Real Estate & Property Law
For business owners, real estate is often both the largest asset and the largest liability on the balance sheet. We handle real estate matters with the same rigor we bring to commercial litigation because the stakes demand it.
What We Handle
Commercial Real Estate Transactions
We represent buyers, sellers, and investors in commercial real estate transactions including acquisitions, dispositions, and financing. We handle due diligence, contract negotiation, title review, and closing. Every transaction is reviewed with an eye toward the risks that do not show up until after closing.
Mortgage Financing
We advise borrowers and lenders on mortgage financing for commercial properties, including loan structuring, documentation review, subordination agreements, and workout negotiations when loans go into default. Our litigation background means we understand what happens when mortgage obligations are not met and how to protect our clients on either side.
Commercial Leasing
Whether you are a landlord or tenant, the commercial lease defines the economic relationship for years. We negotiate and draft lease agreements addressing rent structures, build-out responsibilities, renewal and expansion options, co-tenancy provisions, and default remedies. We also handle lease disputes when the relationship breaks down.
Property Disputes
When real estate disputes cannot be resolved through negotiation, we litigate. This includes boundary disputes, easement conflicts, title issues, breach of purchase agreements, landlord-tenant disputes beyond housing court, and challenges to restrictive covenants. Our litigation practice gives us the tools to pursue or defend these claims effectively.
Asset Protection and Real Estate
Real property is often the first target in collection actions. We advise business owners on structuring real estate ownership to provide appropriate protection from business liabilities while maintaining practical control and favorable tax treatment. This planning works best when done before a crisis, not after.
Common Questions
Do I need a lawyer to buy a house in New York?
New York is one of the few states where attorney representation is customary and strongly recommended for both buyers and sellers. The attorney reviews the contract, negotiates terms, conducts due diligence, resolves title issues, and manages the closing. Fees typically range from $2,000 to $4,000 for residential transactions.
What are closing costs in New York?
Buyers typically pay 2-5% of the purchase price. Major costs include: mortgage recording tax (1.8% for loans under $500,000, 1.925% for loans $500,000+), title insurance (0.4-0.6%), attorney fees, bank fees, and lender charges. Sellers pay the real estate broker commission (typically 5-6%) and NYC/NYS transfer taxes.
Source: N.Y. Tax Law § 253 (mortgage recording tax); N.Y. Tax Law § 1402 (transfer tax)
What is a title search and why is it important?
A title search examines public records to verify the seller's ownership, uncover liens, mortgages, easements, judgments, or other encumbrances. Title defects can delay or kill a transaction. Title insurance protects you against undiscovered defects. Never skip the title search, even in a private sale between people you trust.
What is the New York mansion tax?
1% of the total purchase price for residential properties selling for $1,000,000 or more. An additional progressive surcharge applies to properties in NYC selling for $2,000,000+ (ranging from 0.25% to 2.9% depending on price). The mansion tax is paid by the buyer at closing.
Source: N.Y. Tax Law § 1402-a
What is the co-op vs. condo difference?
In a condo, you own your unit outright and receive a deed. In a co-op, you own shares in a corporation that owns the building, plus a proprietary lease for your unit. Co-ops have stricter approval processes, financial requirements, and restrictions on subletting. Financing a co-op can be more difficult.