SEPTEMBER 2021 THE PRACTICAL REAL ESTATE LAWYER | 49 JOSHUA STEIN, one of the most prolific contributors to The Practical Real Estate Lawyer in its history, handles a wide range of commercial real estate transactions and regularly serves as an expert witness. He is a member of the American College of Real estate Lawyers and author of five books and over 300 articles on commercial real estate law and practice. Many appear on his website, www.joshuastein.com.

A real estate developer faced foreclosure and the loss of a large and very visible condominium project in Manhattan. A prominent New York City real estate investor, Philip Pilevsky, with help from his family members tried to rescue the developer by implementing a fairly obvious and perfectly legal technique to delay the foreclosure by almost a year.