Our representation of clients in complex real estate transactions includes acquisitions, dispositions, financing and leasing. We have considerable experience in commercial real estate including retail establishments, office buildings, hotels, apartment projects, mixed-use developments, warehouses, unimproved acreage, industrial and other commercial properties. Commercial real estate transactions require customized documentation, zoning and land use contingencies, and creative financing techniques, all of which our attorneys use on a regular basis.
We advise developers of residential and commercial property on all the financial and transactional aspects of project development. We negotiate and prepare agreements for land or site acquisition, letters of intent and construction and permanent financing. Our attorneys also handle contractor, subcontractor and investor documentation, and work closely with a client’s land use and zoning counsel.
In recent years, our real estate group has gained considerable experience in the “like kind exchange” transaction, under which parties avail themselves of the benefits of the tax-free exchange under the Internal Revenue Code. This specialized form of real estate transaction requires a high level of sophistication and experience and is often overlooked by many individuals and businesses who could use it to significantly decrease their tax liability.
Selection of Ownership Entity
Commercial real estate is often held by a limited liability company, partnership, S-corporation or other type of entity. Our real estate attorneys work with the firm’s business and tax attorneys and with the client’s accountant to determine what form of entity is best suited for any particular real estate project.
Coordination with Other Practice Groups
In conjunction with other practice groups, the Real Estate practice group assists clients with transfers for tax-deferred exchanges, transfers for estate planning purposes, transfers incident to a divorce, loan workouts and restructurings, foreclosures, receivership and bankruptcy matters. We work closely with the Litigation practice group in all aspects of real estate and construction litigation, and with our Bankruptcy/Creditors’ Rights lawyers in litigation involving distressed real estate, including fraudulent transfers, preferential transfers and reorganizations.
Purchase and Sale of Residential Property
We help clients buy and sell residential property, stressing the importance of customizing the “standard contract” to protect and fit the particular needs of each client. In some instances, the structure of a transaction may require co-ownership and equity sharing agreements.
Since commercial real estate property is frequently held in the name of a partnership or a joint venture, we work closely with our tax and corporate and business practice groups to facilitate the transfer of real property among partners or partnerships.
The commercial lease is vital to many of our clients, regardless of their size. We have designed and negotiated an extensive variety of leasing provisions and techniques and have prepared a host of specialized provisions designed to fit the unique leasing needs of each client.
Family Real Estate
In coordination with our estate planning counterparts, the real estate group facilitates transfers of family-owned real estate to enable our clients to take advantage of tax-saving estate planning techniques. We also assist in transfers of property between spouses or former spouses.
Our real estate attorneys have instituted numerous foreclosure proceedings on behalf of institutional and private lenders. We have also defended commercial and individual borrowers, and work with our Bankruptcy/Creditors’ Rights practice group to delay or defeat foreclosure actions.
We provide efficient and professional service in the settlement of both commercial and residential real estate transactions. Our services include examining the real estate title, preparing or reviewing the various documents, obtaining title insurance, recording the closing documents and disbursing funds. This work is often conducted through our wholly-owned subsidiary, Presidential Title.
Arthur H. Blitz
Alan S. Mark
Daniel P. Hodin
Diane A. Fox
Arnold B. Sherman
Arthur G. House
Kevin K. D’Anna