The leadership of head of department Peter Miller has been instrumental to the success of this team. Real estate finance is the bedrock of the practice, and the group advises numerous international clients on lending, debt securitizations, warehouse loans and conduit financing. It also handles bond financings, REIT work and real estate workouts. Commercial banks, insurance companies, institutional lenders, pension funds, investors and developers make up its client base, and the lawyers also advise numerous clients in the hospitality industry.

It has been a high-profile year for Cadwalader’s real estate team. Well-publicized redundancies and the collapse of the CMBS market in particular have drawn attention to the group; however, market observers are adamant that its sterling reputation for providing top-class advice on intensely complicated deals remains the same. The team has started to reorient its practice towards advising on the real estate aspects of workouts and restructuring, and assisting private equity funds seeking to acquire distressed debt. It is presently advising JPMorgan Chase on restructuring the debt of Centro Properties, and John Zizzo recently advised the first mezzanine holder on the workout and mezzanine foreclosure related to four major office buildings in New York City owned by Macklowe. The transaction is indicative of Zizzo’s enormous expertise in workouts and restructuring and mezzanine loans; he is equally adept at financing arrangements, LBO financings, sale and leaseback and mortgage loans intended for securitization. Market observers compliment his “rational manner in transactions; he looks at the bigger picture instead of fighting trivial points.” Fred Altschuler represents institutional lenders and investment banks on loan origination and securitization and the establishment of commercial conduit programs. He also acts for investors acquiring distressed loans and properties. Christopher White concentrates on capital markets financing for domestic and international real estate deals, and has advised several investment banks and lenders on public and private securitizations, portfolio financings and commercial mortgage conduits. William McInerney has carved out a niche advising on the sale of performing and nonperforming mortgage and mezzanine loans. He also advises on loan restructuring and cross-border financings in Mexico and Central America.

“This team excels in extraordinary and unusual transactions,” report clients, who are equally impressed by its thoroughness and speedy responses: “The lawyers go through all the details and warn us of all the possible risks and get back to us quickly, even on weekends,” elaborated one interviewee. Sources add that despite the considerable bench depth of the team, deals are always staffed carefully. They also praise the lawyers’ commercial approach: “They work to get the deal done instead of trying to prove that they are the smartest people in the room.” The group has established an excellent corporate and finance-oriented real estate practice. On the corporate side, it is regularly involved in the real estate aspects of LBOs and M&A, illustrated by Michael Weinberger’s representation of a consortium of Apollo Management and TPG on its LBO of Harrah’s Entertainment. “An exemplary negotiator who will listen to the client’s point of view,” he concentrates on real estate finance and commercial mortgage securitization issues.

On the finance side, the team represents numerous household-name financial institutions, including Goldman Sachs and Deutsche Bank, and takes on restructuring matters. It also handles investment deals for foreign clients, and its work in this field is emblematic of the group’s strength in international transactions. In addition, the team boasts copious expertise in transactions in the hospitality industry. Recently, it has combined its experience of the hospitality sector with its international expertise to advise numerous funds and real estate companies on hospitality projects overseas. Steven Wilner is presently advising Kerzner Istithmar JV on financing the development of the Atlantis Hotel and Resort in Dubai. “A deal-maker rather than a deal-breaker,” he is valued by clients for ensuring that every angle of a situation is covered. During the past twelve months, the team has also expanded its dirt capability by organizing acquisitions for fund clients. Steven Horowitz recently acted for Meraas Capital on its $2.8 billion acquisition of a 20% interest in a joint venture with Boston Properties and US Real Estate Opportunities I to purchase the General Motors Building. Regarded by clients as “a superb lawyer who is exceptionally cool under pressure,” he specializes in the financing and acquisition of landmark properties throughout the USA, Europe, Asia and Latin America.

This firm's outstanding international connections appeal to clients with interests overseas and foreign companies seeking to invest in the USA, as the real estate team is able to bring a global perspective to deals that few can match. However, despite operating a predominantly international practice, the team is frequently instructed on major deals in New York. The Hearst Corporation recently employed the group to oversee the leasing of The Argonaut on 224 West 57th Street to a subsidiary of MI Group. The lawyers also handle joint ventures, fund formation, lending and repurchases for institutional investors, lenders, PPPs, REITs, equity funds and governmental entities. David Djaha heads the department.

Clients identify the accessibility of the partners and the firm’s lean staffing of deals as the distinguishing features of this team. “An exceptionally bright group that always gets the job done on time or earlier,” Debevoise & Plimpton is considered by commentators to be a great choice for deals likely to involve protracted negotiations as “the lawyers can handle all sorts of counterparties and put aside their egos and focus on the deal.”

The team operates a varied practice but clients agree that it is best known for its work on real estate funds, illustrated by its advice to Broadway Partners on the sale of its real estate fund. The team has also cultivated deep expertise in the retail industry. It has handled joint venture acquisitions of numerous shopping centers across California and Nevada, and is currently advising Westfield America on its contribution to a joint venture of shopping centers in Missouri valued in excess of $1 billion. On the dirt side, the team handles a range of development, leasing and purchasing work for major clients such as Rockefeller. Head of department Steve Alden handles the majority of these matters and has advised the company on sales, acquisitions and leasing throughout the USA and China. Clients rely on his wise counsel and ability to make a deal happen . Clients also praise Peter Irwin for his thoroughness and commitment to getting transactions completed. “A meticulous lawyer who is all over every issue, big or small,” Irwin is renowned for his work for JPMorgan Investment Management. The team also boasts a cadre of excellent up-and-comers, including Nicole Levin Mesard, whom clients describe as “a go-getter and an assertive negotiator who is responsive to a fault – she is always on her BlackBerry or returning calls.” She acts for Tishman Speyer and Westfield America on acquisitions, joint ventures and refinancing.

“A friendly yet sophisticated team with great local knowledge and contacts,” Dechert is widely recognized as an authority on structured finance and securitization. The group advises issuers, loan sellers, servicers and bond buyers on a wide array of structured finance products, including CDOs, and also handles the financing of debt purchases, workouts and restructurings, and the origination, acquisition and disposition of complex loans. Its expertise in the latter field is illustrated by its representation of a syndicate of domestic and foreign commercial and investment banks on the origination of a $650 million first mortgage loan secured by fee interests in a trophy retail property on The Strip in Las Vegas. The team’s excellent reputation has also secured it a wealth of instructions from international clients. Laura Ciabarra is currently advising the investment arm of a foreign government on its $1 billion financing for Morgan’s Hotel Group and DLJ Merchant Banking Partners’ acquisition of the Hard Rock Hotel & Casino in Las Vegas. Subordinate lending is the biggest part of her practice, and she possesses particular expertise in advising funds, banks and other financial institutions on mezzanine finance, B-notes, participation interests and intercreditor and co-lender agreements. She has also utilized the skills she gained as a bankruptcy lawyer to advise clients on workouts and the potential pitfalls of deals in the current market. Her businesslike approach to deals impresses interviewees.

DLA Piper combines the breadth of its international practice with a strong presence in New York to provide clients with “the resources of a large organization but the responsiveness of a small group.��� With such enormous capacity at its fingertips, the New York team “can get even the most complex deals done in a short timeframe, and cost-efficiently too,” clients declare. Its efficacy and client-focused attitude attract numerous high-profile engagements. The practice covers all aspects of dirt and finance-oriented work, including REITs, real estate capital markets and mixed-use development. It also makes excellent use of the firm's global network by advising foreign companies on investments in the USA and assisting domestic clients with projects abroad. Martin Polevoy recently advised Cornerstone Real Estate Advisors and Massachusetts Mutual Life Insurance on their $500,000 acquisition of six hotels and the establishment of new offices in Hong Kong and Amsterdam. His enthusiasm and immense knowledge are his greatest assets, according to clients: “He just loves his work and his experience is exceptional.” The team also represents HSBC, the Port Authority of New York and New Jersey and Fortis Property Group.

Renowned for its representation of lenders, this team handles first mortgage loans, bridge loans, mezzanine financings and loan workouts and restructurings. It is presently counseling RBS Greenwich Capital on its $245 million first mortgage financing to SL Green in connection with the refinancing and repositioning of 717 Fifth Avenue, New York. The team also advises banks on the sale, disposition, assignment and participation of whole loans, B-notes and loan participation interests, and acts for private equity funds on the purchase of such assets. Institutional equity investors also consult the group on acquisitions, joint ventures, development and financing of commercial real estate projects. Stephen Gliatta cochairs the department alongside Warren Bernstein, and both are recommended by clients for their strong understanding of business issues and strategy, and their "ability to focus on legal issues without pontificating in legalese.”

This firm has a wide-ranging practice that incorporates finance and dirt real estate work. Its clients are drawn from a range of industries, including healthcare, hospitality, retail and leisure, and it advises on projects of all shapes and sizes across the country. On the finance side, the team handles joint ventures, REITs, partnerships and the raising of real estate capital, and collaborates with the firm’s highly regarded structured finance group where necessary. Its dirt expertise leans towards M&A and development transactions, and it recently advised Coastal Marina on its $316 million purchase of the Trump Marina Hotel Casino in Atlantic City from Trump Entertainment Resorts. Richard Chadakoff heads the firm’s global real estate group and the New York real estate team. He has attained a wealth of experience in counseling major institutional lenders and developers on structured and securitized financings, loan participations and syndications, as well as sale and leasebacks and workouts. He acts as primary outside real estate financing counsel to GE Capital. Joshua Stein handles an array of dirt matters, including sales, purchases, leases, development and restructurings, and is often engaged as an expert witness and court-appointed receiver in real estate disputes. James Hisiger specializes in development and finance transactions concerning the gaming and hospitality industries, and has advised on such projects in Florida, Nevada and California, as well as New York.

This experienced and creative group can turn its hand to all types of transactions, from large-scale development to complex sales, acquisitions, financings, investment funds and workouts. International real estate is also covered by the team, which possesses vast expertise in establishing joint ventures to develop and operate real estate projects across the USA, Europe and Asia. Transactions in the hospitality and gaming industries are a particular strength of the group's, demonstrated by its representation of Las Vegas Sands on a variety of matters related to The Palazzo Resort Hotel Casino, a luxury hotel and casino resort connected to The Venetian Resort Hotel Casino in Las Vegas. Harris Freidus is advising Las Vegas Sands on the projects. Clients appreciate his common-sense approach and praise him for “not letting ego get in the way of deals – with Freidus you are discussing issues instead of watching a performer.” Developers, investors and lenders consult him on development, financing, securitization, joint ventures and restructuring matters.

The delightful Meredith Kane is renowned for her representation of government agencies, owners and developers on major development projects and complex financing, acquisitions and sales. She is presently negotiating a $1 billion agreement with a joint venture of Goldman Sachs and Related Companies to develop the West Side rail yards for the Metropolitan Transportation Authority. The team also handles complex finance and corporate-related real estate deals. Head of department Steven Simkin recently advised SL Green on mortgage and mezzanine financing for an office building at 28 West 44th Street in Manhattan. The group also advises numerous lenders, REITs and equity funds.

Enthusiastic and committed client service is the order of the day at Proskauer Rose, with clients showering praise on the team’s ability to turn work around quickly and accurately and its “terrifically practical and solution-oriented attitude.” The level of partner involvement on transactions also impresses clients: “The partners stay on top of everything and are directly involved in negotiation.” The retirement of Larry Lipson has had no discernible effect on the team, illustrating the cohesiveness and stability of the group that continues to take it from strength to strength.

The diversity of the team’s work has enabled it to maintain a healthy practice of development, financing, corporate and leasing matters. The group recently advised Boston Properties on its $4 billion acquisition of a portfolio of New York buildings from Macklowe Properties, including the General Motors Building, 540 Madison Avenue, 125 West 55th Street and Two Grand Central Tower. The “amazingly thorough and detail-oriented” Ronald Sernau led the deal, utilizing his extensive experience of advising real estate companies on investing in and developing properties in New York. David Weinberger worked alongside Sernau on the transaction. His strength lies in the origination and securitization of complex mortgage loans and structuring A/B loans, and his constant interaction with buyers and rating agencies has enabled him to build up excellent contacts in the industry. Clients describe Weinberger as “a levelheaded, goal-oriented attorney who can expediently obtain the results we want,” and particularly praise his negotiating skills.

In addition to dirt law, the team also enjoys a vibrant corporate and finance-related real estate practice, where it handles fund formation, M&A, REITs, joint ventures and real estate capital market issues. Steven Lichtenfeld has been involved in numerous complicated deals during his career and is always up to date on current trends. He cochairs the real estate capital markets and real estate finance groups and concentrates on public offerings, private debt and equity placements, M&A, senior and mezzanine financing and partnership matters. Peter Fass “is a decisive attorney who always looks for solutions,” praise interviewees. Issuers, underwriters, lenders and investors consult him on evaluating, structuring and completing securities transactions.

Schulte’s long-standing expertise in representing hedge funds leaves it well placed in the current market as such clients seek to acquire distressed debt and property. The team is equally well known for its representation of portfolio companies, major lending institutions and real estate companies such as Credit Suisse, Cerberus and Tishman Speyer. The latter recently employed the group to handle the recapitalization of The Chrysler Building, and the lawyers advised Credit Suisse on the financing of 450 Lexington Avenue in New York City. The team has also started to work closely with the firm’s bankruptcy department to advise clients on workouts and restructuring matters. Jeffrey Lenobel leads the real estate team and is “a practical attorney who can get a deal closed in a short timeframe.” His practice includes real estate finance, sales and acquisitions, securitization and development.

Shearman & Sterling thrives on corporate and finance-related real estate work and is particularly well known for its representation of foreign investors on real estate deals in the USA. Structured finance and lending matters are particular strengths of the group. Malcolm Montgomery recently advised Shorenstein Properties on its purchase of a $250 million senior mezzanine loan backed by 450 Lexington Avenue in Manhattan. He handles all aspects of real estate investment and finance, including debt portfolio financings, securitizations, restructuring and workouts. Chris Smith concentrates on dirt matters and advises a variety of clients on development, acquisitions and financings. His expertise extends to commercial office and mixed-use development as well as workouts, foreclosures and bankruptcy matters.

Historically, Sidley Austin has focused on capital markets-related real estate work, but in recent times it has significantly diversified its practice. Cross-border deals now account for a substantial portion of its work, and it is acting for an increasing number of hedge funds and private equity funds on investment deals. The team is also representing numerous Asian sovereign wealth funds and foreign pension funds seeking to invest in US real estate. In addition to the expansion of work and clients, the group is experiencing a surge in bankruptcy-related matters and recently advised Drawbridge Special Opportunities Fund and its affiliates on the workout and restructuring of the $1.2 billion equity bridge loan made to Macklowe in connection with its acquisition of a portfolio of office buildings from Equity Office Properties. Clients applaud the group for “investing in understanding our business and putting together the right team to match our needs.” Alan Weil heads the department.

Simpson Thacher is widely reputed as  “the preeminent firm for corporate real estate deals” due to its absolutely excellent representation of private equity funds. Peers enviously note that the team handles the majority of The Blackstone Group’s real estate work, and it has also forged strong links with The Carlyle Group. Recently, the latter company has instructed the team on a horde of massive deals, including its $700 million acquisition of a controlling interest in 666 Fifth Avenue through a joint venture with Kurzner. “An assured negotiator and great draftsman who can think carefully about the details without getting bogged down in them, Scott Kobak acts as lead counsel to The Carlyle Group and has accumulated abundant experience in advising private equity funds and institutional investors on acquisitions, senior and mezzanine financings and secured asset and credit facilities. Examples of the team’s work for The Blackstone Group include advising on its $96 million acquisition of five different classes of commercial mortgage pass-through certificates from Lehman Brothers. Greg Ressa heads the real estate department and oversees much of the group’s work for The Blackstone Group. He also represents numerous other real estate opportunity funds, among them Och-Ziff Real Estate and Dune Real Estate, on domestic and international M&A and real estate finance transactions. The team also acts as leading outside real estate counsel to Hilton Hotels and Equity Office Properties.

The premier real estate finance practice at Skadden has attained a fantastic reputation for its expertise in lending, securitization and capital markets-related deals. It handles a considerable amount of loan origination work, private placements and mezzanine lending, as well as private equity-backed transactions in the USA, Europe and Asia involving numerous different asset types. Recent market trends and the general dearth of available loans have led to the group taking on numerous large domestic and international enforcement actions, foreclosures and workouts.

Harvey Uris heads the global real estate finance team and is deemed the architect of the New York group’s excellent real estate capital markets practice. His expertise in loan origination and capital markets securitization is renowned throughout the state, and ensures he is instructed on the most headline-grabbing deals around. Deutsche Bank frequently retains him on major projects, and he recently advised Deutsche Bank Securities as lender on the assumption and restructuring of $1.9 billion highly structured debt for the General Motors Building in New York. The building was acquired for $2.8 billion from Harry Macklowe. Martha Feltenstein specializes in the formation of real estate funds and real estate securities offerings. She has acted for JPMorgan and Bank of America on complicated financing matters, and also advises the government of Singapore on investing in US real estate funds.

The team also handles its fair share of dirt work and is especially strong in development, headquarters leasing and advising borrowers. It is well known for its representation of Silverstein Properties in negotiations concerning the leasing for 7 World Trade Center and other World Trade Center sites, and is also advising Empire State Development on the Atlantic Yards development project.  Wallace Schwartz is advising Silverstein Properties on the former mandate. He has assisted many of New York’s biggest tenants on headquarters leasing matters, including Bank of America and numerous tenants of the New York Times Building. Schwartz has also represented developers, issuers and underwriters on deals in the gaming and lodging industries and is highly skilled at real estate securities. He heads the firm’s international real estate team.  Neil Rock is acting for Empire State Development on the Atlantic Yards project. His practice includes acquisitions, development, leasing, partnerships and corporate retention projects, and he also advises numerous real estate funds. Senior statesman Benjamin Needell acts for developers, buyers and sellers on major projects and has also completed many of the biggest headquarters transactions in the state.

This firm has earned an outstanding reputation for its work on corporate real estate deals, notably M&A and joint ventures, and is well known for its representation of Goldman Sachs and Whitehall Funds on such matters. Showcasing the team’s expertise, Anthony Colletta and  Joe Shenker recently advised Whitehall Street Real Estate Funds on its $1.3 billion acquisition of American Casino & Entertainment Properties from American Entertainment Properties. The transaction is indicative of Colletta’s expertise in forming and fund-raising private equity funds focused on real estate, and representing such funds on investment deals. Shenker enjoys a varied practice that covers domestic and cross-border joint ventures and advising private equity investors and prominent families on major transactions.

The group has acquired extensive experience in real estate fund formation, particularly funds established to make opportunistic investments, and has advised on the creation of numerous regional funds specializing in projects in the Americas, China, India, Japan and Europe. Real estate finance is another strength, evidenced by Arthur Adler's representation of a consortium of nine lenders on a $6.5 billion mortgage loan facility to finance Apollo and TPG’s acquisition of Harrah’s Entertainment. Adler advises borrowers, lenders and investors on loan and preferred equity transactions, and also handles the development and leasing of headquarters facilities and joint ventures focused on hotel, office and other commercial property. Vornado also frequently retains the group to handle financing and refinancing matters.

Weil, Gotshal & Manges has always housed an excellent real estate restructuring practice and its traditional strength in this field stands it in good stead to cope with the demands of the current market. It continues to handle other facets of real estate and is enjoying a booming practice advising on the real estate aspects of infrastructure projects. The group has also established a bustling hospitality practice. Long-standing client Trump Entertainment recently retained it to handle its $316 million sale of the Trump Marina Hotel and Casino to Coastal Marina. The “affable and easygoing” Philip Rosen is leading the transaction. He balances his responsibilities as head of department and head of the firm’s hospitality and gaming practices with a busy practice that covers the origination and restructuring of property debt and private equity work. He also handles M&A, REITs and joint ventures. Michael Bond heads the property transaction and finance team and is renowned for his representation of Lehman Brothers. He is highly regarded for his skill in corporate real estate deals and workouts, but also dedicates time to advising on joint ventures and strategic alliances, mortgage-based securitizations, private equity transactions and commercial lending.

This team was heavily involved in major sales and acquisitions and large-scale development during the first half of 2008, with highlights including advising Paramount Group on its $1.5 billion acquisition of interests in 1301 Avenue of the Americas, New York. While the firm is still occupied with several major developments, including the Port Authority Bus Terminal project for the Port Authority of New York and New Jersey, market trends have resulted in a surge of restructuring work for the group. Leasing is a key element of the practice, and Bloomberg, Apollo Real Estate Advisors and The Lawrence Ruben Company consult the team on such matters. Eugene Pinover leads the group, earning praise from clients for his ability to break down complex problems and explain them in a simple and straightforward way: “He has flair for crafting workable solutions to problems.” Pinover concentrates on sophisticated developments, financings and acquisitions, and has handled many deals for Paramount Group. Steven Klein specializes in REIT offerings and mergers, joint ventures, investment funds, financings and leasing. “A smart and practical lawyer who fixes problems instead of creating them,” he is currently advising Bloomberg on international leasing issues and acting for the Port Authority on the project outlined above.

It has been a busy year for this real estate titan in spite of the economic downturn. A raft of headline-grabbing deals has enabled the team to maintain its superb reputation as “the gold standard in New York,” and a vibrant dirt-oriented practice in a market that has seen several firms swept away entirely. It has amassed a huge client list of developers, owners, institutional investors, lenders, tenants and underwriters, and advises such clients on acquisitions, dispositions, joint ventures, development, financing, leasing, portfolio transactions and REIT issues. Sources attribute the team’s success to the lawyers’ “smart and incisive advice and understanding of what makes clients tick.” Jon Mechanic remains the group’s trophy lawyer and “the guy that most real estate lawyers aspire to be.” Undoubtedly one of the best-known lawyers in New York City, he is considered by clients to be “a terrific negotiator who intuitively knows how far he can push something and when to pull back.” He chairs the real estate department and is credited with building and managing a group of gifted practitioners. Among those practitioners is Rob Sorin, who recently demonstrated incredible skill and ability in advising Macklowe Properties on the $2.8 billion sale of the General Motors Building, 540 Madison Avenue, 125 West 55th Street and Two Grand Central Tower. “A brilliant lawyer and a prince of a guy who commands respect from his adversaries,” Sorin is well known for his extensive knowledge of commercial development, mortgage and mezzanine financing, and the sale and acquisition of office, hotel and retail properties. Harry Silvera worked alongside Sorin on the Macklowe transaction. Sources predict a bright future for this “enormously talented partner,” whose practice encompasses acquisitions and dispositions, leasing and joint ventures. Financial institutions, owners, developers and offshore investors flock to Joshua Mermelstein for advice on development, restructuring and refinancing, and joint ventures. He counts Brookfield Properties, Rexcorp Realty and Credit Suisse among his clients. Ross Silver’s balanced practice includes sales, acquisitions, financing, development and leasing work for both landlords and tenants. SL Green recently engaged him to organize its $1.6 billion acquisition of 388/390 Greenwich Street in downtown Manhattan. In addition to its phenomenal transactional practice, the firm also commands one of the premier zoning and land use practices in the state, representing developers and institutional clients before New York regulatory agencies. Stephen Lefkowitz specializes in structuring large-scale projects involving public/private development and financing arrangements, and is also highly skilled at structuring tax incentives with New York City and State. He is presently advising Forest City Ratner on the $4 billion Atlantic Yards project in Brooklyn. Melanie Meyers advises on environmental review, zoning, public approvals and PPPs, and recently assisted Forest City Ratner with preparing environmental impact statements and design guidelines for the Atlantic Yards development. Clients commend Lefkowitz and Meyers for their “tremendous knowledge and tireless energy.”  

Paul Hastings is part of the real estate elite, and has been repositioning aspects of its practice in light of the economic downturn. It maintains a bustling dirt practice advising clients on sales and acquisitions, development and deals in the hotel and hospitality industry, but on the finance side, it has leaned towards advising clients on workouts, restructuring and refinancing of late. Its top-flight clientele is undoubtedly helping the team to stay busy: the firm advises developers, financial institutions, opportunity funds and pensions funds, among them Marathon Asset Management, Fortress Investment Group and Investcorp. The group is no stranger to complex deals, evidenced by its representation of Talisker Partnership and affiliates on its $200 million acquisition of Canyons Ski Resort in Park City, Utah. Robert Wertheimer is vice chair of the department.  “A technically skilled and business-savvy lawyer,” he puts his expertise in development, financing, joint ventures, sales and acquisitions to excellent use advising entrepreneurial investors, investment funds and prominent real estate families on a wide range of issues. Commentators regard Marty Edelman as “one of the smartest lawyers in town.” He has acquired extensive experience of international transactions, including international real estate joint ventures, and has played a leading role in many of New York’s biggest real estate deals. Eric Landau has established a diverse practice that encompasses joint ventures, acquisitions and development, and is currently acting as outside general counsel to Millennium Partners. Stuart Mass handles much of the team’s commercial leasing work. He acts for major landlords such as Brookfield Financial Properties, as well as tenants including Citi and Bertelsmann. L&L Holding Company recently instructed him to organize a 15-year lease for 195 Broadway to Omnicom Group. On the real estate finance side, in addition to handling workouts and refinancing, the group continues to advise on more traditional matters such as fund formation, portfolio securitization, lending and purchases of distressed debt. Robert Grados specializes in structured finance transactions including syndicated deals, mezzanine, equity and corporate credit facilities and loans.

Stroock garners high praise from clients for its ability to provide top-end advice cost-effectively. The team operates a full-service real estate practice that includes development, financing, acquisitions, dispositions, condominiums, leasing and land use. With its group of “friendly lawyers who are great at crafting solutions to difficult problems,” the firm is applauded by market sources for its ability to settle contentious issues calmly. Clients particularly value the negotiating skills of the experienced and extremely diligent Steven Moskowitz, describing him as “a pragmatic lawyer who knows when to compromise and when to press the point.” He concentrates on representing owners and operators on investment deals but also acts for pension funds, real estate funds and REITs. Land use expert Ross Moskowitz guides developers, institutional investors and nonprofit organizations through state and municipal processes governing real estate transactions. He regularly appears before the New York City Planning Commission, the Landmarks Preservation Commission and the Board of Standards and Appeals, and his "thorough understanding of government relations and good relationships with the people at City Hall” are invaluable to clients. Moskowitz recently advised the New York Mets on its development of a new state-of-the-art baseball stadium in Queens. Lenny Boxer worked alongside Moskowitz on the project. “A monumental figure in New York real estate,” Boxer chairs the real estate department. His ability to push through complicated real estate transactions is legendary, and his practice covers a wide range of commercial real estate matters. Michel Evanusa has carved out a niche for herself advising builders, developers, lenders and borrowers on condominiums and cooperatives. She is particularly skilled in the formation, sale, management, financing and registration of such developments and is also adept at timeshare projects. On the finance and corporate side, the practical and business-oriented Brian Diamond represents institutional investors, real estate opportunity funds and investment advisers on forming and investment in real estate funds and joint ventures. He also advises lenders and borrowers on mortgage and mezzanine lending, real estate workouts and restructuring. William Campbell specializes in the origination, sale, purchase and securitization of commercial real estate loans. He has accumulated substantial experience in advising lenders on A/B-note financings and senior and subordinate mezzanine financings. Notable clients of the team include Vornado, The Carlyle Group, Silverstein Properties and The Trump Organization.

Greenberg Traurig’s New York team is able to draw on the firm’s vast national resources to great effect, giving clients access to a wealth of expertise that covers every facet of real estate law. The group’s far-reaching practice covers acquisitions and dispositions, equity structuring, joint ventures, commercial leasing and cross-border transactions, as well as affordable housing, hospitality and condominium developments. In early 2008 the team acted on some of the market’s leading deals, notably advising SL Green on its $1.6 billion acquisition of two buildings at 388 and 390 Greenwich Street from Citicorp, but the escalation of the credit crunch has witnessed the group acting on numerous distressed deals, including loan modifications and restructuring. While the volume of acquisitions and sales being concluded has decreased, long-term developments that are currently underway show no signs of slowing down. The team is presently involved in several such projects, in one instance advising Related Companies on the acquisition and development of the West Side rail yards. The “simply terrific” Robert Ivanhoe is advising Related Companies on this matter, and is widely recognized as the driving force of the team. He chairs the firm’s global real estate team and represents owners, developers and investors on a wide range of transactions, including development, financings and joint ventures. Stephen Rabinowitz chairs the New York real estate practice and devotes his time to advising developers, investors and institutions on structuring joint ventures, preferred equity investments and other debt and equity structures.

Kramer Levin’s superb zoning and land use practice places it among the upper echelons of New York real estate firms. The team impresses clients with its “real interest and passion for development and incredibly deep knowledge of New York regulations,” and is consequently instructed on many of the state’s most complex projects.  Samuel Lindenbaum has garnered a phenomenal reputation for land use work and is presently advising Columbia University on obtaining land use approvals for its new development schemes, including its new 17-acre campus in West Harlem. The team is also advising Vornado Realty Trust and Related Companies on the redevelopment of the historic Farley Post Office. Paul Selver and Michael Sillerman chair the land use department. Selver focuses on zoning and historic preservation matters, and has also served as special counsel in litigation defending challenges to zoning approvals. Sillerman advises major developers and medical, educational and cultural institutions on air rights purchases, landmarks, tax abatements, economic development incentives and other land use procedures and regulations. Aside from land use, the team handles a cornucopia of real estate matters. The Trump Organization regularly engages the group to manage major development deals, and the team also acts for The Hearst Corporation and Tishman Speyer. Jay Neveloff is commended by market sources for his practical and creative approach to such projects. He is currently advising the owners and developers of numerous innovative hotel condominium projects, including The Plaza Hotel, The St Regis and Trump Soho Hotel Condominium. Following market trends, the group has witnessed a marked increase in insolvency and refinancing matters, and its strong links to the firm’s bankruptcy division leave it ideally positioned to handle such work.

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“A talented and tireless team that understands the big picture and balances legal risks with the realities of deal-making,” Bryan Cave was instructed on some of the biggest deals completed in the market before the economic downturn took hold, including the $525 million acquisition of 120 Park Avenue for Global Holdings. The team’s increased representation of private equity funds and its long-standing relationships with some of New York’s biggest clients should enable it to withstand the current financial turbulence. Och-Ziff Real Estate frequently instructs the group on programmatic joint ventures for investment in real estate assets. The team also acts for some of the largest REITs in the country, and handles a substantial amount of commercial leasing work for major corporates such as Merrill Lynch. AIMCO recently engaged the group to organize the $275 million sale of a 156-acre apartment complex in Maryland, the REIT’s largest-ever single asset sale. On the leasing side, in addition to acting for major landlords, the team represents numerous retailers on nationwide leasing matters, among them Barnes & Noble and Bed, Bath & Beyond. The department also houses a fine land use team that advises The Carlyle Group, Rockrose Development, Boston Properties and others on zoning and land use issues. Robert Davis specializes in land use permitting and historic preservation and has niche expertise in matters arising under the New York City Zoning Resolution and Landmarks Preservation Law. Barry Ross specializes in complex development, joint venture and financing transactions.

Davis & Gilbert has established a superb office and retail leasing practice, evidenced by its roles on many of Manhattan’s largest leasing deals in 2008. It advises most of New York’s major owners, including Tishman Speyer, SL Green and Vornado, and its abundant expertise wins plenty of top-drawer mandates for the team. WPP Group recently engaged the group to organize the lease of the entire building at 636 Eleventh Avenue, New York for Oglivy & Mather. The team has cornered the market in retail leasing, where it counts Pret A Manger, Polo Ralph Lauren and Apple among its clients. It recently advised the latter on its building lease on Broadway and also handled the leasing of its New York flagship store at GM Plaza on Fifth Avenue. The latter transaction is emblematic of the team’s flair for negotiating leases for key New York locations, and its expertise extends to negotiating similar leases in other major cities for retailers. Clients commend the group for achieving the perfect balance between its size and workload. Head of department Gerald Uram personifies the team’s efficiency. As one observer elaborated: “Gerry just makes things easier - he doesn’t beat about the bush and also doesn’t hold fast on things that will never happen.” Clients also applaud his calm and down-to-earth demeanor: “He doesn’t stand on ceremony or have an ego.”

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This boutique firm is lavishly praised by clients for its superb client service: “The lawyers are incredibly thorough and out there to protect us at all times. They put themselves in our position and make us aware of the consequences of a particular strategy.” The group excels at transactions involving partnerships and joint ventures, where its vast experience ensures the lawyers can warn clients of all the potential pitfalls of a deal. It is advising Angelo Gordon on its joint venture acquisition of a shopping center in Las Vegas. Other notable clients include Prada and Sears/Kmart. Terri Adler leads the team.

This highly capable group handles acquisitions, dispositions, partnerships, joint ventures and real estate bankruptcy, as well as foreclosures, refinancings and developments. It regularly acts on inbound and outbound cross-border transactions and also has plenty of experience of deals involving Islamic finance. In the real estate capital markets field, the group is highly skilled at real estate debt funds, purchasing distressed debt and repo financing. Opportunity funds and private equity funds account for a substantial portion of its client base, but the team also represents numerous nonprofit clients, such as museums, charter schools and performing arts organizations. Andrew Levy possesses vast expertise in the hospitality sector, where he advises public and private companies on the acquisition of multi-asset portfolios, debt restructuring and hotel financing. His broad practice also encompasses representing capital markets clients on a wide range of real estate transactions. Eric Feuerstein has made a big impact on the team following his arrival from Fried Frank last year. He represents private equity funds, developers and investment banks, and is currently involved in some of the biggest development projects underway in New York.

Herrick Feinstein started out as a real estate boutique more than 80 years ago, and consequently has a long history in the field. The firm has established a far-reaching real estate practice that encompasses sales and acquisitions, development, joint ventures, leasing and real estate finance. The team possesses abundant knowledge of healthcare-related projects and green development, and is also adept at advising on condominiums, real estate finance and workouts. Carl Schwartz chairs the real estate department.

Despite market conditions, this firm has remained relatively busy on the dirt side due to its involvement in numerous massive development projects. Lawrence Eisenberg is currently advising Columbia University on the development of its new Manhattanville campus, and is also acting for Empire State Development on the anticipated Moynihan Station/Penn Station development project, which includes the transformation of the Farley Post Office Building into a new transport facility and the redevelopment of Penn Station. The lawyers can also be found advising on a growing number of foreclosures, loans, sales and acquisitions of distressed debt. The group also covers leasing, mixed-use development and construction lending. National cochair of the firm's real estate practice,  Nina Matis now spends the majority of her time in New York. She previously resided in the firm's Chicago office where she was renowned as "a spectacular lawyer and one of the best in the community." Her practice emphasizes the finance side of real estate transactions; she serves as general counsel and chief investment officer at iStar financial.

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Leasing is undoubtedly the forte of this team, and its considerable expertise in advising landlords and tenants on office leasing has attracted a fine collection of household names to the group. Dow Jones regularly employs the team to handle its leasing and subleasing matters in the USA and abroad, and the lawyers also advise Forest City Ratner on the leasing of The New York Times Building. Owners, developers and a handful of lenders also consult the team. Andrew Herz is the main contact for the group.