Neil Siskind is the Founder & Chairman of The Fatherhood Assignment
Learn more at: http://www.neil-siskind-the-fatherhood-assignment.org/
REAL ESTATE LAW
Purchases and sales of:
Single family homes
Retail strip centers
Free standing retail buildings
Office co-op units
Residential Real Estate
NEIL SISKIND has many years of experience and has handled hundreds of residential real estate purchases and sales for clients. Such transactions have included purchases and sales of condominium units, co-op units, single family and two-family houses. Each type of transaction has its own nuances and needs. For example, condominium documents are filed with the State and have to be reviewed so that a buyer knows what he or she is getting and the rules and laws that govern ownership. A co-op is slightly different from purchasing real estate, and the co-op corporation’s rules and practices need to be thoroughly comprehended. Co-op board minutes require review by a purchaser’s counsel to ensure that the building is in solid structural and financial condition. A single-family or two-family house comes with title, survey and physicality issues, such as roof and foundations condition, which need to be reviewed by a buyer and his or her agents and lawyers.
An inspection by a qualified home inspector should uncover issues that the naked eye can not see such as electrical, plumbing and termite problems. Every contract should provide a buyer with a proper inspection period. A seller may be advised to have their own inspection done before marketing the property so that he or she knows the issues and does not lose time by being surprised by unknown issues with the home. In any transaction, a seller will be required to deliver marketable title and remove any unacceptable liens. A lien search early on in a transaction will ensure that a seller is not surprised by an outstanding mortgage or UCC lien. Clearing up such issues early-on, benefit both sides to a transaction. Neil Siskind is an attorney who knows the important issues that buyers and sellers face in residential transactions.
Commercial Real Estate
Commercial real estate purchases and sales can be very different than residential transactions. In commercial transactions, there are often zoning and tenancy issues that need to be reviewed. Since most (though not all) commercial transactions involve the purchase of an entire free-standing office or retail building (as opposed to an apartment, where you are purchasing a unit in a building), accurate surveys and professional and thorough inspections are vital. If there are tenants in the building, then leases need to be carefully reviewed. In some cases, a commercial transaction can be relatively simple, such as where the purchase or sale is of a commercial office condo or a free-standing building that the buyer intends to use only for his own business and intends to have no tenants. In commercial transactions, issues such as mortgage assignments and partnerships terms become more important as more money and complexity is involved in the transaction.
Office and Retail Leasing
Commercial leases for a tenant can be very complex or very simple, depending on the intended use. A business needs to be sure that it can use the space as intended for its business operations. Moreover, a business needs to have flexibility to end or extend its lease to accommodate the status of the business and the economy. The lease provisions will depend on whether a lease is for an office in a building or a retail space in a shopping center. Terms governing electrical capacity, personal liability, signage, subleasing, improvements and work allowances all must be examined closely based on the client’s needs or potential needs. Exit strategies for a tenant should always be considered and the penalties minimized where possible. Each transaction and property type provide their own special requirements. Neil Siskind can help tenants with all of their office and retail leasing needs.
Neil Siskind has handled purchases, sales, leasings, financings, title and partnership matters for individuals and businesses in real estate transactions over his nearly 20 year career as a business and real estate attorney. Call Neil Siskind today to get an honest review of your situation and opportunity. Neils comments may provide you with insight to your transaction which you have not considered.
To “Loan” is Not to”Own”
By: Neil Siskind
The Siskind Law Firm
Neil S. Siskind, Esq. Owner
Neil Siskind, Founder & Chairman, The Fatherhood Assignment:
New York, NY 10018
Image of The Hudson River and The Bear Mountain Bridge photographed from the bluffs of The Neil S. Siskind Nature Preserve, Hudson Valley, New York © 2015 Neil S. Siskind