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Thomas M. Scuderi

Chair, Banking and Commercial Lending

Overview

Thomas Scuderi provides highly effective counsel on a wide array of sophisticated transactions, including business, corporate, banking and commercial real estate matters. As Chair of Connell Foley’s Banking and Commercial Lending Practice Group, he represents commercial lending institutions in a variety of transactions, including permanent loans, construction and development loans, asset-based loan facilities, loan restructurings and workouts. Tom has a substantial background in debtor-in-possession financing and securitized loans.

With a broad-based transactional practice, Tom also regularly advises business entities, commercial lending institutions, medical practices and individuals on commercial real estate acquisitions and sales, commercial leasing, asset purchases, stock purchases, mergers, shareholder agreements, partnership agreements, contract drafting and corporate transactions.

Tom is well-versed in advising debtors, creditors and trustees on diverse bankruptcy-related matters. In addition, as part of his real estate services, he represents clients before municipal planning, zoning and architectural review boards.

Experience

Representative Experience

  • Represented numerous commercial lending institutions in the States of New York and New Jersey. Type of loans included permanent loans, land acquisition loans, refinance loans, site development loans, construction loans, participation loans, and asset based loans ranging from $50,000 to $21,000,000
  • Represented real estate investment partnership in the acquisition and refinance of numerous commercial properties in the New York Counties of Orange, Ulster, Rockland, and Westchester aggregating in excess of $6,000,000. Representation included lease preparation, lease negotiations, and tenant defaults
  • Represented family in the acquisition of two adjoining mixed use commercial properties in Rockland County, New York aggregating $5,000,000. Representation included lease preparation, lease negotiation and preparation/negotiation of right of way agreements
  • Prepared and negotiated commercial leases for landlord of a four story commercial office building located in New York
  • Advised family in connection with succession planning of a nationwide commercial contracting company. Representation included the creation of a new entity, preparation of sale agreements, and acquisition/buy-out financing of commercial property by children of founders in the sum of $3,000,000
  • Represented family in the sale of mixed use building containing commercial and residential tenants in Manhattan for the sum of $8,000,000
  • Advised and represented real estate investor in the acquisition of vacant commercial property from national tire manufacturer for the sum of $1,500,000, which included the negotiation of a restrictive covenant restricting the sale of tires. Subsequently represented same investor in the sale of the property to a Japanese car dealership for the sum of $2,000,000, which included the re-negotiation of the restrictive covenant to allow use as a car dealership
  • Represented a private lender/investment group in connection with refinance of two marinas in St. Maarten in the aggregate loan amount of $19,000,000.00
  • Negotiated a long term ground lease for property in Bergen County, New Jersey with a large nationwide pharmacy chain
  • Represented Chapter 7 bankruptcy trustee with the sale of assets of numerous bankruptcy estates, including commercial real estate sales, residential real estate sales, and business asset sales
  • Represented a Chapter 11 Debtor-in-possession in the sale of commercial building located in Bergen County, New Jersey for the sum of $2,500,000. Representation included the negotiation of a commercial lease for the debtor to remain as tenant and resolution of an environmental issue requiring an NFA letter from the New Jersey Department of Environmental Protection
  • Represented investor in the acquisition of the assets and real estate associated with Bergen County, New Jersey restaurant and bar. Representation included the negotiation of an asset purchase agreement, real estate contract and obtaining municipal approval to transfer the liquor license
  • Represented public utility in the acquisition of two commercial properties located in Elizabeth, new Jersey and Trenton, New Jersey
  • Handled sale of a bar/restaurant and the underlying real estate by a Chapter 11 Debtor-in-possession in the Southern District of New York for the sum of $1,500,000. Representation included the negotiation of an asset purchase agreement, real estate contract, and the obtaining of bankruptcy court approval thereof
  • Sale of a 45-acre parcel in Orange County, New York for the sum of $1,500,000 by a family real estate investment company. Representation included the negotiation of a contract of sale containing a subdivision contingency and price contingency based upon the number of approved lots
  • Represented numerous builders in the obtaining of construction loans and the subsequent sale of subdivided and improved lots
  • Represented food manufacturer in the sale of a commercial building in downtown Manhattan for $2,000,000 and a subsequent 1031 exchange acquisition and financing of commercial property located in New York City for the sum of $3,000,000
  • Represented partners in the sale of a commercial office building in Rockland County, New York for the sum of $2,000,000 which involved eight tenancies
  • Handled an $11,000,000 refinance of a New York Metropolitan area Country Club
  • Represented a family investment trust in the sale of a residential apartment building located in Brooklyn, New York for the sum of $3,700,000
  • Represented a New York City contractor in the acquisition and financing of a commercial building in Westchester County, New York for the sum of $2,000,000
  • Represented a real estate investment company in connection with a refinance of two commercial buildings in Essex County, New Jersey utilizing securitized loans aggregating the sum of $5,000,000
  • Represented a real estate investment company in connection with the refinance of a commercial retail building located on Route 17 in Paramus, New Jersey totaling the sum of $14,000,000. Transaction included the defeasance of an existing $10,000,000 loan backed by securities and a simultaneous new securitized loan closing
  • Purchase of a restaurant and catering facility in Rockland County, New York for the sum of $800,000 for a real estate investment company. Representation included the negotiation of an asset purchase agreement, commercial lease, and promissory note. Advised investors with the formation of a new limited liability company and the preparation/negotiation of an Operating Agreement between the investors
  • Represented owner/franchisor in the sale of two nationwide yogurt chain franchises
  • Represented two partners in the sale of a museum model construction company and all assets for the sum of $650,000, including the negotiation of an asset purchase agreement, employment agreements, note, security agreement, and a lease assignment
  • Represented partners in the sale of a computer hardware, software, and support company
  • Represented family in the sale of two (2) Burger King Franchises
  • Represented and closed numerous partnership buyouts including medical partnerships
  • Counsel for numerous medical practices. Representation has included formation of entity, preparation of partnership agreements, buy/sell agreements, employment agreements, restrictive covenants, and lease agreements
  • Represented numerous individuals and developers in the acquisition and disposition of residential real estate in New York and New Jersey ranging from $100,000 to $5,000,000, including condominiums and cooperatives
  • Negotiated numerous property line disputes, easement agreements, and road maintenance agreements
  • Represented major electric utility company in obtaining municipal approvals to construct two electrical substations in the New York metropolitan area including the obtaining of requisite use and bulk variances
  • Corporate counsel for chemical supply company including asset purchase agreements, succession planning, employment agreements, parking agreements, and environmental agreements
  • Local counsel for cellular phone provider for employment litigation matters in New Jersey
  • Represented a Roseland, New Jersey lumber yard in connection with the sale of its assets to a regional lumber and building supply company
  • Represented Bronx, New York commercial property owner in connection with a commercial refinance closing and lease negotiation, including the negotiation of Subway and Dunkin' Donuts franchise leases
  • Represented publicly traded publishing company in connection with subdivision and sale of commercial property in Middlesex County, New Jersey
  • Representation of numerous closely held companies in connection with their formation, including choice of business entity, preparation of organizational documents, partnership agreements, buy-sell agreements, employment agreements, and succession planning

Activities

Professional and Community Affiliations

  • New Jersey State Bar Association
  • New York State Bar Association
  • American Bar Association
  • Bergen County, New Jersey Bar Association
  • Rockland County, New York Bar Association
  • Member, Zoning Board of Adjustment for the Borough of Ramsey, New Jersey
  • Student Graduate and Barrister, Bankruptcy Inn of Court
  • Transactional Counsel, Hudson-Bergen Inn

News & Insights

Honors

New Jersey Super Lawyers (2011-2017)

Education

Widener University School of Law (J.D., 1993)

Syracuse University (B.S., Finance, 1989)

Admissions

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