Pryor Cashman Partners Wayne Heicklen and Ron Kremnitzer, Co-Chairs of the firm’s Real Estate Group, were profiled by Legal BisNow in its June 23, 2011 edition.
The article, entitled “What’s Cookin’,” reports that Kremnitzer, experienced in commercial leasing matters, in the last dozen years has represented Pinnacle Realty and The Praedium Group in the acquisition of over 800 properties, including 100 in a single day in 2005. He tells Legal BisNow that despite property-value appreciation, tightening lending has forced some owners to add additional equity to refinance in the last two years. Multifamily has slowed down, but retail leasing has stabilized and is starting to increase, driven by increasing confidence in NYC, he says.
Heicklen, who has spent over 20 years advising renowned owners and developers in NYC, says over the last three years he’s focused a large part of his practice in the restructuring and workout of commercial mortgage and mezzanine loans affecting distressed properties. Additionally, within his eclectic practice, he is also corporate and business counsel to Briad Group, the largest Friday's franchisor in the US.
To read the article from Legal BisNow, please click here.