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, we represent sophisticated owners, developers, lenders, investors and other stakeholders in a diverse range of activities.
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.
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.
We regularly represent high-profile landlords and tenants in retail and office leasing, sale leaseback transactions and complex ground leases for retail, commercial and industrial properties. From small office spaces to entire building leases, you can rely on us to guide you through every phase of your transaction – from term sheet to move-in.
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.
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 litigators are steeped in the industry, so we work smarter and faster than general litigators, who need to get up to speed on complex real estate matters. We also have an ingrained sense of the deal – which allows us to aggressively defend your interests, both in and out of court. Our litigators also stay at the forefront of trends in dispute resolution and case law. For example, for the past 27 years one of our partners has penned the New York Law Journal's weekly column on real estate case law. Another one of our partners authored the book New Jersey Foreclosure Law, a seminal treatise that is regularly used by New Jersey's judges and legal practitioners.
Loan Workouts, Restructurings and Foreclosures
Lenders, borrowers, investors, special servicers and other stakeholders rely on our experience to facilitate the restructuring and recovery of real estate assets. We also represent portfolio managers in acquiring, restructuring and foreclosing real estate loans, and in selling and leasing acquired properties.
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.
- One of Chambers USA's top 15 New York real estate law firms
- 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.
- One of New York City’s largest commercial real estate law firms (The Real Deal, 2015-2019)