Matthew LoBello, 29
Associate attorney at Rosenberg & Estis
Though the son of a Long Island bankruptcy attorney, Matthew LoBello says his path to the law was not straightforward — nor influenced by his father.
Still, after studying political science and journalism at Lehigh University, he felt the gravitational pull of the family trade and attended Cardozo School of Law, graduating in 2018 and landing a role at Philadelphia-based Duane Morris.
“I generally liked the transactional side of legal work better as opposed to litigation — going to court, writing court briefs,” LoBello said. “I liked the idea of everyone working together toward one common goal of closing. I just sort of jumped in with two feet. … I think one thing that sticks out to me is how real estate is so broad it impacts people at individual levels.”
After more than two years at Duane Morris, where he dipped his toes in the waters of leasing, purchases, sales and financing, LoBello made his way to Rosenberg & Estis in February 2021. There he specializes in traditional construction and mezzanine loans for both borrowers and lenders.
In the last few months, LoBello has worked with InterVest Capital Partners — formerly known as Wafra Capital Partners — to acquire a former 352-unit, Salvation Army-run senior housing center at 720 West End Avenue for $165 million, which the owner plans to turn into condominiums. LoBello says he also helped InterVest and Nightingale Properties secure the land under 111 Wall Street for $220 million in June 2021.
While this summer was a slow one for deals, according to LoBello, developers seem to have been pushing for completion of financing transactions despite rising interest rates and inflation. But that doesn’t mean trouble is not on the horizon.
“I think there probably is a little more due diligence going on to make sure any loans that are administered at this time are solvent loans with strong equity,” LoBello said. “I think come January, February of next year it will be interesting to see what things start to look like. People a lot smarter than me are predicting a recession at some point next year. I’m not quite sure how that’s going to affect financing, but things have definitely picked up from the summer.” —M.H.
