If you are a nonbank finance company that makes commercial loans of $2.5 million or less in New York or represent such a company, this Holland & Knight alert is for you.
If you are a nonbank finance company that makes commercial loans of $2.5 million or less in New York or represent such a company, this Holland & Knight alert is for you. There has been.
Earlier this month, the New York State Senate (S318) and Assembly (A407) reintroduced proposed legislation seeking to extend the New York State mortgage recording tax to mezzanine debt.
Lawmakers introduced legislation in New York State Senate that would require mortgage recording tax to be paid on mezzanine and preferred equity financing in cases where such financing is subordinate to primary mortgage debt, a Mezzanine Tax.
Key Points - - New York lawmakers have reintroduced legislation that, if adopted into law, would make mezzanine and preferred equity financing subject to the mortgage rec.