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In a market weathering unprecedented change, companies involved in high-stakes real estate deals need a steady, trusted hand to guide them. They also need counsel who can help them find new solutions for tough new challenges. The Paul, Weiss Real Estate Department offers clients the best of both worlds. Our long history of executing every kind of deal touching real property and our business and legal savvy help the most complex real estate projects succeed in fluctuating economic conditions.
Paul, Weiss advised certain funds sponsored by CIM Group, LLC and multiple third-party co-investors in the acquisition of five multifamily towers in Alexandria, Virginia for an aggregate purchase price of $506 million.
On June 24, real estate partner Salvatore Gogliormella and associate Peter Borock gave a presentation at the request of the New York State Judicial Institute to the New York State Unified Court System’s law clerks and court attorneys.
UPDATE: New York City Eliminates Personal Liability of Individual Guarantors under Certain Retail Leases, for Payment Defaults Occurring during the Coronavirus Pandemic
New York City has eliminated the personal liability of individual guarantors under certain retail leases for defaults between March 7 and September 30, 2020.
As a result of increasingly restrictive government public health measures, including closures of non-essential businesses and even orders to “shelter in place,” retailers across the country have begun trimming hours of operation or closing their stores entirely, and tenants are weighing whether to abandon premises they lease or to withhold rent.
Real Estate partner Salvatore Gogliormella and associate Peter Borock will deliver a presentation titled “Abandonment of Leases and Abatement of Rent during the Coronavirus Pandemic” to the Young Presidents' Organization’s Big Apple Gold Chapter.
Awards & Recognition
Real estate partner Meredith Kane is named a “Real Estate Trailblazer” in The National Law Journal’s April 2020 issue. Meredith is recognized for her work in large-scale urban development projects, such as representing the Metropolitan Transportation Authority in the financing and developing of Hudson Yards and in ongoing projects to transform Midtown East, the heart of Manhattan office space.
Paul, Weiss is representing homebuilder Stanley Martin Communities in its acquisition of the homebuilding assets of Essex Homes in North Carolina and South Carolina.
Real estate partners Mitchell Berg and Peter Fisch’s latest transactional real estate column, “LIBOR’s Replacement In the Real Estate Loan Market,” appeared in the February 13 issue of the New York Law Journal.
Paul, Weiss is advising Simon Property Group in its acquisition of an 80% ownership interest in The Taubman Realty Group.
Real estate partners Mitch Berg and Peter Fisch’s latest transactional real estate column, “Considerations for Ground Rent Reset Provisions,” appeared in the December 18 issue of the New York Law Journal.