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MAVA LAW CLOSES $17.2 MILLION CONSTRUCTION LOAN FOR OWNER-DEVELOPER

In April 2018, MAVA LAW closed on a refinance consisting of three separate loans, including an acquisition loan, building loan and project loan which enabled its client to pay off an existing acquisition loan and to complete the full gut renovation and façade replacement of a 45,000 square foot mixed use building in the Hub […]

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MAVA LAW CLOSES $15 MILLION LOAN ON LUXURY BUILDING IN THE BRONX

In November 2017, MAVA LAW closed on a $15 Million refinance of a newly constructed luxury mixed-use building on Arthur Avenue, three blocks from Fordham University in the Bronx.  By facilitating the transaction, the firm maximized Borrower’s mortgage recording tax savings.  The firm worked with Cullen & Dykman, who represented the Lender, Ridgewood Savings Bank.

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MAVA LAW FACILITATES $15.7 MILLION REFINANCE ON A NEW DEVELOPMENT

In May 2016, MAVA LAW facilitated a $15.7 Million refinance of a newly constructed 45,000 mixed-use commercial building in prime Jackson Heights located on Northern Boulevard. The transaction enabled our client to capitalize on its investment and refinance an existing construction loan. The firm worked with LeClair Ryan, who represented the Lender, Bank Leumi. MAVA […]

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MAVA LAW FACILITATES ACQUISITION OF $17.5 MILLION BUILDING

In May 2017, MAVA LAW represented a group of investors in the acquisition and financing of a 45,000 square-foot mixed-use building in the Hub  portion of the Bronx.  In addition, the firm facilitated a Purchase CEMA (Consolidation Extension Modification Agreement) and saved the investors in excess of $200,000. The Seller was represented by Duane Morris.

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MAVA LAW REPRESENTS PURCHASER IN 1031 EXCHANGE

In September 2015, MAVA LAW represented a seasoned investor to complete a 1031 exchange with the purchase of a $4.1 Million retail building in Bayside, Queens. The representation followed the sale of two mixed-use buildings in Flushing, Queens.

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MAVA LAW COMPLETES LEASE DEAL WITH CITYMD

In June 2016, MAVA LAW facilitated a lease agreement with CityMD on behalf of its landlord-client. CityMD is slated to take 3,000 square feet of retail space on Queens Boulevard in a newly constructed building.

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MAVA LAW CLOSES LEASE DEAL WITH BLINK FITNESS

In January 2017, MAVA LAW completed a lease deal with Blink Fitness. After thorough negotiations, Blink agreed to terms and now occupies 16,000 square feet of space in a newly constructed building on Southern Boulevard in the Bronx.

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MAVA LAW INKS LEASE WITH CHIPOTLE

In April 2016, MAVA LAW facilitated a complex negotiation resulting in commercial lease with Chipotle, an American chain fast casual restaurant, located in a newly developed commercial building in Northern Boulevard in Jackson Heights, Queens. Chipotle leased 2,500 square feet of retail space situated on the corner of Northern Boulevard.

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MAVA LAW PROCURES LEASE DEAL WITH NORTH SHORE-LIJ

in July 2016, MAVA LAW completed a lease agreement with GoHEALTH Urgent Care, a wholly owned subsidiary of North Shore-LIJ. The tenant leased 2,400 square feet of retail space on a prime block of Bell Boulevard in Bayside in a recently gut renovated building.

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MAVA LAW COMPLETES LEASE DEAL WITH PUBLICLY TRADED COMPANY

In February 2018, MAVA LAW drafted, structured and negotiated a commercial lease on behalf of its Landlord-Client, with Maximus, Inc., a publicly traded company that provides business process services, to government health and human services agencies across the United States. The deal involved 15,000 square feet of rentable space in a high end mixed-use commercial […]

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MAVA LAW CLOSES $18 MILLION LOAN SECURED BY MULTIPLE PROPERTY PORTFOLIO

In December 2017, MAVA LAW closed on the refinance of a portfolio of shopping centers consisting of 4 retail lots located in Queens & Staten Island, New York.  By facilitating financing in the aggregate of $18 Million, MAVA LAW maximized Borrower’s mortgage recording tax savings.   Donovan LLP represented the Lender, Signature Bank.

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MAVA LAW REPRESENTS JOINT VENTURE ACQUIRE DEVELOPMENT SITE ON QUEENS BOULEVARD

In November 2014, MAVA LAW represented a group of investors in the acquisition of a development site on Queens Blvd in Sunnyside. The anticipated development contemplates the construction of a mixed-use building featuring high-end retail on the ground level with offices and luxury apartments above. The firm also negotiated the JV agreement by and among […]

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What is a Letter of Intent (LOI) and is it enforceable?

In general, an LOI is a document commonly used when negotiating a commercial lease.  LOI’s break down the material terms and conditions of a proposed deal. An LOI provides a starting point for lease negotiations and serves as a guide for the landlord’s attorney, who typically drafts a commercial lease. That said, an LOI is […]

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What is a Good Guy Guarantee and Why Is It Important?

A Good Guy Guarantee is a personal guaranty frequently used in New York commercial leases. The guarantee either appears as a clause in the lease or as a separate document by way of an exhibit to the lease a Good Guy clause is typically signed by the tenant’s principal, who personally promises to fulfill all the […]

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Holdover Clauses in a Lease From the Landlord’s and Tenant’s Perspectives

Concerning holdover rental provisions, from a landlord’s perspective, the language should provide that if the tenant holds over its possession after the expiration or earlier termination of the original term, or any extended term, such holding over shall not be deemed to extend the term or renew the lease. However, any such hold over thereafter […]

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Importance of Assignment & Subletting provision in a Lease

In most commercial leases, there is a standard prohibition on assignments, subleases and transfers of stock or other ownership interest in the tenant. Without any modifications to this provision, a tenant would be constrained in its ability to find other space (whether to downsize or grow its business), to sell or transfer control of its […]

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Should I Sign a Personal Guarantee for My Business’s Commercial Lease?

Commercial landlords have an inherent fear that tenants will fail to pay their rent. If a tenant does not pay, the landlord knows that the only path to financial recovery or eviction is usually a lengthy court proceeding. That means hiring lawyers and paying legal bills, all while losing potential rental income.  To avoid this […]

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What is a Tenant Estoppel and How Does It Work?

By definition, an estoppel certificate is a “signed statement by a party certifying for another’s benefit that certain facts are correct, as that a lease exists, that there are no defaults, and that rent is paid to a certain date. A party’s delivery of this statement estops that party from later claiming a different state […]

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