AT A GLANCE
125 Half Mile Road
Suite 300
Red Bank, NJ 07701
Year founded: 1959
Number of real estate attorneys: 20+
Areas of expertise in real estate: Redevelopment; land use; real estate transactions and financings; long- and short-term tax exemptions and abatements; planned real estate development; creation of condominiums; PUD governing documents; and registration of offering plans.
OUR ADVANTAGE
We’re recognized as leaders in the field of Real Estate because of our comprehensive understanding of all aspects of real estate law. Along with this one-stop approach, our clients appreciate our “midsized firm” cost-effective rates. The ability to obtain all their real estate needs at one firm, combined with our cost-effective approach, provides our clients with a market advantage. We’ve handled it all — sophisticated acquisitions, financing, redevelopment, development, entitlements, bonds, long-term tax exemptions, environmental issues, condo/planned community creation, offering plans, land use issues, closings and litigation. The key to our success, and that of our clients, is that we know how to address each individual component of a real estate transaction, while at the same time understanding the legal and practical impacts on the overall transaction.
Our broad expert knowledge in real estate law allows us the advantage of understanding the big picture as each individual component is negotiated. We can expertly complete any facet of the project; it’s our niche and what we are known for. Because of that, we have represented top national as well as regional and local developers for decades.
ON THE HORIZON
Demand for housing and urban revitalization remains robust, and land acquisition is in full tilt. We expect this to remain the case for a while. Another trend we are noticing is that as some commercial banks have remained on the sidelines in the economic environment, sophisticated real estate lending companies are aggressively stepping in. Often these financings are tiered with these companies funding with an equity piece together with more traditional mortgage financing. Many of these companies are ultra protective in their documentation thus requiring skilled counsel to protect borrowers. But overall, the funding is available, especially for high-profile properties that under the current economic conditions would have a tough time refinancing with bank sources. We help guide clients through this phase, among so many others.
PROJECT SPOTLIGHT
We are currently working on The Lido, a transformative, eight-story, luxury residential and retail project right across from the historic Asbury Park boardwalk.
The brainchild of Inspired by Somerset Development, it calls for over 100 high-end, residential condominium units, mixed-use possibilities along the ground floor, a host of amenities, including an upscale fitness center and an open-air swimming area. The project will feature water views, a beach-club lifestyle and wraparound balconies in a culturally hip area appealing to residents and visitors.
The plan, by the developer of Bell Works in Holmdel, skillfully preserves and integrates the iconic Wonder Bar, which sits on the same block.
The Lido is a multilayered complex transaction that benefits from Giordano, Halleran & Ciesla’s sophisticated experience. Our guidance on the project includes condominium creation, redevelopment work, sophisticated financing and entitlement advice, including public bonding and a long-term tax exemption.
Construction is expected to begin shortly and take approximately 24 months. We are proud to apply our vast knowledge to, and be part of, the extraordinary development vision of our client on this community revitalization project.
