Paul G. Mackey represents banks and other financial institutions in a broad range of commercial real estate transactions. He has experience handling debt and equity financings of office buildings, shopping centers, residential apartment buildings, hotels and industrial properties throughout the United States. He also represents clients in buying, selling and leasing substantial commercial properties.

Paul offers his clients cost-effective counsel with leanly staffed teams and efficient legal workmanship. He negotiates and drafts documents in connection with permanent and construction loans, credit-enhanced bond financings and mezzanine loans with straightforward proficiency. Paul has extensive experience in workouts and loan restructuring, having negotiated numerous such transactions through three recessions.

When projects run into issues large or small, Paul is able to step in with the knowledge and experience necessary to mitigate the damage. He strives to develop mutual resolutions where possible with minimal impact on the progress of a project, but he is also well-versed in foreclosure and other enforcement proceedings when necessary.

  • Experience

    • A $50 million construction loan for a 50-unit luxury condominium building in the Chelsea neighborhood of Manhattan.
    • A $116 million credit enhancement for a construction loan financed with tax-exempt bonds under an 80/20 program for a 201-unit luxury residential building in the Chelsea neighborhood of Manhattan.
    • A construction mortgage loan of $330 million and mezzanine loan of $30 million provided by a syndicate of 14 banks for the construction of a 58-story condominium project in San Francisco.
    • Origination of a $230 million construction mortgage loan with an A/B note structure provided by five banks and a large life insurer for a 507-unit luxury rental building in the Wall Street area of Manhattan. This transaction also included a mezzanine loan. The facility suffered in the recent market downturn and was the subject of several contentious workouts that ultimately led to full recovery for the first mortgage lenders.
    • A $35 million construction loan for a new hotel in Midtown Manhattan.
    • Workout, foreclosure, bankruptcy and ultimate bankruptcy conveyance to the secured creditor of a 43-story 122-unit luxury condominium in Midtown Manhattan.
    • The sale of a 29-story 522,000 square-foot Class A office building in Oregon.
    • The lease of approximately 150,000 square feet of space in an office/research park in Westchester County, N.Y.
  • Credentials


    • St. John's University School of Law, J.D., 1988, magna cum laude
      St. John's Law Review, Articles Editor
    • Manhattan College, B.S., 1985, summa cum laude

    Bar Admissions

    • New York
    • Connecticut
    • U.S. Supreme Court

          Professional Memberships

          • New York State Bar Association
        • Insights

          News Release

          Schiff Attorneys Recognized in The Best Lawyers in America 2022

          Schiff Hardin LLP is pleased to announce that 51 attorneys have been listed in The Best Lawyers in America 2022.


          2021 Title Insurance Financial Survey/Overview

          For reference, herewith is an updated schedule of "Suggested Maximum Risk" amounts for a cross section of U.S. title insurance companies.

          News Release

          Best Lawyers Recognizes 59 Schiff Attorneys, Six “Lawyers of the Year,” and 21 Ones to Watch

          Schiff Hardin LLP is pleased to announce that 59 attorneys have been listed in the 2021 edition of The Best Lawyers in America, with six attorneys also being named a “Lawyer of the Year” in their respective areas of practice and location.

          News Release

          2020 Best Lawyers in America Lists Recognizes 63 Attorneys, Three “Lawyers of the Year”

          Schiff Hardin LLP is pleased to announce that 63 attorneys have been included in the 2020 edition of The Best Lawyers in America, with three attorneys also being named a “Lawyer of the Year” in their respective areas of practice.


          Protecting a Ground Leasehold Mortgagee’s Interests — Refining the Requirements for Financeability

          In order to be financeable, a ground lease must expressly allow the tenant to secure financing with the ground lease as collateral. If the tenant’s lender forecloses because of the tenant’s default under the ground lease financing, the lender succeeds to the tenant’s rights under the lease. This arrangement raises a number of critical questions about the relationship between the tenant, the landlord as the owner of the fee interest, the leasehold lender and the fee lender.


          Real Estate Lenders Exercise of Loan Balancing Rights May be Deemed to Have Created Mechanics Liens

          In this article, the author uses the BB Syndication Services v. First American Title Insurance Company case to address issues of loan balancing and mechanics' liens led by borrower's unpaid contractors.

          Other Publications

          • "What You Don't Know Can't Hurt You' Not Necessarily Applicable to Mortgage Lenders," 34 NY Real Property Law Journal 21 (Spring 2006)
        • Awards & Honors

          • The Best Lawyers in America, Best Lawyers (2020-2021)