Jay Steinman, P.A.

Jay Steinman, P.A.: Attorney with Duane Morris LLP AV stamp icon
  • Partner at Duane Morris LLP
  • 201 South Biscayne Boulevard, Suite 3400, Miami, FL 33131
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Attorney Awards

Biography

Jay Steinman, P.A. has nearly 35 years of experience in complex commercial real estate and finance transactions. Mr. Steinman represents domestic and international real estate development and investment companies as well as financial institutions, family offices and real estate dedicated funds and owners and operators of all real estate asset classes, including vacant land, office, retail, hospitality, healthcare, mixed-use, industrial, multifamily and for-sale residential projects. He also represents numerous local, regional and international financial institutions and private lenders in complex loan transactions involving real estate and non-real estate collateral, including senior and mezzanine debt, construction loans and syndicated loan facilities. Mr. Steinman handled a multitude of transactions in the last two economic down cycles and has developed a focus representing businesses involving special assets and distressed loans, including loan documentation and collateral analysis, loan modifications and forbearances, deed in lieu and other settlements, and loan and REO sales and purchases.

Mr. Steinman is a 1983 cum laude graduate of the University of Miami School of Law and a magna cum laude graduate of Dickinson College, where he was elected to Phi Beta Kappa.

Experience

•Duane Morris LLP
- Partner, 2017-present
•Carlton Fields Jorden Burt P.A.
- Partner, 1999-2017

Honors and Awards

•Listed in U.S. News/Best Lawyers The Best Lawyers in America, 2013-2019

•Listed in Florida Super Lawyers, 2007-2018

•Selected for inclusion in South Florida Business Journal's Heavy Hitters Real Estate Movers & Shakers
Daily Business Review Top Dealmaker Award Finalist, Real Estate Finance Category
Daily Business Review Top Dealmaker Award Finalist, Office Category
•Recipient, Recognition of Outstanding Service Award, YMCA of Greater Miami
•Recipient, 2014 Twelve Good Men of South Florida Award, Ronald McDonald House Charities
•AV Preeminent Peer Review Rated by Martindale-Hubbell

Civic and Charitable Activities

•United Way of Miami-Dade, Board of Trustees

•University of Miami Citizens Board
•Chapman Partnership, Board of Trustees
•Baptist Hospital Founders Society

Publications and Speaking Engagements

Selected Publications

•Co-author, Opportunity Zones Heat Up in South Florida, Commercial Property Executive, April 3, 2019

•Co-Author, Seeking to Capitalize on the Opportunity Zone Program? Move Quickly to Take Full Advantage, Miami Herald, January 18, 2019

•Quoted, Miami wealth manager's real estate forecast: Prices go down as sea-rise risks go up, Miami Herald, October 8, 2018

•Quoted, Homestead Entertainment Complex Gets $13.6M Financing With Duane Morris Team, Daily Business Review, June 5, 2018

•Quoted, Duane Morris Closes $42 Million Buy of West Miami-Dade Land, Daily Business Review, February 6, 2018

•Author, Puerto Rico Offers Investment Opportunities for the Prepared and Selective, Daily Business Review, December 13, 2017

•Quoted, New Residential Developments Meet Demands in Midtown Miami, Miami Today, October 31, 2017
•Quoted, Miami Attorneys Negotiate Loan in Slower Construction Lending Climate, Daily Business Review, October 10, 2017
•Quoted in, Why Shopping Centers Are Facing Disturbing Financial Challenges, Globest.com, December 12, 2016
•Quoted in, Attorney Says More Florida Shopping Centers are Facing Financial Issues, Florida Record, October 26, 2016

•Co-author, Resolving Shopping Center Foreclosures in Florida - Considerations for Lenders, Carlton Fields Web Article, October 12, 2016

•Co-author, Key Employment and Immigration Issues Facing Banks Today, Law360, February 27, 2015

•Co-author, Employment and Immigration Issues Facing Banks, Carlton Fields Resource, December 17, 2014

• Real Estate Asset Valuation: Acquiring a Fractured Condominium Project, Counsel to Counsel, March 2009

Selected Speaking Engagements

•Speaker, The Federal Opportunity Zone Program in Real Time: Leveraging This Tax Incentive Now, Duane Morris Miami Roundtable Luncheon, Miami, October 10, 2018

•Panelist, The 2018 Outlook for Real Estate in South Florida, WLRN, Miami, April 4, 2018

•Panelist, The 2018 Outlook for Real Estate in South Florida, The Miami Real Estate Forum, Miami, March 6, 2018

•Panelist, The State of Real Estate, The South Florida Association for Financial Professionals, Coral Gables Florida, March 28, 2017
•Panelist and Transactional Law Authority, REO Palooza! a conference providing the latest developments about REO (Real Estate Owned) properties, Fort Lauderdale Chapter of the CCIM (Certified Commercial Investment Member) Institute
•Moderator, The Good, the Bad, and the 'Ugly': New Debt and the Uncertain Future, Colliers International Real Estate Summit, 2014

Areas of Practice (2)

  • Commercial Real Estate
  • Finance

Education & Credentials

Contact Information:
305 960 2251  Phone
305 675 8560  Fax
www.duanemorris.com/attorneys/jaysteinman.html
University Attended:
Dickinson College, B.A., magna cum laude, Phi Beta Kappa, 1980
Law School Attended:
University of Miami School of Law, J.D., cum laude, 1983
Year of First Admission:
1983
Admission:
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

Birth Information:
Abington, Pennsylvania, 1958
Reported Cases:
Representative Matters: Commercial Real Estate Acquisition, Development and Finance: Represented developer/investor in a joint venture for the acquisition, financing, development, management and leasing of a residential project located in Sarasota County, Florida, including review of due diligence, acquisition, title and survey, and project documentation, and documentation of joint venture terms.; Represented owner-developer in negotiation and 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 and technology park in Jupiter, Florida and the negotiation of related CMBS and mezzanine financing.; Represented developer in negotiation of documents relating to development and construction of Hampton Inn and related amenities in Coconut Creek, Florida, including organizational, franchise, management and construction contracts and documentation for construction loan.; Represented developer in negotiation of documents relating to development and construction of Holiday Inn Express Hotel and Suites and related amenities in the Kendall, Florida including organizational, franchise, management and construction contracts and documentation for construction loan.; Represented seller in $100 million sale of adjacent 7-acre parcel of vacant land on which purchaser intended to construct luxury condominium units including negotiation of Cross Access and Reciprocal Easement Agreements governing continued use, operation and 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 and 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 and purchase improvements, lease-back, and reciprocal easement and operating agreement relating to two medical professional builds and 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 and financing of a 175 room hotel in Surfside Florida, including coordination of a joint venture, negotiation of the general contractor's agreement, and negotiation of documents for a $35 million construction loan.; Commercial Real Estate Finance: Represented participant lender in $345 million loan to finance the construction of luxury condominium buildings consisting of residential units, commercial space and space parking garage and related improvements, located in the City of Sunny Isles Beach, State of Florida.; Represented lender in $64 million loan to finance the acquisition and to fund certain renovations thereto and other costs associated with the condominium conversion of rental apartment project and 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, and related improvements in Fort Lauderdale, Florida, involving a submerged land lease and the negotiation and of intercreditor and other loan documents with mezzanine lender.; Acted as local counsel for lender in $50 million acquisition and construction loan involving rehabilitation, and conversion and construction of new condominium project on waterfront property in the City of Miami, Miami-Dade County, Florida.; Represented lender in $30 million acquisition and 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 and 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 and retail condominium project and associated parking garage located in Delray Beach, Florida.; Represented lender in $37 million acquisition/renovation loan to finance the acquisition and to fund certain renovations thereto and other costs associated with the condominium conversion of unit rental apartment project and related improvements located in the City of North Miami, Florida.; Represented lender in $130 million financing of the acquisition, development and 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 and to fund renovations and other costs associated with the condominium conversion of office building together with attached, multi-level parking garage and 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 and 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 and 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 landlord lien waivers and addressing issues with distribution and similar agreements.; Represented lender in modification and analysis of $144 million loan facility collateralized by marketable securities, aircraft and aircraft engines involving complicated trust, estate and 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 and a court approved purchase and sale of lender's secured claim.; Represented lender in a loan workout with a warehouse lender involving multiple deeds-in-lieu and loan assignments involving commercial and residential properties throughout the state of Florida.; Represented lender in connection with a contested loan workout and settlement, and 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 and storage spaces appurtenant thereto, and 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 and 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 and documented the purchase money financing thereof.; Represented real estate investment and asset management company in the negotiation, forbearance and cross-collateralization of $40 million judgment liens secured by real property in Mississippi, Texas, Florida, New York, Iowa, and South Carolina.; Represented lender in the negotiation of a forbearance and 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 and covenants, title issues, hotel management issues, and ongoing disputes between the borrower/developer and the association.; Represented lender in connection with the negotiation and preparation of a settlement agreement and stipulation for entry of judgment with borrower and guarantors in connection with a defaulted $20 million loan and the subsequent purchase and 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 and coordination with unit owners and mortgagees, the title company, the Miami-Dade property appraiser's office, and the Miami-Dade tax collector's office.
ISLN:
903440118
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.

Peer Reviews

5.0/5.0
A Martindale-Hubbell Peer Rating reflects a combination of achieving a Very High General Ethical Standards rating and a Legal Ability numerical rating.

*Peer Reviews provided before April 15, 2008 are not displayed.

Documents (1)

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Miami, Florida

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