Genova Burns represents a broad range of participants with a diverse class of asset types in the real-estate industry from local, regional and national developers, commercial lenders and financial institutions to property owners, landlords, tenants and borrowers. The core of our client base includes multifamily and mixed-use property owners and developers, private equity investors and joint ventures, national as well as local retail businesses, and owners and operators of office, industrial and retail properties, all having or seeking to establish a presence in the local marketplace.
Genova Burns, home to one of the state’s most prominent real estate practices, is as busy and as integral to the industry as it was before the pandemic and before the Federal Reserve began to raise interest rates last year. Increasingly, though, the Newark-based firm is helping clients either play defense or guide them through this period of uncertainty.
The New Jersey Legislature is considering a bipartisan bill (S355/A3710) that establishes a restricted beer, wine and cider license that would allow restaurants, for a small annual fee, to sell certain alcoholic beverages to their patrons. In an effort to counteract the diminution in value of already-owned liquor licenses, the proposed bill provides tax credit under corporate business tax and gross income tax for loss in value to certain alcoholic beverage licenses. Despite this tax credit, there is sure to be a significant decrease in the value of already-owned liquor licenses. This loss in value is likely to in turn diminish the value of the properties underlying those licenses.
The real estate industry has become a growing target for cyberattacks. Real estate transactions require valuable and sensitive information, including personal and financial details for buyers, sellers and real estate organizations.
A developer has acquired nearly two acres in Jersey City with plans to build 670 luxury apartments on the property, in a recently completed deal by Grid Real Estate.
Every day brings news about the market growth of electric vehicles. But before the conversion to fully electric, self-driving vehicles comes to fruition, New Jersey must provide the infrastructure for this coming transportation revolution to thrive.
AT A GLANCE 494 Broad Street Newark, NJ 07102 www.genovaburns.com Year founded: 1989 Number of attorneys: 70 Number of attorneys involved in commercial real estate in New Jersey: 14 Areas of expertise in real estate: Commercial Real Estate and Redevelopment,…
Genova Burns LLC has announced the promotion of two attorneys, including a member of its commercial real estate team.
As far back as 1957, advertisements in the nation’s leading magazines promised that, “one day, your car may speed along an electric super-highway, its speed and steering automatically controlled by electronic devices embedded in the road.” In the 64 years since then, there has been tremendous technological progress that makes this vision on the brink of becoming reality.