New York Real Estate Law
In hiring The Law Office of Nicholas E. Bowers, PLLC, we promise to provide you with the highest level of support, counsel, and advice to guide you from start to finish with buying, selling, and leasing residential, commercial, and mixed-use property. We have the knowledge and experience to make your real estate transactions, whatever it may be, proceed smoothly from beginning to end. To that end, we offer our full attention to every important detail of the transaction, from start to finish. This is true whether you are a first-time home buyer or an experienced developer.
Part of our service is offering creative solutions to roadblocks in coming to terms in a contract, lease, or joint property agreement (sometimes also referred to as a joint venture). Unlike in litigation, a New York real estate transaction is one that both parties want to see through to the end because it’s beneficial for everyone. We believe that obstacles to making that happen—whether prior to signing a contract or near the closing—are merely opportunities to develop solutions that work for our clients.
New York Residential Real Estate
We will represent you through the purchase, sale and leasing of houses, condominiums and cooperative apartments. Typically, a residential real estate purchase or sale represents a very significant investment for our clients, and we treat it as such. We want our clients to be able to make a fully informed decision about their property. On the purchase side, we conduct extensive due diligence. With that information and the knowledge of our clients’ concerns, we are able to negotiate contracts that protect our clients and reflect what they have bargained for. On the sale side, we not only offer our strength in negotiating a contract that facilitates a smooth transaction, we also have the experience to handle the issues and challenges that can occur along the way. Having done thousands of closings, we are also very knowledgeable about the industry standards so that we can manage our clients’ expectations as what contractual rights we typically see. Whether it is a title issue, prior-owner liens, or clearing violations and open permits, we can provide you with the means to work through these issues quickly and with as little stress as possible.
New York Commercial Real Estate
Whether you are a small business owner, professional association, or representative of a multi-state or international concern, our firm offers smart, efficient, and cost-effective representation for the purchase, sale, financing, and leasing of offices, stores, restaurants, office buildings and residential apartment buildings of all types and sizes throughout the five boroughs of New York City; Manhattan, Brooklyn, Queens, The Bronx, and Staten Island, as well as Suffolk, and Nassau County on Long Island, and Westchester County. Our firm can provide the expertise and attention of a large law firm, while providing the affordable rates and personal service you find at smaller firms.
We are often hired at an early stage in these transactions to negotiate and advise on the Letter of Intent/ Memorandum of Understanding that will form the initial terms the parties have agreed to in concept.
One of the great features of New York City is our mixed-use buildings and neighborhoods. We understand the nuances and challenges of buying and selling mixed-use properties, and can provide the legal assistance needed to be sure of the orderly transfer of title, commercial tenants, residential tenants, and financing from seller to purchaser.
Tax Deferred Exchanges
If you are selling a commercial or investment residential property and are looking to purchase a new commercial or investment residential property, our firm has years of experience in representing parties taking advantage of IRC §1031 tax-deferred exchanges. From relinquishing your property to identifying and closing on your replacement property, we can help to ensure that your exchange qualifies for the benefits offered by IRC §1031.
We are experienced in assisting foreign clients in investing in real property and businesses in the United States. We know how to spot issues related to foreign investment such as withholding proceeds of the sale pursuant to tax regulations as well as other reoccurring issues such as how to get a Power of Attorney notarized while living outside of the United States. Additionally, we work closely with immigration lawyers and accountants to get our clients the team of support they need for their transactions.
Joint Ownership/Joint Venture Agreements
When our clients want to formalize their ownership of, or interest in, real property with another individual or entity, we help them consider all of the aspects of investing in, owning, operating, and eventually selling the property or their interest in the property. Sometimes also called a “joint venture agreement” (particularly when the parties are business entities), our firm’s creative approach to problem solving combined with our pragmatism and experience allows us to craft agreements tailored to the needs and interests of our clients. Whether you need terms covering capital contributions, financing and payments, governance and operation, selling the property (in friendly or not-so-friendly circumstances), or any other particularity of your transaction, we will work with you and the counterparties to ensure that all your bases are covered.
New York City Landlord/Tenant Issue and Lease Buyouts
As part of our practice, we regularly advise clients on all aspects of Landlord/Tenant Law. Our representation of clients can be as simple as a matter related to the upkeep of an apartment or as complicated as a structured buyout of a rent-stabilized or rent-controlled unit.
Many of our clients reside in the five boroughs of New York City; Manhattan, Brooklyn, Queens, The Bronx, and Staten Island. As well as Suffolk, and Nassau County on Long Island, and Westchester.