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Real Estate and Construction Lending Practices, Arbitrator of Real Estate Disputes - Expert Witness

Gerald M. Levy & Co. LLC

Gerald M. Levy & Co. LLC

315 Madison Avenue, Third Floor
New York, New York 10017

Phone(646) 979-3745

Website www.gmlevy.com

► Contact Gerald M. Levy & Co. LLC

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Gerald M. Levy & Co. LLC, real estate and banking consultants, was founded by Mr. Levy after a career in valuation and consulting, banking and real estate finance, construction lending, commercial banking, restructurings and workouts, real estate transactions, corporate real estate, arbitration and mediation, urban redevelopment and, now, concurrent with his university teaching in real estate finance, real estate credit and risk management and negotiation and dispute resolution.

Services

Gerald M. Levy & Co. LLC, real estate and banking consultants, offers professional services in the following areas:

* Arbitration & Mediation
* Expert Testimony
* Dispute Analysis & Litigation Support
* Dispute Resolution Planning for Leases
* Ground & Space Lease Problems
* Landlord/Tenant Disputes
* Office & Retail Leases
* Construction Lending Practices
* Real Estate Lending Practices
* Real Estate & Mortgage Fraud Analysis
* Commercial Loan Performance/Risk Analysis
* Market and Feasibility Studies
* Secured and Unsecured Lending
* Lender/Borrower Standards
* Real Estate Standard of Care
* Restructurings & Workouts
* Representation in Transactions
* Strategic Analysis & Implementation
* Corporate Real Estate
* Complex Valuation
* Partial & Fractional Interests
* Real Estate Underwriting Risk Review
* Executive Education Programs


Scope of Arbitration and Mediation Activities

Real Estate Industry

Disputes involving property types such as land, office buildings, shopping centers and free standing retail stores, multi-family, hotel, multi-use, industrial, distribution and special purpose properties. Such cases variously involved real estate assets held in fee simple estates, leased fees, leasehold estates, “sandwich” positions. Sub-lease positions, fractional and partial interests and renewal and purchase options. Disputes included such issues as appraisal/valuation, highest and best use, re-setting of market rents for ground and space leases for renewal terms, property management contracts, landlord-tenant disputes involving use clauses, operating expenses and their apportionment between landlord and tenant, real estate and construction loan disputes, measurement of damages, partnership disputes, real estate brokerage commissions, standards of due diligence for the purchase and sale of real estate investment property; standards of practice for real estate and construction lenders and borrowers and for real estate brokers and clients.

Construction Industry

Disputes involving business issues such as timely completion in accordance with plans and specifications and agreed upon construction costs, appropriateness of change orders, business interruption, measurement of damages and lost profits; standards of practice for construction loan funders and borrowers.

Banking, Finance and Securities Industries

Conflicts have included standards of practice for lenders, brokerage firms and clients; general and limited partners, investment account management, appropriate investments, syndications and tax shelters and issues of compensation and appropriate or inappropriate termination of investment professionals, loan defaults and repayment issues.

Other Industries

Contract disputes involving goods and services, compensation issues, appropriate or inappropriate termination of employees and contract vendors in the information technology, manufacturing, and soft goods sectors.


Litigation Support Services

In appropriate cases, Mr. Levy has served as an expert in standards of practice in the real estate and construction industries, effective loan underwriting and administration, highest and best use analysis, valuation, restructurings and workouts and other real estate and banking issues.

A range of services including but not limited to: review and critique of core documents, literature search, research issues and core concepts, identification and explanation of substantive issues, advice on methodological issues, advice on alternative courses of action, review of expert reports and testimony. Development of case themes and strategies, preparation of key questions, assist in the preparation of pre-trial and post-trial briefs, assist in other appropriate case management activities.

Areas of Expertise

Additional Expertise:

Market & Feasibility Analysis; Real Estate Underwriting; Real Estate Leases. Ground Leases, Construction Lending.

Profile

Mr. Levy is President of Gerald M. Levy & Co. LLC, real estate and banking consultants, offering professional services in real estate transactions, arbitration and mediation*, expert testimony*, case analysis and litigation support*, ground and space lease disputes, construction lending practices, real estate lending practices, commercial lending practices, real estate loan underwriting, risk review, restructurings and workouts, real estate and mortgage fraud analysis, standard of care, real estate negotiations, market and feasibility analysis, complex real estate valuation, appraisal reviews, partial and fractional interests, corporate real estate, and executive education programs.

He was Managing Director, Real Estate Finance Group of Chase Manhattan Bank (now J.P. Morgan Chase). He has had transactional and managerial responsibility for real estate, construction, and commercial finance in every region of the United States; commercial banking; underwriting, valuation and consulting; urban development; leasing; property acquisition and disposition; construction and environmental services; loan restructurings and workouts; and asset management, leasing, and sale of foreclosed real estate assets. He served as a Senior Member of the Credit Committee. At one time Mr. Levy was Chief Appraiser at Chase Manhattan Bank.

Mr. Levy was Senior Vice President and General Manager of the Real Estate and Corporate Services Division of Chemical Bank with worldwide responsibility for these functions. Mr. Levy has supervised real estate and construction activities in forty countries in Europe, the Middle East, Africa, Asia and North and South America and in thirty five American states. He formerly served as Senior Vice President of Merritt and Harris, a national construction and real estate consulting firm; and Director of Valuation and Consulting for the Alexander Summer Company. He started in urban redevelopment.

He served, variously, as Adjunct Professor and Clinical Associate Professor at New York University where he taught real estate finance, real estate credit and risk management, and negotiation and dispute resolution. For many years he headed the Strategic Real Estate Management Group and was responsible for supervision and course development for valuation and feasibility analysis, commercial lease analysis, asset management, acquisition and disposition, restructurings and workouts, negotiation, dispute resolution and enterprise management.

Consulting Practice

Accepts assignments in all American States and Countries around the World.

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Professional Experience

Real estate experience in 35 states; supervision of real estate and construction activities in Europe, Middle East, Africa, Asia and North and South America.

Experience includes real estate finance, construction lending, loan workouts, origination and marketing, national underwriting, unsecured lending, term loans, commercial banking, corporate real estate, leasing, purchase and sale, joint venturing, valuation, counseling and urban redevelopment.

While in charge of corporate real estate, responsible for real estate planning, property acquisition and disposition, leasing, tenant representation, construction management. Space programming, relocation, property management, asset management and general service activities. Managed 800 employees. Co-authored internationally recognized publication on choosing and implementing strategic objectives in corporate real estate.

While in charge of real estate lending had responsibility for the screening, underwriting, pricing, negotiating, closing and administration of construction, interim and permanent mortgage loans including participating and convertible loans; major policy responsibilities for capital markets applications and loan sales, managed $5 billion portfolio of loans; responsible for more than $12 billion in transactions. Oversaw origination, underwriting, documentation and closing activities in every region of the United States. Managed 125 employees in real estate line and support activities. Wrote standard construction lending manual.

While in charge of problem loan and real estate owned (REO) assets performed field investigations, formulated revitalization programs, negotiated and completed project and corporate loan restructurings, syndicated and unsecured credit workouts, negotiation and litigation management, foreclosures, asset management and reconfigured debt and equity placements. Lectured extensively on “The Loan Workout Process.”

Real estate syndication financing activity through credit facilities secured by limited partnership notes receivable.

Real estate investment trust (REIT) activities including negotiation of credit agreements, formulation of asset swap agreements and execution of individual property transactions.

Real estate acquisition and disposition including asset reviews, pricing decisions, negotiations, contract executions and property closings.

Urban redevelopment experience including land planning, condemnation, relocation, land clearance, and RFP (request for proposal) developer selection process. Acted as troubleshooter and advisor for financing land assemblage operations for the Times Square Redevelopment.

Long experience in conflict management and resolution functions using a wide variety of methods such as negotiation, mediation, arbitration, litigation and other techniques such as fact finding, case evaluation, conciliation, partnering and dispute prevention programs.

Created and drafted the Real Estate Industry Arbitration Rules (Including a Mediation Alternative) sponsored by the American Arbitration Association (AAA) and widely utilized in the United States.

When exclusively involved in real estate valuation and consulting activities appraised all major income property types and special purpose properties in both fee simple and partial and fractional interests and performed market, marketability, and feasibility studies.

Banking responsibilities included credit administration, unsecured loans, lines of credit, term loans and revolving credit agreements, agencies for multi-bank credits, letters of credit and loan portfolio management. Senior member of the Credit Committee with broad decision-making powers for a wide range of real estate and corporate credits.

Created or restructured units such as origination and marketing, national underwriting, corporate real estate. Advisory, restructuring, market analysis, valuation and loan accounting and administration.

Leadership, management and training of hundreds of real estate and banking officers in a broad variety of line and staff functions.

Leader of task force that designed and implemented real estate finance and corporate real estate training programs for Chemical Bank.

Financial management included the composition of annual revenue, operating expense and human resource budgets; capital budgeting; profit plans, bottom line profit responsibilities.

Effective new business development activities, marketing strategies, advertising and public relations, customer presentations and follow-up work.


Licenses

MAI, Appraisal Institute, CRE, Counselors of Real Estate, FRICS (Fellow) of the Royal Institution of Chartered Surveyors (London), New York State Licensed Real Estate Broker, Certified New York State General Real Estate Appraiser.


Affiliations

Mr. Levy is a member of the Appraisal Institute (MAI), the Counselors of Real Estate (CRE) and a Fellow of the Royal Institution of Chartered Surveyors (FRICS), London and a member of the Risk Management Association (RMA, New York Chapter).

He is a member of the National Roster of Arbitrators of the American Arbitration Association (AAA) and has been an arbitrator for the Financial Industry Regulatory Authority (FINRA).


Qualifications

Mr. Levy is a New York State licensed real estate broker, a New York State certified real estate general appraiser and is eligible for reciprocal licensing for both functions in most states. He is certified as mediator, arbitrator and “chair qualified” by the Counselors of Real Estate. He was trained in arbitration by the American Arbitration Association and the Financial Industry Regulatory Authority and in mediation and negotiation by the Cornell School of Industrial and Labor Relations and Harvard Law School’s Program on Negotiation. Mr. Levy has served as a neutral in real estate, construction, banking, finance, securities, apparel, maritime, and other commercial disputes.


Awards & Honors

New York University awarded Mr. Levy its Teaching Excellence Award for creating an exceptional learning environment and its Distinguished Service Award for major contributions to new course development and restructuring of the curriculum; NACORE (now CoreNet Global) honored him for his corporate real estate writings.

The Appraisal Institute’s Metropolitan New York Chapter presented him with the Alexander G. Hesterberg Lifetime Achievement Award for outstanding service.


Seminars & Training

Mr. Levy has been a speaker at conferences sponsored by U.S. Department of Housing and Urban Development, U.S. Agency for International Development, Urban Land Institute, Mortgage Bankers Association of America, Counselors of Real Estate, Appraisal Institute, American Society of Appraisers, American Institute of Certified Public Accountants, International Association of Corporate Real Estate Executives, National Realty Club, Society of Industrial and Office Realtors, Real Estate Board of New York, Asset Management Round Table, Association of the Bar of the City of New York, New York State Bar Association, American Bar Association, Young Presidents' Organization, American Arbitration Association, Chartered Institute of Arbitrators (England), Arbitrator’s Institute of Canada, Royal Institution of Chartered (England), Anglo-American Real Property Institute, and many other groups.

Mr. Levy has also lectured at Harvard, Yale, Stanford, and Columbia Business Schools; Massachusetts Institute of Technology; Wharton School of the University of Pennsylvania; Tuck Business School at Dartmouth College; Darden Business School at the University of Virginia; Cornell and Fordham Law Schools; Columbia University School of Architecture, Planning, and Preservation; and for the University of Amsterdam. Under the sponsorship of the U.S. Agency for International Development (USAID) and similar organizations, he has conducted lecture and seminar sessions on American real estate markets and methods of real estate analysis for delegations of public officials and practitioners from China, Japan, Russia, and the Ukraine.


Publications

Mr. Levy served as Editor-in-Chief and co-author of "Arbitration of Real Estate Valuation Disputes" (American Arbitration Association). His recent monograph "Structuring Real Estate Arbitration Clauses: A Neutral's Perspective" has been adopted for publication in the Practicing Law Institute's Handbook for use by students in the seminar entitles "Negotiating Commercial Leases." The same monograph has been utilized by the University of California/State Bar of California's Continuing Legal Education Program. He was the primary drafter of the "Real Estate Industry Arbitration Rules (Including a Mediation Alternative)" and the predecessor "Real Estate Valuation Arbitration Rules." Mr. Levy has also been a contributing author of the "Corporate Real Estate Handbook" (McGraw Hill), "Institutional Real Estate Strategies" (Urban Land Institute), "Modern Real Estate Financing" (Little, Brown), "Real Estate Development and Construction Financing" (Practicing Law Institute),"Critical Issues in Arbitration" (American Bar Association) and many other publications. He is also the author of "Construction Lending: Issues and Documents, Risks and Benefits."


Professional References

Professional References will be furnished on request.


Education

Mr. Levy holds a BA from Columbia University and an MA from Harvard University and is a graduate of the Chemical Bank Executive Management Program taught by the Faculty of the Harvard Business School and the Yale School of Management. He has had additional training in arbitration by the American Arbitration Association (AAA) and the Financial Institutions Regulatory Authority (FINRA); in mediation and negotiation at the Cornell University School of Industrial and Labor Relations and at the Harvard Law School's Program on Negotiation.




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