REAL ESTATE PRACTICE

SAHN WARD & BAKER represents clients in all aspects of commercial and residential real estate transactions. We counsel and advise clients on the sale and acquisition, financing, leasing, construction and use and development of commercial and residential real property. We also represent clients in obtaining all necessary land use approvals and permits from local, state and federal government agencies in connection with the use and development of their properties.

Real estate services include pre-contract due diligence and investigation; entity formation and structuring; preparation and negotiation of contracts of sale, leases, easement agreements, restrictive covenants, license agreements, construction agreements and financing documents; resolution of title issues; preparation of closing instruments and representation at closings.

In connection with real estate transactions, the Firm also obtains subdivision and partitioning approvals, zoning changes, special permits, variances, environmental permits and site plan approvals.

Our real estate clients include Fortune 500 companies, prominent regional businesses and developers, government agencies and authorities, as well as individuals. Representative clients include Metropolitan Transportation Authority, Long Island Rail Road, The Great Atlantic and Pacific Tea Corporation, Inc., King Kullen Grocery Co., Commerce Bancorp., Inter-Capital Realty Corp., Inc., AVR Realty Company, Chasanoff Properties, Spiegel Associates and Westfield Corporation, Inc.

The following illustrates matters handled by the Firm:

Representation of the purchaser of a ten acre camp and school property in West Hills, New York, including litigation in state trial and appellate courts relating to a right of first refusal to purchase the property allegedly held by a tenant. Success in the litigation cleared the way for our client to close on the $3.25 million acquisition. The Firm also represented the client in all zoning and building applications for improvements to the camp.

Representation of a commercial property owner in connection with the financing of a 25,000 square foot expansion of a warehouse and manufacturing facility in Port Washington, New York. The project involved financing from the Nassau County Industrial Development Agency, the federal Small Business Association through the Long Island Development Corporation, and straight financing from G.E. Capital Corp. The project also included obtaining land use approvals from the Town of North Hempstead, and negotiation of a construction manager agreement on behalf of the owner.

Representation of a client in connection with the purchase and mortgage financing of a 72,000 square foot building in the Town of Hempstead, New York, as well as the sale of the client’s existing facility in Brooklyn. Our representation included obtaining variances for the alteration of the building and successful defense of the variances when challenged in court by an adjoining property owner. This transaction also involved a tax-free exchange under Section 1031 of the Internal Revenue Code.

Representation of the purchaser with respect to land use issues in the acquisition of a 40 acre tract of land in Old Westbury, New York and continued representation of the client for the subsequent subdivision of the property into building lots.

Representation of the owner of a $30 million waterfront estate property in Nassau County, New York, in connection with obtaining subdivision, site plan and variance approvals for the development of the property.

Negotiations and representation on behalf of the owner of the historic A. Conger Goodyear house in Old Westbury, New York, for sale of the property for $2.1 million to an international architectural preservation group.

Sale of two waterfront properties used as boatyards and marinas in Manorhaven, New York. Both multi-million dollar transactions involved structured financing provided by the seller to assist in the sale.

Two multi-million dollar purchase and financing transactions on behalf of subsidiaries of The Hine Group for the acquisition and development of properties on Marco Island, Florida. The first transaction was a $4 million land acquisition loan from Lehman Brothers Holdings Inc. for a parcel of land that features nine luxury estate homes. A $1.5 million construction loan for the first of nine homes was funded by a Florida lender. The second transaction, a $5 million land acquisition loan also from Lehman Brothers Holdings, Inc., was for the purchase of two lots that will contain a mixed-use development containing 14 commercial units and 32 luxury residential condominiums. A $7.8 million building construction loan will be funded by First National Bank of Florida for the mixed-use development.

Preparation and negotiation of a telecommunications access agreement for a Class A office building complex in Nassau County, New York.

Representation of major institutional lenders in connection with residential real estate transactions in Nassau and Suffolk Counties, New York, including JP Morgan Chase Bank and Bank of America.