Industrial Property Transactions and Redevelopment
Herrick lawyers have provided owners, developers, investors and lenders, particularly in New York City, the guidance needed to successfully purchase, sell, lease, finance and redevelop industrial properties. If you own or are considering acquiring an industrial property, you can rely on our significant experience in the full range of related real estate concerns, including finance, development, construction, land use and zoning, environmental law, government relations and tax.
We have extensive experience with the redevelopment of industrial properties for a variety of uses, including large mixed-use projects, logistics centers and urban storage facilities. Oftentimes a redevelopment is structured as long-term ground lease, or a joint venture between an owner and developer. In those transactions we bring to bear a deep understanding of the needs of both parties, and a strong track record of successfully closing the deal. We also have advised clients on rezoning and variance applications that give new life to industrial sites, and can assist with accessing government incentives and tax abatements that may exist.
Areas of Focus:
Herrick was founded as a real estate law boutique in 1928, and we remain an ingrained part of the commercial real estate industry. We feature one of the largest commercial real estate law practices based in New York City, and have the depth, experience and institutional relationships necessary to help you through a diverse range of concerns. We also deliver exceptional market intelligence and up-to-the-minute best practices to our clients, which can provide an edge in the highly competitive real estate market.
Land Use and Zoning
Our Land Use and Zoning Group’s capabilities span the entire development process —including zoning changes and special permits and variances. Members of our group have previously served in the New York City Department of City Planning, the Board of Standards and Appeals, the New York City Council and the Landmarks Preservation Commission. This significant public-sector experience helps us aid clients in their government interactions, provide political advocacy, assist with obtaining government approvals and represent clients in projects that fall under the New York City Uniform Land Use Review Procedure (ULURP).
Our Government Relations Group, which includes former elected and appointed officials provides our clients with strategic political insights and advocacy. Whether you need advice regarding government action or inaction, applications for discretionary approvals or assistance engaging with local community groups and politicians, we are poised to help and have a long track record of success.
Real estate owners, developers, lenders and other commercial interests rely on Herrick to efficiently resolve environmental impediments that can stand in the way of completing a transaction. Beyond the legal and regulatory issues, we understand the concerns of all public and private stakeholders at the deal table, and maintain productive relationships with governmental regulators, which help us effectively move deals forward.
Our tax attorneys advise property owners, developers, joint ventures and funds on the full breadth of tax-related considerations, including issues stemming from real property transfer taxes, 1031 exchanges and other tax-deferred disposition strategies. In particular, we counsel long-term owners of properties on minimizing their tax burdens with respect to a transaction.