One Jefferson Road
Parsippany, NJ 07054
AT A GLANCE
Year founded: 2006
Number of attorneys: 275
Number of attorneys involved in commercial real estate in New Jersey: 35
Areas of expertise in real estate: Commercial Real Estate and Development Transactions, Environmental, Land Use, Real Estate Redevelopment, Construction, Real Estate Litigation, Bankruptcy and Restructuring
Day Pitney’s real estate group represents a wide variety of real estate clients, given its breadth and experience in real estate. Those clients include local and national developers, private and public institutional real estate investors, Fortune 500 companies on their corporate real estate, national commercial chains and market, inclusionary and affordable apartment developers. This wide array of clients is not only due to Day Pitney’s breadth of real estate expertise, but also because Day Pitney’s attorneys are thought leaders in real estate, given their involvement in trade associations and leadership in State and local bar associations.
The Day Pitney advantage is allowing clients to draw on Day Pitney’s real estate attorneys’ experience, network and skills on all aspects of real estate. Whether it is guiding corporate clients on redevelopment or repurposing their real estate footprint, structuring a complicated real estate transaction, negotiating inclusion in a town’s affordable housing plan or confronting an organized local opposition to a project, Day Pitney attorneys bring a “value-add” to all of their real estate matters. That is why Day Pitney attorneys handle real estate matters across the entire state of New Jersey, as opposed to a localized region, and why Day Pitney is entrusted to guide matters from letter of intent to ribbon-cutting.
As noted above, one of the advantages of Day Pitney is the breadth of skill and experience in real estate, which allows for efficiencies in one firm handling the majority of the legal work, as opposed to multiple law firms handling different aspects, creating cost efficiencies for the client.
One example of that is a recent matter Day Pitney handled for a national apartment developer client. The project involved the rezoning of vacant land, previously zoned for office, to allow for a multifamily residential development that would be part of a town’s affordable housing plan. Day Pitney represented the client in (1) securing site control with the purchase agreement, (2) negotiating rezoning for an inclusionary residential development with an affordable housing component, which included a PILOT, (3) obtaining development approvals, (4) negotiating a partial assignment of the townhouse portion of the project to a national developer, which included cost sharing and reciprocal easement agreements and (5) closing on the sale, partial assignment and construction financing.
The transaction called on many disciplines, including real estate transaction, land use, affordable housing and financing. And the client benefited from the efficiencies in having one firm handle all those aspects.