Real Estate
Condominiums/Home Owners Associations/Co-Ops
Community Association Representation
Phillips Lytle represents developers, homeowners, condominium associations and co-ops in a variety of projects, including matters relating to residential and commercial properties, office buildings, medical facilities, marinas, campgrounds, timeshares and planned unit developments.
Condominium Development
Phillips Lytle has a comprehensive Real Estate Practice that includes condominium development as a key focus area. Our experienced attorneys represent developers and investors and handle all phases of condominium formation, including statutory compliance with registration, title and recording requirements, preparation of offering plans, and other work required to create and market a condominium.
We provide counsel to more than 350 condominium and homeowners’ associations. Our attorneys keep abreast of the latest developments and trends in community association law, are members of the Community Associations Institute (CAI), and offer clients the most up-to-date information on current practices and requirements needed for this increasingly complex field of law.
Our attorneys have successfully prepared hundreds of Offering Plans for filing with the New York State Department of Law. Due to our reputation for quality work, our Offering Plans are accepted for filing with the New York State Department of Law in record time.
Examples of our representative transactions:
- Represented a developer in the conversion of a part-commercial and part-residential condominium on the upper west side of Manhattan, with an aggregate sales price of approximately $25,000,000.
- Represented an investor in the purchase of a 50 percent interest in a condominium development requiring the purchase of land and air rights from a church and certain variances from the City of New York, with a total project budget in excess of $75,000,000.
- Represented an architect/developer and equity investor in connection with the acquisition, financing and residential condominium conversion of five historic properties in Tribeca.
- Represented two national developers in connection with a major university development project built upon a ground lease. Our work included drafting the garage condominium declaration and bylaws and advising on requirements for site plan and floor plans to be publicly filed, as well as protocols to establish the condominium form of ownership, governance and use of the parking garage by the unit owners.
- Represented a developer in seeking site plan approval and special use permit for condominium development and defended site plan approval and special use permit from legal challenge brought by the owner of the neighboring parcel. We efficiently and successfully settled the matter prior to completing litigation. Additionally, we completed the condominium Offering Plan and assisted in completing appropriate filings for this developer.
- Represented a 150-unit homeowners’ association in converting a project’s form of ownership from homeowners’ association to condominium.
- Represented a public benefit corporation in a public/private partnership transaction involving the construction and financing of a mixed-use, commercial and residential condominium development.
- Represented a major university in creating a two-unit condominium within a six-story parking garage.
- Represented a lender in the restructuring of six related credit facilities – three Connecticut land developments and three New York City condominium conversions – consisting of an aggregate loan facility of approximately $20,000,000, including issues relating to cross-collateralization, preferences and settlement of federal, state and local tax claims.
- Represented a lender in connection with the financing of the fee and leasehold interests of a sponsor in a luxury condominium property on the upper east side of Manhattan in the amount of $60,000,000.
