Profile submitted by Adam Leitman Bailey
Actively at the helm of the law firm he built from scratch, Adam Leitman Bailey, Esq. practices residential and commercial real estate law. Among New York's most successful and prominent real estate attorneys, Mr. Bailey has been honored with a Martindale-Hubbell "AV" Preeminent ranking and a Best Lawyers ranking for himself and his law firm, and selected as one of New York's Top 100 attorneys by Super Lawyers, which included attorneys from only five real estate law firms.
Notable wins have included:
- Lorne v. 50 Madison Avenue LLC, an Appellate Division decision that finds responsibility for repairs of newly constructed buildings remains with Sponsor instead of Condo Board;
- Hartman v. Goldman, an adverse possession case of first impression before New York’s Appellate Division;
- 542 East 14th Street v. Lee, a case of first impression before New York’s Appellate Division defining expansion of rent regulation law for non-primary residence cases;
- Interstate Land Sales Full Disclosure Act Cases, turning to a forgotten federal statute called the Interstate Land Sales Full Disclosure Act, he creatively discovered a way to void the contracts of sales for buildings over 100 units resulting in hundreds of settlement and court victories;
- Rivas v. McDonnell, a noteworthy Appellate Division decision involving an interpretation of the recording statute;
- Sky View Parc Purchasers Association, et al. v. FTC Residential Company II, L.P., the largest condominium settlement in New York history;
- Trump SoHo, where Adam Leitman Bailey prevailed in a settlement providing millions of dollars to clients based on fraud claims under the Federal Securities Law. According to one publication, the case has been described as “a watershed case in the world of condo litigation. * * * [C]ondo attorneys said that developers are now far more reluctant to disclose sales information to buyers’ attorneys, for fear of legal repercussions if they turn out to be wrong”;
- Crave Ceviche Bar, Adam Leitman Bailey, P.C. Lands Largest Settlement in New York History for a Restaurant Opened Less Than Seven Months.
Adam Leitman Bailey has been elected as a Fellow of the American College of Real Estate Lawyers (ACREL), where he serves on the Insurance and Title Insurance committees, and the American College of Mortgage Attorneys (ACMA).
A New York State Judge wrote that Mr. Bailey "was the best trial lawyer I saw in my nine years as a Judge in New York City." The Commercial Observer named him as one of New York's Most Powerful Real Estate Attorneys. Real Estate Weekly recognized him as "one of the most respected commercial real estate attorneys in not only New York City, but arguably, the country."
The New York Times referred to his legal strategy and legislation proposed in one case as “novel,” in addition to remarking on another case in which “Adam Leitman Bailey fought on…grinding through excruciating detail and obscure Perry Mason moments.” After Mr. Bailey’s firm used a forgotten statute to prevail in a landmark case, the Wall Street Journal quoted a prominent New York developer’s attorney who called the holding a “game changer” affecting real estate nationwide. In another case hailed as “the city’s largest condo refund ever” (Curbed NY) involving “a settlement likely to send shivers through the ranks of the city’s condo developers” (the New York Post), the settlement he received was the largest condominium settlement in history for one building, and in another transaction, he obtained the largest government grant ($21 million) for a cooperative in New York history. The Commercial Observer ranked another victory among their “15 Most Fascinating New York Real Estate Cases of the 21st Century.” Most recently, Mr. Bailey secured the largest settlement in New York City history for a property casualty law suit.
Dateline NBC referred to Mr. Bailey as “aggressive, tenacious and smart” in asking him to share his negotiating secrets on its nationally syndicated television program. Mr. Bailey’s advocacy has prevailed in numerous important trials and cases before various courts and trial venues, including Housing, Civil, and New York State Supreme and Federal Courts, as well as various New York Appellate tribunals.