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      Jack Fersko
Co-Chair, Real Estate Department
OUR CLIENTS
Sean R. McGowan
Co-Chair, Real Estate Department
Robert S. Goldsmith
Co-Chair, Redevelopment & Land Use Department
Steven G. Mlenak
Co-Chair, Redevelopment & Land Use Department
75 Livingston Avenue Roseland, NJ 07068
AT A GLANCE
YEAR FOUNDED: 1914
NUMBER OF REAL ESTATE ATTORNEYS: 23
AREAS OF EXPERTISE IN REAL ESTATE: Acquisitions, Sales, Leasing; Environmental; Financing, Incentives; Redevelopment; Land Use, Zoning; Planned Real Estate, Community Associations; Public-Private Partnerships; Downtown Revitalization; Transit-Oriented Projects; Energy Efficiency Initiatives; Commercial Property Tax Appeals; Construction Contracting; Real Estate Litigation
the firm working to open all types of cannabis facilities, with our team well positioned to meet the needs of this growing and often entrepreneurial industry sector.
PROJECT SPOTLIGHT
As redevelopment counsel to the Town of Westfield, we are representing the Town on the redevelopment of the former Lord & Taylor property and other municipal lots comprising over $400M in investment and $54M in public improvements with a subsidiary of Hudson’s Bay Company, providing counsel on various agreements including a conditional designation agreement, a redevelopment agreement, a separate redevelopment agreement for a “preview center,” and a public improvements construction agreement. We worked with municipal bond counsel
on a public improvements financing agreement and financial agreements and special assessment agreements for each of eight components of the project. Additionally, we negotiated with Elite Properties concerning the redevelopment of five lots which will provide 193 residential units, 17,000 SF of retail, parking and significant civic infrastructure improvements. We also negotiated a redevelopment agreement with 610 North LLC concerning the Handler Building project, which will adaptively reuse an existing building as an indoor vertical farm with restaurant, teaching kitchen and retail space. Finally, we negotiated a redevelopment agreement with Prospect Ferris Development LLC for a project including the relocation and preservation of an 18th century historic home to make way for 60 residential units and 1,000 square feet of retail space.
 We represent local, regional and national clients active
in the New Jersey market, including developers, REITs, private equity investors, property owners, lenders and governmental entities. We provide strategic counseling and litigation support related to the acquisition, development, financing, leasing, construction, operation and disposition of multifamily, mixed-use, commercial and industrial real estate.
ON THE HORIZON
There is good reason to have confidence in continued growth in real estate and redevelopment for most property sectors from our perspective. Market demand for industrial properties is strong, and while increased interest rates have caused compression in pricing, supply remains low and rents steady. Demand for strategic mixed-use projects is
also strong, as is the development of residential projects
in municipalities thinking ahead to the coming fourth round of affordable housing compliance. New construction is challenged by rising interest rates, continued material shortages and labor challenges — we are regularly called upon to assist clients in strategically leveraging incentive programs to facilitate transactions and project economics in the face of these impacts. On the renewable energy front, we are increasingly active as property owners and solar providers take advantage of federal and state incentives to facilitate New Jersey’s push toward ever-increasing usage of alternative energy. Finally, while the recreational cannabis market has experienced a slow start, we expect the next year to see a more robust market, as evidenced by new clients of
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