Rosenberg & Estis, P.C., currently celebrating its 50th year as one of New York City’s pre-eminent real estate law firms, announced that the firm has established its NYC Development Group (NYCDG) to provide expert legal solutions for clients navigating the city’s rapidly evolving development landscape.
The announcement follows the recent approval of Mayor Eric Adams’ City of Yes for Housing Opportunity (COY) by theSubcommittee on Zoning and Committee on Land Use,which has paved the way for imminent NYC Council approval. COY builds on New York State’s enactment of major development incentives and legal changes this past April. Assembling a specialized team will enable R&E to harness thefirm’s collective expertise in deal structuring, property tax incentives, affordable housing, zoning and regulatory hurdles to tackle issues impacting the development of residential, commercial and other properties across the city.
“As New York’s largest real estate only law firm, R&E closely monitors market trends, as well as reforms occurring in Albany and at City Hall that impact, enable and incentivize development across the city,” said Michael E. Lefkowitz, Managing Member of Rosenberg & Estis, P.C. and a Leader of its Transactional Department. “Recent City of Yes approvals have changed the terrain again and our new Development Group is positioned to provide a one-stop-shop of comprehensive legal guidance that will enable clients to make the very best real estate decisions.”
NYCDG will be led by R&E Member Daniel M. Bernstein and Counsel Nicholas DiLorenzo (Tax Incentives & Affordable Housing); Counsel David J. Rosenberg (Land Use/Zoning); and Member Adam R. Sanders (Transactions).
Their expertise runs the gamut of development issues including: office to residential conversions and incentives pursuant to 467-m; New construction 485-x projects/Universal Affordability Preference; Construction wage and M/WBE Requirements; Opportunity Zone acquisitions, developments, and investments; NYC Industrial Plan; Neighborhood rezonings; ICAP; Private rezonings and entitlements; and more.
Said Bernstein, “The City of Yes approvals represent the most significant changes to New York land use and zoning regulations in decades and present developers with many new opportunities andchallenges. With 50 years representing the city’s leading real estate players, R&E has a deep bench of experienced attorneys able to consider available economic incentives, zoning hurdles and identify issues before they turn into project delays. We look forward to providing our services as part of the firm’s dedicated NYC Development Group.”
About Rosenberg & Estis, P.C.
Founded in 1975, Rosenberg & Estis, P.C. is widely recognized as one of New York City’s pre-eminent real estate law firms. R&E provides full-service representation and advice in every aspect of real estate, from performing due diligence and evaluating financing, to handling joint ventures, acquisitions and leasing, construction and design team agreements, property tax exemptions and abatements, land use and zoning matters, Real Property Income & Expense (RPIE) filings, real estate tax certiorari, co-op and condo offering plan filings and board representation, distressed situations workouts, foreclosures and bankruptcies, trust and estate planning, as well as the litigations and negotiations which sometimes ensue when deal-making. R&E’s wealth of experience in New York real estate makes it the ideal thought partner for owners, developers, not-for-profit corporations, educational institutions, sponsors, equity investors and lenders in both real estate transactions and in all court venues.
