Stephen Brodie has more than 35 years of experience as both a corporate and a real estate lawyer. For most of that time, Steve has represented financial institutions in commercial and private bank lending transactions, and in workout and restructuring matters. His fine sense of leverage in business situations helps him anticipate the twists and turns of a wide variety of both corporate and real estate matters and his strong negotiating skills enable him to efficiently bring those matters to successful fruition for his clients. In addition to his integral role as partner in the firm's Real Estate Department, Steve is co-chair of the firm's Corporate Department, chair of the Financial Institutions Practice Group and a member of the firm's Executive Committee.
Steve has represented commercial banks in secured and unsecured financings, including syndicated and single bank high-end middle market transactions; construction lending; IDA financings; mezzanine real estate financings; leasehold mortgage lending; asset-based lending; and in workouts and restructuring arising from such corporate and commercial loans, often involving complex intercreditor relationships. His practice is bolstered by his knowledge of New York's Lien Law and Real Property Law, and Article 9 of the Uniform Commercial Code, as well as his experience helping bank clients navigate through the intricate business and documentation structures involved in New Markets Tax Credits transactions.
In recent years, Steve's practice has expanded to include banks and niche lenders in lending against different kinds of collateral, such as fine art owned by both collectors and dealers, and equity interests in closely held companies, and interests in professional sports teams. He also advises art title insurers, as well as banks that are creating and revising written credit policies for both art and real estate lending. He also represents borrowers on some large art loans and works closely with Herrick's Art Law Group in consignment and buy/sell transactions unrelated to bank financings.
Additionally, Steve has represented owners, developers, and co-op and condominium sponsors in construction, building conversions, commercial leasing and buy/sell transactions, as well as foreign lenders in financings for U.S. borrowers secured by real estate, oil tankers, oil refineries, ski resorts and other collateral.
Steve is an active member of the professional community and frequently speaks at industry conferences on such topics as problem real estate and commercial loans, lending against art collateral title transactions and risk in art investment funds. A prolific writer, Steve regularly contributes to Herrick's Art & Advocacy newsletter. Beyond his client work and professional community undertakings, Steve is a mentor to the firm's associates, teaching drafting and negotiating skills.
Memberships & Associations
- Mortgage Bankers Association