Real Property & Environmental Law Alert

Real Property & Environmental Law Alert

Transactional Real Estate, Development/Redevelopment & Environmental Law

Category Archives: Transactional Real Estate & Leasing

Subscribe to Transactional Real Estate & Leasing RSS Feed

Gibbons Real Property & Environmental Practices Highlighted by Chambers USA

Posted in Environmental & Green Issues, Transactional Real Estate & Leasing
The Gibbons Real Property & Environmental Department, and seven of its attorneys, were among the 10 Gibbons practice areas and 27 individual attorneys ranked in the 2014 edition of the Chambers USA Guide to America’s Leading Lawyers for Business. Gibbons has appeared in the Chambers guide since its inception, and, for the past three years, Gibbons has also contributed the state overview for the New Jersey section of the publication. The firm’s Environmental Department ranked in Band 1 and Real Estate ranked in Band 2. Chambers annually rates the nation’s leading business lawyers and law firms through comprehensive interviews with top companies, attorneys, and business executives, plus extensive supplementary research… Continue Reading

Appraisal Provisions in Leases Mean More Than You Think in New Jersey

Posted in Transactional Real Estate & Leasing
It is a common belief that appraisal provisions in leases governing future renewal rents don't really mean anything. The logic behind this conclusion is that regardless of what the lease says, if the tenant doesn't receive a new rent number that justifies staying, it will leave. There is a lot of truth to this. However, a recent New Jersey Appellate Division decision, Cablevision of Oakland, LLC vs CK Bergen Holdings, LLC, App Div 27-2-3149 demonstrates neither a landlord nor a tenant can rely on conventional wisdom as a reason to forego doing the right job in the documents. If you are concerned about the methodology to be used in the appraisal process you had better make that clear in the lease. And if you want the Court to have the power to review an appraisal to determine whether there was compliance with the methodology mandated by the lease, you better make that clear in the lease, too… Continue Reading

Gibbons Director Presents at New York County Lawyers’ Association Program

Posted in Transactional Real Estate & Leasing
Ivette P. Alvarado, a Director in the Gibbons Real Property & Environmental Department, recently spoke at the New York County Lawyer's Association "New Jersey Bridge the Gap" program. A returning speaker, Ms. Alvarado's presentation on December 6, 2013, "An Introduction to Real Estate Closing Practices in New Jersey," focused on the intricacies of residential and commercial real estate transactions in New Jersey… Continue Reading

Gibbons Real Property & Environmental Department Ranked in 2014 Best Law Firms

Posted in Development/Redevelopment, Environmental & Green Issues, Transactional Real Estate & Leasing
Gibbons P.C. is proud to announce that five practices within its Real Property & Environmental Department have achieved national and metropolitan rankings in the 2014 edition of Best Law Firms, published by U.S. News and Best Lawyers®, the oldest and most respected peer-review publication in the legal profession. In addition, 11 attorneys in the Department have been individually ranked… Continue Reading

Gibbons Russell Bershad Named Among Top 5 Real Estate Attorneys in New Jersey by the News Funnel

Posted in Transactional Real Estate & Leasing
Russell B. Bershad, Co-Chair of the Gibbons Real Property & Environmental Department, has been named among the Top 5 real estate attorneys in New Jersey in a recent FunnelCast survey conducted by The News Funnel. Mr. Bershad has previously been recognized as a leading Real Estate lawyer by his peers in such publications as New Jersey Super Lawyers, Chambers USA Guide to America's Leading Business Lawyers, and Best Lawyers in America… Continue Reading

From Ink to Occupancy – Part Three: Land Use Due Diligence – The Title Myth

Posted in Transactional Real Estate & Leasing
As the third installment in the series, "From Ink to Occupancy, A Game Plan for a Successful Real Estate Project," stemming from the Gibbons Women's Initiative Seminar Series held in May, this blog addresses the question of whether title review alone is sufficient for purposes of ascertaining what restrictions are in place for a property being acquired. The simple answer is NO. All too often commercial buyers anxious to close on a property take shortcuts and limit their due diligence to title review as opposed to conducting land use due diligence. This blog explains why, particularly in New Jersey, it is critical to conduct land use and zoning due diligence in addition to title review prior to the acquisition of a property, so that you can be fully aware of any potential restrictions impacting the property… Continue Reading

Gibbons Real Property & Environmental Department Featured in 2013 Chambers Edition

Posted in Environmental & Green Issues, Transactional Real Estate & Leasing
The 2013 edition of the Chambers USA Guide to America's Leading Lawyers for Business features the largest number of Gibbons practice areas (10) and individual attorneys (26) ever ranked in the top tiers of this publication. The firm has appeared in the New Jersey section of the Chambers guide since its inception and this year has broken into the New York rankings as well… Continue Reading

Jennifer Porter Discusses “Game Changer” of Her Career

Posted in Transactional Real Estate & Leasing
Gibbons Real Property & Environmental Director Jennifer M. Porter was recently featured in New York Real Estate Journal's "Women in Real Estate" spotlight section. This spotlight discusses different aspects of Ms. Porter's career and her most daring career move, joining Gibbons for an opportunity to devote her practice entirely to real estate development in the tri-state area. She also discusses which project was a "game changer" in the advancement of her career… Continue Reading

Gibbons Real Property & Environmental Lawyers Listed as Leaders in Their Fields

Posted in Construction, Development/Redevelopment, Transactional Real Estate & Leasing
Thirteen lawyers in the Gibbons Real Property & Environmental Department were listed by New Jersey Super Lawyers and New Jersey Super Lawyers Rising Stars as leaders in their fields for 2013. In addition, Department associate Uzoamaka N. Okoye was featured in a Rising Stars spotlight, in which she discusses her background and her reasons for becoming a lawyer. Overall, 80 lawyers in the firm were featured in these two publications… Continue Reading

From Ink to Occupancy – Part Two: Properly Identifying the Property in the Contract: Are You Sure You Know What You’re Getting?

Posted in Transactional Real Estate & Leasing
As the second installment in the series, "From Ink to Occupancy, A Game Plan for a Successful Real Estate Project," presented at the Gibbons Women's Initiative Seminar Series held last month, this blog addresses the basic question - what are you buying? Most purchasers (and sellers) of commercial property will tell you they know exactly what they are buying (or selling): the land and the building. But are they right… Continue Reading

“From Ink to Occupancy” Real Estate Program at Gibbons P.C. Armed Attendees with Fundamentals & Information on the Latest Trends

Posted in Development/Redevelopment, Transactional Real Estate & Leasing
"From Ink to Occupancy, A Game Plan for a Successful Real Estate Project," the latest installation of the Gibbons Women's Initiative Seminar Series, was held earlier last week and attracted a great crowd, including real estate professionals and in-house counsel. Nancy A. Lottinville, Jennifer M. Porter and Ivette P. Alvarado guided attendees through the nuts and bolts of a commercial real estate contract, due diligence and the land use approvals process, with a focus on New Jersey and New York. A portion of the program was also dedicated to the current "Hot Topics" of real estate in New Jersey and New York, including FEMA's Advisory Base Flood Elevations and cross-access easement issues. Thanks to various requests from attendees for more information, the RPE Law Alert will be posting blogs over the course of the next few weeks expanding on the topics covered during the program. Watch for the next installation: "Properly Identifying the Property in the Contract: Are You Sure You Know What You're Getting?"… Continue Reading

Ivette Alvarado Named Director in the Gibbons Real Property & Environmental Department

Posted in Transactional Real Estate & Leasing
The Gibbons Real Property & Environmental Department is pleased to announce that Ivette P. Alvarado has been named a firm Director. Ms. Alvarado focuses her practice on commercial leasing, acquisitions, dispositions, and real estate finance. She has extensive experience negotiating and drafting office, retail, and commercial building and ground leases and subleases throughout the United States. She conducts extensive due diligence investigations for multiple-property leasehold and fee title acquisitions and counsels clients in connection with contract and lease compliance issues related to land use, zoning, and other governmental permits and approvals. Ms. Alvarado attended Rutgers University - Rutgers College (B.A., Journalism and Communications, 1996) and Rutgers University School of Law - Newark (J.D., 2002). She is admitted to practice in New Jersey and New York… Continue Reading

Bulking Up on Information About the NJ Bulk Sales Act

Posted in Transactional Real Estate & Leasing
Buyers, sellers and their attorneys are faced with some tough issues when applying the New Jersey bulk sales law to particular real estate transactions, such as short sales, transfers by deeds in lieu of foreclosure, auction sales, sign and close deals and real estate joint ventures. Given the frequency of such real estate transactions in the current market, knowing how best to comply with the New Jersey bulk sales law with respect to these transactions can be critical to closing these deals… Continue Reading

Department Co-Chair, Russell Bershad, to Speak at the 11th Annual RealShare New Jersey Conference

Posted in Transactional Real Estate & Leasing
Russell Bershad, Co-Chair of the Gibbons Real Property & Environmental Department, will be a featured panelist at the 11th Annual RealShare New Jersey Conference taking place on Wednesday, September 19, in New Brunswick, NJ. This year's RealShare New Jersey Conference brings together industry leaders who will provide insight into the latest trends within the commercial real estate market… Continue Reading

Gibbons to Exhibit at ICSC Pennsylvania/New Jersey/Delaware National Conference & Deal Making

Posted in Development/Redevelopment, Environmental & Green Issues, Transactional Real Estate & Leasing
The Gibbons Real Property & Environmental Department will once again exhibit at the International Council of Shopping Centers (ICSC) National Conference & Deal Making Idea Exchange, this year located at the Atlantic City Convention Center in Atlantic City, NJ on September 11 & 12. The Conference provides an opportunity for real estate professionals to network and focus on getting deals done… Continue Reading

Gibbons Real Property & Environmental Practices Highlighted by Chambers USA

Posted in Development/Redevelopment, Environmental & Green Issues, Transactional Real Estate & Leasing
The Gibbons Real Property & Environmental Department, and four of its attorneys, were among the 10 Gibbons practice areas and 20 individual attorneys ranked in the 2012 edition of the Chambers USA Guide to America's Leading Lawyers for Business. Chambers annually rates the nation's leading business lawyers and law firms through comprehensive interviews with top companies, attorneys, and business executives, plus extensive supplementary research… Continue Reading

Residential Property Tax Relief Could Be On Its Way to Philadelphia

Posted in Tax Abatement, Transactional Real Estate & Leasing
All in favor of residential property tax relief, raise your hand! And, if you own an eligible home in the City of Philadelphia, apply now. The City is offering its residential homeowners the opportunity to apply for a Homestead Exemption. The Homestead Exemption would reduce the assessed value of an eligible home by $15,000 or more, and consequently lower the real estate taxes owed by the homeowner because the homeowner would pay real estate tax only on the reduced assessment… Continue Reading

Chapter 91 – Failure to Comply Still Absolute Bar to Tax Appeal in N.J.

Posted in Transactional Real Estate & Leasing
In United Parcel Service v. Secaucus, UPS failed to properly respond to a request for information as to income and expenses made by the tax assessor pursuant to N.J.S.A. 54:4-34, universally known as a "Chapter 91 request." Later, when UPS brought an action in the Tax Court to challenge its 2011 assessment, the assessor moved to have the action dismissed due to UPS's failure to properly respond to the Chapter 91 request. This is what a tax assessor typically does in these circumstances because the statute is clear that the failure of the owner to respond to a Chapter 91 request within 45 days is an absolute bar to the right to bring an appeal of the assessment… Continue Reading

Gibbons Real Property & Environmental Lawyers Listed as Leaders in Their Fields

Posted in Development/Redevelopment, Environmental & Green Issues, Transactional Real Estate & Leasing
Twelve lawyers in the Gibbons Real Property & Environmental Department were listed by New Jersey Super Lawyers and New Jersey Super Lawyers Rising Stars as leaders in their fields. In addition, Russell B. Bershad, Co-Chair of the Gibbons Real Property & Environmental Department, was listed as a top 100 attorney in New Jersey. Overall, 69 lawyers in the firm were featured in these two publications… Continue Reading

NJ Bulk Sales Notification Requirements

Posted in Transactional Real Estate & Leasing
Russell B. Bershad, Co-Chair of the Gibbons Real Property & Environmental Department and Peter J. Ulrich, a Director in the Gibbons Corporate Department, recently co-authored an article published in the New Jersey Law Journal entitled, "N.J. Bulk Sales Notification Requirements: Recent Changes and Guidance." The article describes key issues of concern with applicability of the law which was broadened significantly in 2007 and then scaled back last fall… Continue Reading

The Extension of the Permit Extension Act is on the Move, To Be Reviewed Today By Assembly Appropriations Committee

Posted in Development/Redevelopment, Environmental & Green Issues, Transactional Real Estate & Leasing
About two months ago, several NJ Legislators, including State Senator Paul Sarlo (Bergen/Passaic) and Assemblyman Ronald Dancer, proposed bills that would amend the 2008 "Permit Extension Act." Designed to give developers breathing room in the sluggish economy by extending the validity of development approvals, Proposed Bill S743 (the "Bill" or "S743") is gaining traction and is moving through the necessary legislative committees. On March 5, 2012, S743 passed by a vote of 4-0 by the Senate Budget and Appropriations Committee. The Bill is scheduled to go before the Assembly Appropriations Committee on March 12, … Continue Reading

The Time for Electronic Recording is Now: New Jersey Passes New Law Updating Title Recordation Procedures

Posted in Transactional Real Estate & Leasing
In our electronic age, New Jersey's antiquated laws governing document recordation were in serious need of some updates. A new law was recently passed modernizing the New Jersey Statutes by requiring the acceptance of electronic alternatives to paper documents, in addition to paper documents. In addition, provisions of the statute, disbursed over various sections that logically belonged together, have been compiled in a more concise and coherent fashion, and antiquated language and procedures have been removed. The revisions clearly result in a much more reader- friendly version of the law relating to title recordation in New Jersey. Assembly Bill A-2565 P.L.2011, c.217 revising the New Jersey statutes pertaining to the recording of title documents was signed into law by Governor Christie on January 17, 2012. The New Jersey Law Revision Commission (NJLRC) approved this revision project following the enactment of the federal Electronic Signatures in Global and National Commerce Act (E-sign), and New Jersey's enactment of the Uniform Electronic Transactions Act (UETA). The legislative statements (Statements) issued by the Senate Community and Urban Affairs Committee (Senate) and Housing and Local Government Committee (Assembly) related to A-2565 note that "while the use of electronic deeds and mortgages is not expected to occur in the near term, both E-sign and UETA encourage the development of systems that will accept electronic documents without disrupting the ongoing process of title recordation."… Continue Reading
Lexblog