Every real estate project inherently involves risk. From contract negotiations, acquisition, design, permitting and zoning, through obtaining a certificate of occupancy, complying with state and local laws, and addressing any post-construction issues, there are ample opportunities for conflicts, delays and cost overruns.
Pryor Cashman’s Real Estate Development Practice guides property owners, developers, construction managers, general contractors, architects and other design professionals through every aspect of development and construction. We start by structuring the most advantageous ownership structures, then we assist clients with financing vehicles and help to manage the many challenges that can arise throughout the development process.
What We Do
For nearly three decades, Pryor Cashman real estate attorneys have been at the forefront of New York City development. Beyond New York, we've worked on large-scale projects throughout the tri-state region, and from California to Florida, where our other offices are located. We draft and negotiate sophisticated agreements for such developments as:
- Warehouse facilities and industrial sites
- Hotels
- Shopping centers
- Mixed-use, large-scale coops and condos
- Office buildings
- Retail establishments
- Residential properties including multifamily complexes
- New construction on vacant land
Collaborating closely with attorneys from our Real Estate Finance, Sales + Acquisitions, Leasing, and Residential Real Estate Practices, our industry teams, and our Banking + Finance, Private Equity, and Tax Groups, we ensure that projects run smoothly from start to finish.
Structuring Projects That Drive Profits
Prominent developers and property owners seek our comprehensive experience in navigating the complexities of the pre-development process including:
- Preparing and negotiating operating agreements
- Structuring joint venture agreements
- Negotiating and closing property acquisitions and lease agreements, including ground leases
- Securing construction, bridge and permanent financing
- Structuring transactions from a tax-advantaged viewpoint
- Resolving zoning issues and strategizing to acquire excess development rights
- Acquiring government permits and approvals
- Negotiating and drafting various contracts, including brokerage agreements, construction, architectural, design and engineering contracts
We take a proactive approach, addressing potential issues before they become problems. For example, we review the pro forma right away, then ask all the right questions to ensure a smooth process. When necessary, we consult with our real estate litigation attorneys to anticipate possible areas of dispute and then work to mitigate any risks while documenting the transaction.
The Right Relationships Matter
Good government relations are often essential to create favorable outcomes. Our land use and zoning attorneys skillfully navigate projects through the numerous governing agencies in New York City and in New Jersey. We also maintain strategic partnerships with attorneys in other cities throughout the U.S. to address discreet administrative, regulatory and other government-relations matters specific to local markets.
