Kathleen M. Furey is an attorney in Holland & Knight's New York office, where she focuses on real estate finance and loan restructuring. She has more than 30 years' experience representing institutional lenders locally and nationally. She is well versed in closing construction loans in the New York City metropolitan area that require the coordination of multiple levels of financing combined with tax credit proceeds and subsidy funds from various city, state and federal agencies. In addition, Ms. Furey represents institutional lenders, including major national banks, in connection with problem loan portfolios such as loan workouts, restructurings, note sales and foreclosures.
With a concentration on affordable housing construction lending, Ms. Furey guides lenders and developers in transactions involving multifamily revenue bonds, Low-Income Housing Tax Credits, New Markets Tax Credits, Gulf Opportunity (GO) Zone tax credits, Historic Rehabilitation Tax Credits, Community Development Block Grants and New York State Energy Research and Development Authority (NYSERDA) funds. She also represents banks to issue letters of credit to enhance bond issuances involving Freddie Mac and Fannie Mae permanent credit enhancements. Ms. Furey works closely with the New York State Housing Finance Agency and other housing agencies in New York City and across the country.
The transactions Ms. Furey works on are frequently featured in The New York Times, Affordable Housing Finance magazine, The Wall Street Journal and the New York Post. A few of her most notable representations include closing three of the first transactions under Louisiana's Road Home program, which was created to promote the rebuilding of New Orleans after Hurricane Katrina. Ms. Furey has most recently closed multiple transactions involving the funds available from the New York State Governor's Office of Storm Recovery (GOSR) to build affordable housing in areas affected by Hurricane Sandy and other storms.
Ms. Furey has been instrumental in the development and organization of the New York Department of Housing Preservation and Development (HPD) Building Opportunities Workshops, working in conjunction with the Minority Business Development Institute (MBDI). The series of workshops began in October 2014 and was created as an educational platform for Minority and Women's Business Enterprises (MWBEs) selected by HPD and MBDI to participate in the workshop series.
- Representing the community development banking divisions of several major national lenders
- Representing major national banks in loan restructurings, foreclosures and bank real estate-owned sales
- Closing three of the first transactions under Louisiana's Road Home program, which was created to promote the rebuilding of New Orleans after Hurricane Katrina
- Negotiating multimillion-dollar construction loans with the developers of mixed-use condominium projects in the New York City metropolitan area on behalf of national lenders
- Advising Bank of America and creating form documents resulting from the U.S. Department of Justice settlement regarding residential mortgage-backed securities requiring subordinate funds to be advanced for affordable housing transactions nationwide
- Counseling the New York State Governor's Office of Storm Recovery advising on compliance with Housing and Urban Development (HUD) requirements
- Serving as pro bono counsel to the regional division of a national nonprofit builder and promoter of home ownership
- Hofstra University School of Law, J.D.
- Hofstra University, B.A.
- New York
- U.S. District Court for the Eastern District of New York
- U.S. District Court for the Southern District of New York
- New Destiny Housing Corporation, Former Board Member
- New York State Association of Affordable Housing (NYSAFAH), Former Board of Directors
- Habitat for Humanity of Coastal Fairfield County, Former Chair of Board of Directors
- American College of Mortgage Attorneys, Fellow
- Citizens Housing and Planning Council
- National Housing Conference, Program Funding Member
- Harlem's 28th Precinct Community Council
- Intrepid Sea, Air and Space Museum, Pro Bono Counsel