Established as a real estate boutique in 1928, Herrick maintains one of the country’s largest and most accomplished commercial real estate law practices. From our offices in New York City; and Newark, New Jersey; and Pittsburgh, Pennsylvania we represent sophisticated owners, developers, lenders, investors and other stakeholders in a diverse range of activities.
Development
Our lawyers and urban planners handle every phase of the development process. Early on, we counsel clients on zoning and due diligence matters, and are actively involved in site acquisitions, assemblages and development rights transactions. We also assist in forming joint ventures, negotiating financing facilities, and operational aspects of the project, including leasing, construction, property management and condominium law concerns.
Acquisitions and Sales
We counsel clients in the acquisition and sale of commercial real estate across the U.S. Our lawyers have extensive experience in local and national transactions, including single asset and portfolio transactions, and are known for developing practical legal solutions that help clients realize hidden value. From a trophy office building acquisition to the sale of a boutique hotel, you can rely on our ability to effectively structure and close even the most complex deal.
Land Use and Zoning
Our lawyers and urban planners assist clients with zoning changes, special permits, variances, development rights transfers, landmarks proceedings, tax abatements and economic development initiatives. We have broad experience handling government approvals, and leading rezoning applications through the New York City Uniform Land Use Review Procedure. We also help clients address environmental risks by conducting due diligence, providing compliance counseling, and assisting with regulatory permitting and approvals.
Public Private Partnerships (P3s)
We represent developers, investors, government entities, not-for-profits, lenders and contractors through all phases of P3 transactions, including the development of procurement requests for governmental entities, crafting procurement responses for project sponsors and their investors, structuring financing arrangements, negotiating construction and management contracts, and executing dispositions and restructurings.
Government Relations
Our government relations group, which includes elected and appointed officials at the federal, state and local level, guides clients in all phases of the legislative and administrative process, including representation at all New York City agencies and entities that oversee commercial real estate development and activity.
Commercial Leasing
The Herrick leasing team represents high-profile landlords and tenants in retail, office and industrial property leases across a range of industry sectors. From small spaces to entire buildings, our lawyers partner with clients through every phase of a transaction – including term sheets, negotiations, construction management agreements and governmental incentive programs. Herrick enables a landlord or a tenant to move seamlessly from term sheet to move-in.
Our Real Estate lawyers are highly skilled in the creation, negotiation and operation of ground leases for properties throughout the country with an emphasis on development sites, including industrial developments, office buildings, multifamily residential, hotels and long-term leases with governmental entities and public authorities. We handle all types of leases for clients, including ground leases, net leases and subleases. Our attorneys have the experience and knowledge to represent clients in the most delicate and complex leasing negotiations.
Real Estate Finance
We represent a wide array of institutional and non-institutional lenders and borrowers in mortgage, mezzanine and other financing transactions (including loan participations and A and B note structures). We counsel our lending clients on their due diligence and structuring needs, including for construction loans and specialized assets such as ground leases, condominiums, hotels, assisted and senior living, hospitals and charter schools. Herrick is a one-stop shop for financing transactions, offering a deep understanding of the intricacies of the process from commitment to closing.
Joint Ventures
As the number of participants in a transaction grows, so too does the need for experienced joint venture and fund counsel. Our attorneys work closely with the principals and their various partners to structure their legal and business relationship through the lifecycle of their venture.
Cooperatives and Condominiums
We are active in all areas of cooperative and condominium law, particularly issues requiring more sophisticated representation, such as multi-faceted transactions, litigation and investigations by governmental agencies, including the New York State Attorney General's Office. We regularly help developers navigate public offerings of new construction and conversion projects, development rights sales, and the structuring of complex transactions such as the creation of condominiums to separate ownership interests in individual buildings. We also represent lenders in assessing loans for potential condominium projects, and frequently advise on problematic issues once a loan is made. Additionally, we serve as general counsel to the boards of directors and managers of numerous cooperatives, condominiums and homeowners associations throughout the New York metro area. Entities rely on our team when dealing with transactional issues of all kinds and, when necessary, we turn to our seasoned litigators to find solutions when challenges persist.
Real Estate Litigation
Our Real Estate Litigation team maintains a sophisticated practice with an impressive record of favorable results in real estate, construction and land use matters. Our litigators are steeped in the industry, so we are more efficient than general litigators, who need to get up to speed on complex real estate matters. Through our close collaboration with our transactional team, we bring an ingrained sense of the deal - which allows us to aggressively defend client's interests. We strive to resolve conflicts and settle on favorable terms where possible, thereby containing the litigation costs. We represent clients in virtually all forums, including state and federal courts, with state and federal agencies and alternative dispute resolution arenas. Owners, developers, financial institutions, borrowers, landlords, design professionals, construction professionals, condominium boards and others seek our practical guidance on a wide range of issues. The team has significant experience in construction defect claims, investor and joint venture relations, breach of contract and fiduciary duty, foreclosure and bankruptcy proceedings among others.
Loan Workouts, Restructurings and Foreclosures
We are at the forefront of the real estate workout and restructuring arena with market-leading experience representing borrowers, lenders and preferred equity investors with distressed debt, loan recapitalizations, deed in lieu transactions and loan sales. We have decades of experience as a first-tier workout and loan enforcement firm with a battle-tested foreclosure practice. Our lawyers have aggressively and creatively guided clients with distressed loans and properties across the United States through numerous cycles in the real estate market. We help our clients navigate the troubled waters of both out of court resolutions and, if necessary, in court proceedings. We work closely with our clients to mutually determine the best course of action required to achieve the desired result, and we pride ourselves in providing creative solutions in difficult situations.
Recent Accolades:
- Chambers USA ranked for excellence in Real Estate
- Law 360's "Top 100" U.S. based law firms with the most global real estate partners
- Ranked for excellence in real estate law and land use and zoning law, US Legal 500
- Named a "real estate powerhouse" by Crain's New York Business
- Named a Tier 1 firm in New York City for Real Estate Law by U.S. News – Best Lawyers® “Best Law Firms” in 2021; and ranked nationally for Real Estate Law, Land Use & Zoning Law and Real Estate - Litigation 2021.
- Recognized as a leading firm for Real Estate and Tax by Legally Israel 100 - Israel Desks' League Tables (2022 & 2021)
- One of New York City’s largest commercial real estate law firms (The Real Deal, 2015-2019)
