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919 Third Avenue
New York, New York 10022
United States of America
P: +1 212.756.2444
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Jeffrey A. Lenobel is a partner in the New York office, where he chairs the Real Estate Group and serves on the firm’s Executive Committee and Operating Committee. He practices primarily in the areas of real estate restructuring, development, finance, sales and acquisitions. His clients include real estate funds, developers, borrowers, lenders and other financial institutions in their real estate and capital markets activities, including workouts and restructurings, complex financing transactions, sales and acquisitions, developments, funds, joint venture arrangements and other related matters.
An elected member of the American College of Real Estate Lawyers and consistently listed in Chambers, Legal 500, Best Lawyers in America, IFLR Guide to the World's Leading Real Estate Lawyers, New York Super Lawyers, Who’s Who Legal and Who’s Who in America, Jeff has chaired the Committee on Securitized Mortgage Lending and the Committee on Pension Fund Investments, both committees of the American Bar Association’s Section of Real Property, Probate and Trust Law, and is a member of the New York State Bar Association’s Committee on Cooperatives and Condominiums and a former member of the New York City Bar Association’s Committee on Housing and Urban Development. Jeff leads the Schulte Real Estate Group which has developed a reputation for producing inventive solutions to the most difficult challenges in a timely and efficient manner. One factor that separates Jeff from others with a comparable reputation in the industry is his hands on approach to the matters he handles.
Selected Representations
Real estate owners, developers, funds and entrepreneurs in connection with workouts, restructurings and bankruptcy matters, and in the sale, purchase and financing of multifamily housing, hotels, office buildings and retail centers.
Major domestic and foreign commercial banks, pension funds, insurance companies and other institutional investors in lending and real estate finance matters including securitizations, conduit loans, complex construction loans, mezzanine financings, A/B structured financing, restructurings, loan syndications and participations, letter of credit enhancements and other creative financing techniques.
Borrowers, owners, developers and building contractors in the preparation and negotiation of joint venture agreements, partnership agreements, limited liability company operating agreements and shareholders' agreements, as well as in workouts and restructurings.
Institutional lenders in connection with complex, government-aided or -financed real estate transactions.
Selected Publications
“The Cherryland Decision — Full-Recourse Enforcement of Non-Recourse Loans,” Commercial Property Executive, April 4, 2012 (co-author)
“Extend and Pretend (and Pray?)” Globe Street, Jan. 13, 2012
“Commercial Real Estate,” Business and Commercial Litigation in Federal Courts (Thomson West) 2011-2013
“Acquisitions & Developments in Commercial Real Estate,” The Stoler Report, Aug. 16, 2011 (interview) “ Mortgage Debt Could Prompt Double Recession,” The Deal, Aug. 16, 2011 (interview) “ MoMA Buys American Folk Art Museum,” The Deal, July 25, 2011 (interview) “‘Best Efforts’ = Bad Drafting,” Distressed Assets Investor, March 2011 “Private Equity’s New Role,” Distressed Assets Investor, November 2010 “Counsel for the Recovery,” The Commercial Observer, Oct. 19, 2010 “Mezz Lenders and Intercreditor Agreements,” Distressed Assets Investor, July 2010 “Equity Participations in Property Loan Workouts,” Distressed Assets Investor, March 2010 “Dealmaking Among Co-Lenders: Is it Legal?” Real Estate New York, September/October 2009 “Tenancy in Common Poses Risks to Lenders,” New York Law Journal: Trends in Real Estate & Title Insurance, June 27, 2005(co-author) “Terrorism Insurance: Legal Issues Engendered by the 9/11 Terrorist Attacks,” SRZ Real Estate Developments, Spring 2002 (co-author) “The Impact of Subordinate Debt On Rating CMBS Transactions,” SRZ Real Estate Developments, Fall 2001 (co-author) “CMSA/MBA Promulgates ‘Best Practices’ Guidelines Seeking To Improve Loan Documentation Quality and Decrease Investor Risk,” SRZ Real Estate Developments, Fall 2001 (co-author) “Deeds in Lieu of Foreclosure: An Attractive but Risky Alternative to Foreclosure,” SRZ Real Estate Developments, Summer 1999 (co-author) “Deeds in Lieu of Foreclosure: Pros and Cons,” Commercial Lender, Fourth Quarter, 1999 “Mortgaged-Backed Security Process Undergoes Changes,” New York Law Journal, March 29, 1999 “Current Issues in Commercial Mortgage-Backed Securitizations,” International Legal Strategy, Vol. VII–X, 1998 “Financing Demystified: How Mortgage-Backed Securities Are Assembled and Sold,” New York Law Journal, Sept. 30, 1998 “Real Estate Construction and Finance, New York State Bar Association,” Real Property Law Section and Committee on Continuing Legal Education, 1997
More
Selected Speaking Engagements
“Power Panel: Office Junkies: Large CRE Deals,” GreenPearl Massey Knakal Commercial Real Estate Investment Summit, New York, April 2013
“Formulating a Restructuring Plan That Maximizes Recovery: Restructure/Dispose/Invest/Finance/Foreclose,” IMN 4th Annual Bank & Financial Institutions Special Asset Executive Conference on Real Estate Workouts, New York, March 2013
“State of Capital Markets Update,” GreenPearl Events Bridging the Gap — A Forum on Gap Financing, Replacement and Rescue Capital for Real Estate Deals, New York, October 2012
“Investment and Finance Forecast,” ALM's RealShare New York 2012, New York, October 2012
“Special Servicing Debrief: To What Extent Are Servicers Releasing the ‘Bottleneck’ of Troubled Assets in 2012?” CapRate Events Distressed Real Estate Debrief, New York, September 2012
“What is on Your Checklist? Property Acquisitions & Due Diligence,” IMN 2nd Annual Real Estate General Counsel Forum, New York, September 2012
“Has the U.S. Economy Finally Reached Bottom? How About the Rest of the World?” IMN 2012 U.S. Real Estate Opportunity & Private Fund Investing Forum, New York, May 2012
“CMBS 2.0 — State of the Market for 2012,” iGlobal Forum 3rd Real Estate Preferred Equity & Mezzanine Financing Summit, New York, May 2012
“Office Property All-Stars: Leasing, Acquisitions & New Developments,” GreenPearl Events Commercial Real Estate Summit, New York, April 2012
“Formulating a Restructuring Plan for 2013 Maturities: Extend & Pretend vs. Sale vs. Put More $$ In,” IMN 3rd Annual Bank & Financial Institutions Special Asset Executive Conference on Real Estate Workouts, New York, March 2012
“Fundraising Issues for 2012 — Who is Preparing for Continued Growth?” iGlobal Forum 6th Real Estate Private Equity Summit, New York, March 2012
“Real Estate Forecast for 2012,” GreenPearl Events CCIM Real Estate Forecast, New York, January 2012
“Real Estate Funds: Terms and Trends,” SRZ 21st Annual Private Investment Funds Seminar, New York, January 2012
“The View From 30,000 Feet: A Macroeconomic & Real Estate Debt Market Overview & Update and CMBS in a Different World: What to Expect in 2012 & the Impact on the Debt Market,” IMN Real Estate Subordinated Debt Origination & Investment Forum, New York, November 2011
“Deal Structuring, Loan Origination & Financing Regulatory & Business Developments,” IMN The Real Estate General Counsel's Forum, New York, October 2011
“Deal Estate: Analyzing the Pulse of a Changing Commercial Real Estate Market,” The Deal Webinar, September 2011
Moderator, “Battlefield New York: Overpriced, Picked Over, Over & Out,” GreenPearl Events New York 2011: Beyond Distress, New York, September 2011
“Multifamily Euphoria, the Continued Shift from Homeowner to Renter and Demographic Trends: Is Subprime Fallout the Ultimate Windfall for Commercial Multifamily Owners and Investors?” CapRate Events National Apartment Summit, Vienna, VA, September 2011
“What Bankruptcy Lawyers Need to Know About UCC Article 9 — Best Practices for Mezzanine Foreclosures in 2011,” ExecSense Webinar, May 2011
“I Object! The Legal View,” UBS 2011 Commercial Real Estate Conference, New York, May 2011
“Financing & Capital Sources,” Opal Financial Group Real Estate Investors Summit: Dealmakers Conference, Miami, April 2011
“National and Local Economic Overview,” IMN Bank & Special Asset Executive Forum on Distressed Real Estate, New York, March 2011
Strafford Representations and Warranties in Commercial Real Estate Sales Contracts Webinar, March 2011
“Navigating Acquisitions in Today's Muddy Waters,” NRC Luncheon, New York, November 2010
Moderator, “Capital Markets Update: The New Funding World,” Real Estate Forum 9th Annual RealShare New York, October 2010
“REOs & Regulations: Industry Leaders Discuss Where the Distressed Real Estate is Now and Where it is Headed,” Distressed Real Estate Summit: New York, October 2010
“Real Estate a Year Later,” U.S. and Israel FTA: 25th Silver Anniversary, New York, October 2010
“With Dislocation Comes Opportunity: Surviving Today's Capital Crisis,” 2nd RealShare Distressed Assets Conference, Dallas, September 2010
“Legal Issues in Purchase & Sale Agreements,” NYU Schack Institute of Real Estate, July 2010
“Commercial Real Estate in a Post-Recession Era,” Globe St.com and SRZ Webinar, May 2010
Want to be a Partner? How to Write an Effective Business Development Plan to Get on the Right Path, New York City Bar Panel, New York, March 2010
Moderator, “Seeking Distress: Who Will Deploy Capital in 2010?” GreenPearl Distressed Real Estate Summit: California, Los Angeles, February 2010
Real Estate Panel, US and Israel: Confronting Challenges, Israeli-American Chamber of Commerce Annual Conference, New York, December 2009
Co-chair, The Young Jewish Professional Real Estate Network Event, New York, November 2009
Moderator, “Real Estate in Recovery: What Can Be Done to Prepare for a Turnaround?” Globe St.com and SRZ Webinar, November 2009
“Experts View of the Real Estate Market,” The Michael Stoler Real Estate Report, New York, October 2009
“Refinancing When the Mortgage Comes Due or Welcome to the Days of Lend & Pretend,” 8th Annual RealShare New York Conference, New York, October 2009
“Lender/Deal Maker Perspective Panel: Navigating & Negotiating Loan Enforcement, Workouts & Foreclosure,” IMN Forum on Distressed Commercial Real Estate, New York, October 2009
“Navigating Workout Strategies and Pre-Negotiation Agreements,” Incisive Media RealShare’s Distressed Assets 2009 Conference, Dallas, September 2009
“Jumping In: ‘Funds Take Over Funds’– Exploring the Play of New & Emerging Opportunity Funds in Today's Climate,” GreenPearl.com’s Distressed Real Estate Summit: New York, September 2009
“The Longest Year...What Have We Learned?” NYU Schack Institute of Real Estate Alumni Association Panel Discussion, New York, September 2009
Conference Co-Chair, “Legal, Bankruptcy, Borrower Negotiations & Foreclosure Strategies,” Opal's Annual Real Estate Investors Summit, Orlando, FL, April 2009
“Dealing Debt in a Distressed Market,” SRZ and Savills Distressed Real Estate: Challenges and Opportunities seminar, New York, February 2009
“The Art of Selling and Buying Distressed Commercial Real Estate,” PLI Live Audio Webcast, January 2009
“Manhattan Real Estate vs. Nationwide,” Real Estate Private Equity Summit, October 2008
RealShare Investment and Finance Summit, New York, September 2007 and September 2008
RealShare New York Conferences, New York, October 2004, October 2005, October 2006, September 2007 and September 2008
RealShare Commercial Mortgage Securitization Conferences, New York, December 2004 and December 2005
Chairman, Symposium on The Real Estate Market: An Ever-Changing Landscape, New York, March 2005
Real Estate Opportunity and Private Fund Investing Forum, New York, May 2003
Chairman, Symposium on The Real Estate Market: An Ever Changing Landscape II–An Interactive Experience, New York, N.Y., December 2002
Originator’s Forum, Commercial Mortgage Securitization Association Annual Convention, June 2002
Chairman, Symposium on The Real Estate Market: An Ever Changing Landscape, New York, November 2001
“Anatomy of a Mortgage-Part II,” American Bar Association, August 2000
“Construction Loan Financing,” Chicago Title Insurance Company, October 2000
Chairman, Symposium on Current Issues in Real Estate–Betting Your Assets II, New York, December 1999
“Anatomy of a Mortgage–Part I,” American Bar Association, November 1999
Chairman, Symposium on Current Issues in Real Estate–Betting Your Assets, New York, December 1998
More
Memberships
Professional
American Bar Association–Section of Real Property, Probate and Trust Law
Chairman, Committee on Pension Fund Investments, 2002–05
Chairman, Committee on Securitized Mortgage Lending, 1998–2002
New York State Bar Association
Committee on Cooperatives and Condominiums,
1986–present
New York City Bar Association
Committee on Housing and Urban Development, 1986–89, 1991–94
Mortgage Bankers Association
Commercial Mortgage Securities Association
International Council of Shopping Centers
Chicago Title insurance Company Advisory Board
Stewart Title insurance Company Advisory Board
First American Title insurance Company Advisory Board
Philanthropic
Executive Committee, UJA-Federation, Real Estate Lawyers
Division
Executive Committee, Fund to Cure Asthma, National Jewish
Medical and Research Center
Commissioner, Village of Scarsdale Cable Television Commission (1994-
2001); Chairman (1998-2000)
Other Distinctions
Listed as a leading real estate lawyer in many publications, including:
The Best Lawyers in America
Chambers USA
IFLR Guide to the World's Leading Real Estate Lawyers
The International Who’s Who of Real Estate Lawyers
The Legal 500 - United States
New York Super Lawyers
Who’s Who in America
Who’s Who in American Law
Who’s Who Legal
American College of Real Estate Lawyers
The Burton Award for Legal Writing
Fellow, The New York Bar Foundation
Bar Admissions
Education
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Cumberland School of Law, J.D., cum laude, 1978
- Executive Editor, Cumberland Law Review
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Gettysburg College, B.A., 1973
Prior Experience
Orrick Herrington & Sutcliffe, LLP
Partner, 1994-97
Baker & McKenzie
Partner, 1990-94
Mudge Rose Guthrie Alexander & Ferdon
Partner, 1987-90
Demov & Morris
Partner, 1985-87; Associate, 1978-84
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