COMMERCIAL REAL ESTATE PRACTICE
Experienced and effective legal counsel is crucial to the successful acquisition, operation or disposition of commercial real estate, whether a single asset or a portfolio of trophy properties, and the Firm's members excel in all aspects for the investors and developers of every level of sophistication it represents, in some cases for many decades.
Acquisition and Sale of Commercial Real Estate
From inception to closing, the Firm's members work diligently in close collaboration with its clients in the evaluation, negotiation and consummation of transactions involving the purchase and sale of all varieties of commercial real property, including office, mixed use, and multi-family properties, retail and office condominiums, and vacant land, at all times focusing on achieving the client's objectives. The Firm's members, in close collaboration with the client's accounting professionals, advise clients with respect to structuring organizations which invest in or finance the acquisition or operation of real property. Clients have come to rely upon our skill and knowledge to design and implement strategies to maximize profits and reduce or defer the income tax consequences of real estate transactions, including decades of experience in successfully consummating tax-deferred exchanges qualifying for treatment under Section 1031 of the Internal Revenue Code.
Commercial Real Estate Financing
The Firm represents both borrowers and lenders in commercial real estate lending transactions, including superior and subordinate mortgage loans and mezzanine financing, typically involving loans in the dollar range of several million to tens of millions. In representing borrowers, there is a focus on vigorously negotiating on the client's behalf to achieve the most favorable business terms possible while also best protecting the borrower and its principals from exposure for debt and other liability and ensuring its ability to operate its property without undue interference or restrictions by the lender.
Unconventional Commercial Real Estate Matters
The Firm also handles commercial transactions involving less traditional aspects of real estate. The Firm represents owners and developers in the negotiation and consummation of transactions involving the acquisition or disposition of transferable development rights (so-called "air rights"), easements, and construction access and license rights. The Firm also represents owners of real property in the negotiation of leases or licenses with nationwide telecommunications carriers for rooftop installations of cellular telecommunications facilities, and with national media conglomerates for the installation of digital or static outdoor advertising media, situated on rooftops and facades, especially in the Times Square area of Manhattan. Such transactions, while potentially lucrative and especially attractive to owners in that they typically make use of space which would not otherwise produce revenues, have many unique facets and require counsel experienced in such matters that can handle a negotiation with the kind of fixed-minded mentality typically encountered when dealing with these parties.