others in complex real estate workouts, restructurings, and chapter 11 proceedings. Few lawyers have Mark’s experience with and understanding of syndicated, securitized, and participated loan arrangements, subscription lines, A/B note transactions, mezzanine financing, EB-5 transactions, bond financing, and complex intercreditor and co-lender agreements.Mark has been routinely involved in numerous projects that have reshaped and are reshaping the New York City skyline. Sample projects include 50 Hudson Yards, One Vanderbilt, the new Time Warner Building (30 Hudson Yards), St. John’s Terminal, the Spiral, Deutsche Bank Center (One Columbus Circle), One57, VIA 57 West (the Durst Organization pyramid building located at 625 West 57th Street), the Museum of Modern Art Tower, the Baccarat Hotel, Greenwich Lane, 15 Central Park West, 56 Leonard Street, One Five One (formerly known as the Condé Nast Building/4 Times Square), One Manhattan Square, 111 Murray Street, Pacific Park (formerly known as the Atlantic Yards), 125 Greenwich Street, The Eleventh (76 Eleventh Avenue), 555 Tenth Avenue, One Bryant Park, Gotham West, 5 Times Square, Times Square Tower, and many others.During the 1990s, Mark established his prior firm’s Real Estate Workout and Bankruptcy Group. He was heavily involved in the numerous debt restructurings and bankruptcies of high-profile real estate companies and developers of that decade, including Olympia & York, Donald Trump, Leona and Harry Helmsley, Harry Macklowe, William Zeckendorf, Harold Brown, Trammell Crow, Peter Kalikow, and George Klein.During the Great Recession, Mark was, again, in the middle of the highest-profile real estate workouts and bankruptcies, representing, among others, the largest creditor group in the General Growth Properties bankruptcy case and the largest creditor in the Extended Stay Hotels bankruptcy case. He spent years restructuring the debt of, and enforcing litigation and bankruptcy claims against, some of the largest public and private homebuilders in the United States.Mark has taken cases up to the highest courts in the United States, including the U.S. Supreme Court (RadLAX Gateway Hotel, LLC v. Amalgamated Bank), where the client won a unanimous verdict. He also filed the first involuntary bankruptcy case in the history of two of the largest money center banks in the country to achieve a 100% recovery on a large homebuilder land loan in Nevada at the bottom of the market during the Great Recession.Mark has received recognition for excellence by Chambers USA, Legal 500, Euromoney’s Real Estate Expert Guide, Best Lawyers in America, Super Lawyers, and Who’s Who Legal (U.S. and International). In 2022, he was named a Real Estate “<a href="https://images.law.com/media/nationallawjournal/supplements/NLJTB_Real_Estate_2022/index.html#p=10" target="_self">Trailblazer</a>” by the National Law Journal. In 2017 and 2016, he was one of seven real estate attorneys named “Power Lawyer” by the Commercial Observer. In <a href="https://media2.mofo.com/v3/assets/blt5775cc69c999c255/blt6096901783a926fc/632e3e067feae2235fc35e3b/MVP_Morrison_Foerster_s_Mark_S._Edelstein.pdf" target="_blank">2022</a>, <a href="https://media2.mofo.com/v3/assets/blt5775cc69c999c255/blt4129629371b11434/62732685220ab5285f51959b/191211-mvp-mark-edelstein.pdf" target="_blank">2019</a>, <a href="https://media2.mofo.com/v3/assets/blt5775cc69c999c255/blt82c8d3e05b4c14b3/62731f7a4886af2aa2be1378/141205law360edelsteinrealestatemvp.pdf" target="_blank">2014</a>, and <a href="https://media2.mofo.com/v3/assets/blt5775cc69c999c255/blt088cb5cf5a87b97f/131212law360edelsteinrealestatemvp.pdf" target="_blank">2013</a> he was named a “Real Estate MVP” by Law360 (globally, only seven attorneys in 2022, five in 2019, seven in 2014, and six in 2013 received this honor). In 2023, 2022 and 2020, Connect Media selected Mark as one of the top attorneys from across the United States, and across the NY and tristate areas, to be featured as a winner in its annual “Lawyers in Real Estate” Awards. In 2019, he was named one of the top 30 real estate lawyers in the world in Euromoney’s Best of the Best Global Expert Guide. He was also named one of the top 30 real estate lawyers in the United States in the Best of the Best U.S. Expert Guide.Mark is the author of numerous articles and a frequent lecturer on topics involving real estate finance, equity, and workout matters. His articles have appeared in American Banker, Commercial Lending Review, New York Law Journal, National Law Journal, The Practical Lawyer, Real Estate Finance Journal, Corporate Finance, and Real Estate Weekly. In 2021 and 2022, Mark was named a “Top Author” in the JD Supra Readers’ Choice Awards, recognizing top authors for thought leadership.He has been a multi-year member of the Law360 Real Estate Editorial Advisory Board, had a regular Q&A column in, and was on the advisory board of, Warren Gorham Lamont’s Creditors Workout Strategies, and was on the editorial board of GlobeStreet’s Distressed Assets Investor Newsletter.Mark is a member of a number of national and local real estate trade groups, including the Urban Land Institute, the Association of Foreign Investors in Real Estate, the Mortgage Bankers Association, the Real Estate Lenders Association, the International Council of Shopping Centers, and the Real Estate Board of New York. He is also a member of the Real Estate and Construction Council of Lincoln Center and a board member of the Real Estate Networking Trust.Mark received his B.A. summa cum laude from City College of New York and his J.D. magna cum laude from Benjamin N. Cardozo School of Law, where he was first in his class.

Mark Edelstein

Partner

Jeff Temple is the co-chair of the firm’s U.S. Real Estate Group and has over 35 years of experience representing a broad spectrum of clients making investments in, acquiring, financing, developing, operating, and selling large commercial real estate assets. He regularly advises institutional lenders, private equity investors, investment fund sponsors, REITs, foreign investors, and family offices.Leading lenders and borrowers call on Jeff for representation in complex, multi-tiered finance transactions and credit facilities of all types, including transactions involving the acquisition and disposition of real estate assets, as well as the acquisition and sale of loans and loan portfolios. Jeff regularly represents financial institutions, REITs, and private equity funds in connection with syndicated credit facilities (secured and unsecured), construction loans, preferred equity investments, A/B notes and participation arrangements, mezzanine financings, note purchase transactions, note financings, and intercreditor and co-lending arrangements involving major office, residential, industrial, retail, hospitality, and mixed-use projects.Jeff also regularly represents institutional domestic and foreign investors in large-scale acquisitions and dispositions of a wide variety of U.S. commercial assets, and the structuring and documentation of strategic and programmatic joint ventures, sale/leaseback transactions, and direct investments in U.S. real estate assets. He has also guided a variety of sponsors and family offices in the establishment of real estate funds and various private placements and other alternative capital raising structures. Jeff also actively represents U.S. opportunity fund investors making strategic acquisitions and forming joint ventures with local partners in Europe and Asia. His practice frequently involves the representation of foreign institutions making in-bound investments in U.S. commercial real estate, and provides guidance on the proper cross-border structuring of these investments. Following the formation of joint ventures for his clients, Jeff has continued to represent these ventures in numerous complex acquisitions, financings, and subsequent dispositions.Jeff is a member of the firm’s Distressed Real Estate Group and represents clients in a broad variety of loan restructurings and workouts, utilizing decades of experience through multiple “down cycles” to achieve creative and meaningful solutions to highly complex matters often involving adversarial situations. He has successfully completed restructurings involving billions of dollars of investments for both lenders and borrowers. He advises clients on the exercise of both UCC and mortgage remedies regarding problem loans and the restructuring of troubled joint ventures and other distressed real estate investments.He has developed a leading practice in the area of EB-5 investments and financings, having worked on transactions that have included over $2 billion of EB-5 investments. He represents both developers seeking EB-5 investments and senior lenders making secured loans with EB-5 in the capital stack.He also actively represents owners, developers, and investors in hotels, office buildings, and other commercial properties in the development, management, and leasing of such commercial properties.Jeff is the author of numerous articles and publications on fast-developing issues and trends in the real estate space, and is an active speaker in the New York real estate community and frequently moderates and participates on panels covering a broad variety of commercial real estate topics. In 2021 and 2022, Jeff was named a “Top Author” in the JD Supra Readers’ Choice Awards, recognizing top authors for thought leadership. Jeff was also selected as a nationally recognized lawyer as part of Connect CRE’s 2024 Real Estate Awards and received the “recommended” distinction for Real Estate and Real Estate Finance by Legal 500.

Jeffrey Temple

Real Estate