Condominium Conversions And Real Estate Development
At the law firm of Gabor & Marotta LLC, our New York attorneys provide extensive experience to condominium owners, business owners, landlords, developers and real estate lenders in all real estate development matters in Manhattan, Brooklyn, Staten Island and Long Island. Successful planning and execution of residential or commercial real estate developments require patience, strength and creative legal solutions.
We also represent international clients and investors in purchases and sales in New York City. Daniel Marotta, partner of the firm, is fluent in Italian and represents numerous foreign investors with real estate interests from Manhattan to the Hamptons.
Comprehensive Help With Real Estate Development Issues
There may be many complex issues involved in a single New York commercial real estate matter. There are many mitigating factors — including federal and state laws as well as local permits and regulations — that can affect your real estate transaction, so it is best to work with an experienced legal team from the beginning.
Our firm handles matters at all stages of real estate development, including:
- Commercial or residential projects
- Property development
- Land acquisition
- Condominium conversions
- Offering plans
- Zoning and land use
- Environmental concerns
- Drafting deeds and covenants
- Real estate contracts and leases
- Construction contracts
- Financing matters and investments
- Mortgages and construction loans
- Commercial property foreclosures
- Leasing or disposition
The New York State Condominium Conversion Process – Small Buildings and Townhouses
We provide full representation and consulting to building owners and developers who wish to convert real property to condominium ownership in New York state. We have had recent successes with even small condominium projects in Brooklyn, including 2 unit, 3 unit and 4 unit buildings and townhouses. We prepare the offering prospectus (Offering Plan) with pricing schedule and exhibits, and file everything to approval by the New York Attorney General’s Office. The process can take several months, and the New York State government filing fee is 4/10 of 1 percent of the total offering price ($750 minimum for a total offering price under $250,000, and $30,000 maximum fee for a total offering price of $7.5 million or greater). We handle all aspects of the sale of condominium units after the offering plan is declared effective and a new certificate of occupancy is obtained.
Our attorneys also assist New York landlords and developers with condominium conversions by ensuring that proper protocols are followed and that a planned conversion conforms to all municipal and state statutes and laws. These are not simple matters, and it is important you have competent representation through the myriad issues involved to save you time and money. We align you with the right consultants and tax professionals, and we work with your architects and contractors to make sure that your project is a structured success every time.
Real Estate-Related Litigation
We also assist in resolving disputes that arise in development and commercial real estate matters, with the goal of protecting our clients’ interests and investments, including co-op board disputes, mechanic’s liens, Article 78 proceedings, construction and demolition litigation, and breach of builder’s warranty claims.
Contact Our Attorneys
If your business is considering turning a building into condos, get the experienced legal representation you need in order to ensure that the process goes as smoothly as possible. Contact our New York lawyers online. You may also call our Manhattan office at 212-349-1200 or our Staten Island office at 718-390-0555.