Real Estate

Small to medium sized businesses with commercial real estate needs.

• Architectural & Engineering
• Broker & Transaction Litigation
• Building Codes
• Buying & Selling
• Condemnation
• Condominiums & Cooperatives
• Construction Contracts
• Construction Defects
• Construction Financing
• Conveyancing
• Eminent Domain
• Homeowners' Associations
• Insurance
• Land Contracts
• Land Use & Zoning
• Mechanics' Liens
• Mold Claims
• Mortgages
• Property Taxes
• Real Estate Loans
• Renting & Leasing
• Title Insurance
• Title Litigation
• Landlord
• Tenant
• Tenants' Rights

NY,
Bar Number: 3024742

NJ,
Bar Number: 035691999

New Jersey and New York.

American Bar Association, New York State Bar Association, and New York City Bar Association.

I regularly attend continuing education courses in commercial real estate, professional ethics, and related topics.

Please see http://www.jdsupra.com/profile/garyobrien/ for a list of recent articles, including "Commercial Tenants: Leverage is the Key to a Better Lease Deal" and "Lease Renewal - Things to Consider."

A client's office lease was set to expire December 31, 2009. The tenant has a small space of approximately 1,300 square feet, but it is on Madison Avenue in Manhattan, so even that small space equates to a lot of dollars. In December of 2008, the landlord approached the tenant about renewing for ten years. The tenant was receptive and asked the landlord for a proposal. The proposal was promptly faxed over to tenant and stated that renewal would be for ten years at $45 per square foot with a formula for escalations. The tenant was inclined to agree and execute a renewal amendment because, as the tenant put it to me, “The landlord is a good guy and I trust him. He said this is the going rate now.” The tenant’s wife convinced him to call me just to be sure everything was okay.

The tenant reluctantly called me and faxed me the landlord’s proposal and their current lease. I quickly determined that the landlord had other vacant space in the building that was advertised at $40 per square foot. I brought this to the landlord’s attention and he dropped the proposal to $40. That saved the tenant approximately $60,000 over the term.

I then suggested to the tenant that they look at other spaces on the market. They did and found two spaces that they loved. They received proposals from both of those landlords one of which was at $40 per square foot and one of which was at $38 per square foot. I then reviewed their current lease and made a list of provisions that were deficient or unfair to the tenant. We redacted the proposals from the two vacant spaces so that the landlord and address were not visible and sent them to the current landlord. The tenant told the current landlord that while they would like to renew in place, they were willing to move if they did not get terms they considered favorable. The landlord did not cave right away, but the tenant’s determination to move if the current landlord did not improve its proposal led to a ten year renewal at $37 per square foot, an increased base year for taxes and expenses (left out of landlord’s original proposal), release of tenant’s personal guaranty, and other changes favorable to tenant. I have no doubt that without the credible threat of moving, the tenant would not have been able to negotiate such a good deal. In the end, the tenant will save between $80,000 and $100,000 over the ten year renewal term and have no personal liability.

35

New Jersey and New York

I operate a boutique practice focusing on quality representation of commercial tenants and other businesses with commercial real estate needs. I have extensive experience in representing office, warehouse, retail, distribution, and research and development tenants in leasing matters, and building acquisitions and dispositions. I pride myself on helping the small to medium sized business compete with the large institutional landlord, seller, or buyer.

I believe in letting business leaders focus on doing business while he focuses on their real estate needs. Many businesses, like technology companies or beauty salons, real estate is simply another overhead supply. Unlike pens or shampoo, however, there are a lot more dollars tied up in real estate. I am dedicated to educating my clients about commercial real estate and to ensuring that their real estate needs are met with the fewest commitment of dollars over the long run.

I was real estate Counsel to Siemens Corporation, a Fortune Global 100® company with millions of square feet of real estate in the United States, including office, warehouse, research and development, distribution, manufacturing, and assembly. At Siemens, I was responsible for all types of real estate matters, including leasing, acquisitions, dispositions, mergers-and-acquisitions, land use and development, and environmental. Prior to joining Siemens Corporation, I was classically trained as a real estate lawyer and gained invaluable experience in the real estate departments of two large, reputable law firms. Prior to law school, I was a seasoned Manager for Mobil Oil (now ExxonMobil) and Woolworth (now Foot Locker).

(973) 623-6891

Monday through Friday
9:00 a.m. to 6:00 p.m. and by appointment other times.

Yes

I am open to billing arrangements. Fixed-fee or hourly fee are fine.

Negotiable, but competitive with the market.

I will talk to serious prospective clients on the phone to determine if I can be of assistance.

All depends upon the circumstances.