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Email Assembly Bill A3139 was introduced by Assembly Member Harvey Epstein on January 22, 2021. The bill is currently in committee but, if enacted, it will amend New York’s Real Property Law and Tax Law to require the recording of mezzanine debt and preferred equity investments and subject it to the mortgage recording tax. These amendments will force borrowers and lenders to reconsider the economic costs of mezzanine financing. https://www.cadwalader.com/resources/clients-friends-memos/new-york-assembly-sponsored-legislation-proposes-new-tax-on-mezzanine-debt-and-preferred-equity