Crystal Kay


  • Overview


    Crystal Kay focuses her practice on real estate finance, with an emphasis on affordable housing finance. She is a member of the firm’s Real Estate + Development Group.

    Real Estate Finance

    Ms. Kay has extensive experience representing institutional lenders in commercial real estate transactions. She has acted as lender’s counsel in complex structured financings and has managed and overseen the closing of hundreds of loan transactions involving acquisitions and refinancing of multifamily properties and revolving credit facilities. She routinely negotiates key real estate related documents such as commitment letters, notes, security agreements, guaranties and opinion letters.

    Affordable Housing Finance

    Ms. Kay’s practice focuses on various affordable housing finance structures on a nationwide basis, including construction and permanent financing transactions, tax-exempt bond transactions, tax credit transactions, Fannie Mae and Freddie Mac loan and credit enhancement transactions, forward loan commitments, Affordable Housing Program (AHP) loan transactions, and other government-subsidized programs. Her transactions often involve Section 8 Housing Assistance Payments programs and feature commercial space and ground lease structures.

    Real Estate Leasing

    As part of her real estate finance practice, Ms. Kay advises clients in commercial leasing matters and negotiates tenant estoppels and subordination agreements.

    Prior to joining Robinson+Cole, Ms. Kay was associated with a New York based firm, where she represented regional and national lenders in commercial loan transactions, borrowers in residential real estate purchases, and lender’s counsel for loan servicing matters. She also has worked as a mediator in small claims court. Ms. Kay is a native New Yorker and is an active member of the Park Slope Food Coop, a food cooperative in Brooklyn which aims to make groceries more affordable.

  • Experience
    • Experience


      • Represented institutional lenders in complex construction financing transactions involving loans secured by new construction or rehabilitation of multi-family apartment complex developments and mixed use real estate.

      • Represented institutional lenders in the origination and negotiation of portfolio loans, including senior, supplemental, and leasehold financings, secured by multifamily, commercial and mixed-use real estate located primarily in New York City, as well as share pledge loans, loans for commercial cooperative and condominium units, cond-ops, and revolving credit lines.

      • Represented institutional lenders in the origination and negotiation of permanent financing transactions secured by collateral in states such as Minnesota, California, New York, Colorado, Florida and Texas, involving loans for sale in the secondary mortgage market to Fannie Mae and Freddie Mac, as well as supplemental loans and loan assumptions.

      • Represented a national bank in the purchase of a portfolio of 16 Community Reinvestment Act qualifying mortgage loans.

    • Professional Associations

      Professional Associations

      New York State Bar Association
      Young Lawyers Division

      New York City Bar Association
      Housing and Urban Development Committee

      New York State Association for Affordable Housing

      Forum on Affordable Housing and Community Development Law

      Women in Housing and Finance
    • News

      R+C News Releases

      • October 8, 2015

        Robinson+Cole Welcomes 10 New Lawyers

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