Eric Goldberg Quoted in GlobeSt.com on the State of Refinancing Commercial Real Estate Properties in 2024

Co-Chair of Olshan’s Real Estate Law Practice Eric Goldberg was quoted in a GlobeSt.com article (subscription required) on the state of refinancing commercial real estate properties in 2024. Commercial real estate debt maturing in 2024 increased from $659 billion to $929 billion due to extensions granted by lenders and modifications to loans in recent years. Meanwhile, the Federal Reserve has indicated that interest rates will not be lowered at least until March. “If I knew where interest rates were going,” Eric commented, “I’d be a bond trader and not a working lawyer.” He continued, “The market does think rates are coming down. Somehow the perception becomes reality. It’s what I’m also seeing in terms of mortgage financing in New York and around the country. I see it coming back for office buildings. That one I can’t say I’m basing it on actual metrics I’ve seen, but lenders are loath to take over office space. I’m expecting a strong first quarter and others are as well.”