Richard J. Krainin

Rick represents clients in the areas of finance and real estate with special emphasis on the representation of non-profit organizations, financial institutions, and emerging companies.
Richard Krainin, Partner, New York at Arent Fox

Client Work


Rick heads the firm’s Nonprofit Finance Group in the New York office. He represents financial institution lenders, bond credit enhancers, underwriters, for-profit and nonprofit clients in public finance, project finance, and corporate finance transactions nationally.

Rick represents for-profit companies in connection with their capital formation activities. He works closely with owners, developers, architects, engineers, financial and real estate advisors in the structuring, financing, and implementation of development projects. Rick co-led the launch of an interdisciplinary national project finance program for public and nonprofit institutions through the architectural/engineering/design community that was recognized by the Financial Times with a 2012 Innovative Law Firms award in the “Business of Law” category.

Real Estate

Rick represents clients in real estate acquisition, development, financing, disposition and leasing transactions including commercial office space leases, retail space leases, sale/lease-back, and equipment lease transactions. He is experienced in negotiating financing arrangements for owners and lenders, including construction loans, inter-creditor agreements, and take-out financing for complex real estate transactions.


Rick provides general corporate counsel and advice to for-profit and nonprofit clients. He counsels clients on business development, joint venture and commercial contractual activities, tax, corporate governance, and compliance issues, including matters relating to directors’ fiduciary responsibilities.


Rick was the principal draftsperson of legislation which created a mortgage insurance subsidiary of New York City Housing Development Corporation, terminated an existing mortgage insurer and transferred the assets of the existing insurer to New York City.

Previous Work

Rick practiced public finance law at a leading national bond counsel firm before serving in state government as counsel to the state deputy comptroller for New York City. Immediately before joining Arent Fox, Rick was a partner in the real estate finance department at another prominent firm.

Professional Activities

Rick is a member of the National Association of Bond Lawyers.

Publications, Presentations, & Recognitions

Rick has served as moderator, speaker and panelist at conferences, webinars and symposia on real estate finance, governance, and tax issues involving nonprofit, health care, independent school, and public/private sector participants. Rick has been selected for inclusion in the New York edition of Super Lawyers magazine — Metro Edition list since 2008. He has also been recommended in The Legal 500 US 2016-2019 for Not-for-Profit.

Life Beyond the Law

Rick currently serves as co-president of the board of directors of Residents for a More Beautiful Port Washington.