Real Estate

Our real estate practice includes the following:

Commercial Leasing

Our attorneys have extensive experience in commercial leasing and related real estate work, including office, loft, commercial, restaurant, retail, and ground leases; lease assignments; and subleases. Our clients range from Fortune 500 companies, to loft building owners, to individuals leasing small commercial spaces. Our representation of building owners includes development of form leases, preparation and negotiation of tenant leases, advice to owners concerning landlord-tenant matters and a variety of lease related issues (including escalations, constructive evictions, penalty clauses, and lease interpretation), telecommunications license agreements, easements, construction agreements, mortgage financing, and transfers of property to limited liability companies and other entities. We have represented tenants in a variety of transactions (including direct leases, assignments and subleases) ranging from 1,000 square feet to in excess of 100,000 square feet.

Purchase and Sale Transactions

Our firm has represented buyers and sellers of real estate in a variety of transactions, including the purchase and sale of commercial office buildings, loft buildings, apartment buildings, industrial property, and motels. In connection with such acquisitions, we have represented our clients with respect to IDA benefits, tenant buyouts, and other real estate related matters.

Financing Transactions

The firm’s attorneys have represented lenders and borrowers (institutional and non-institutional) in real estate financing transactions involving mortgages and other forms of security, including loans to businesses, loans to developers for acquisitions and cooperative conversions, and industrial revenue bond financing. We have also represented a number of clients with respect to debt and equity investments in real estate, including loan participations, syndications, joint ventures, construction financing, and secondary financing.

Not-for-Profit Organizations

The firm represents a number of not-for-profit entities, which we have represented in the leasing, purchase, and sale of real estate. In connection with such representations, we have applied for real estate tax exemptions, counseled our clients on compliance with various legal requirements specially affecting not-for-profit entities, and represented our clients in the leasing of commercial space. We also counsel not-for-profit clients on fiduciary issues and general legal matters.

Cooperatives and Condominiums

As general counsel to cooperative corporations and condominiums, we have assisted in the refinancing of existing mortgages; served as a consultant at board and annual shareholders' meetings; negotiated service contracts, construction contracts, and retail leases; represented apartment corporations at the closings of individual apartments; advised clients with respect to corporate matters, shareholder disputes, trust transfers, and compliance with waste disposal laws; drafted corporate documents, including bylaws, proprietary leases and house rules; and represented our clients in litigation.

We have also worked with developers in the cooperative conversion of rental apartment buildings, including the acquisition of property, financing, preparation of offering plans and amendments, negotiations with tenant groups, negotiations with the New York State Department of Law, the consummation of conversions, sponsor-financing, post-conversion offerings to tenants, and unsold shares financing. We have also represented developers in sales of "unsold shares" (cooperative units retained by the sponsor-developer at the conversion).

Workouts and Foreclosures

The firm has litigated mortgage foreclosures. Our attorneys also have represented clients in workouts and coop loan foreclosures. This aspect of our practice has involved us in negotiations with defaulting debtors, advice concerning requisite loan documentation and proper parties, acceleration and U.C.C. foreclosure, Lien Law foreclosure, negotiations with cooperative corporations concerning unsold share rights and transfer procedures, bankruptcy, landlord-tenant issues, and general advice concerning cooperatives.