New York Law Journal By: Adam Leitman Bailey and Dov Treiman April 8th, 2015 One developer-client once told us, “horse racing is not the sport of kings—litigation is.” During the greatest high end real estate market in the history of our country, the ultra wealthy or the corporate kings have battled in our courts for Full Article…
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About Adam Leitman Bailey
Actively at the helm of the law firm he built from scratch, Adam Leitman Bailey, Esq. practices residential and commercial real estate law. Among New York’s most successful and prominent real estate attorneys, Mr. Bailey is one of two attorneys from a law firm with less than 30 attorneys that has been ranked in Chambers & Partners, honored with a Martindale-Hubbell “AV” Preeminent rating, rated by Best Lawyers for himself and his law firm, and selected by Super Lawyers as one of New York’s “Top 100” attorneys, a list that included only five real estate law firms’ attorneys that year.
One New York State Judge wrote that Adam Leitman Bailey “was the best trial lawyer I saw in my nine years as a Judge in New York City” while another stated that he had known Bailey for fifteen years and “that he is a brilliant lawyer and innovative who always worked zealously on behalf of his clients.” The Commercial Observer named him as one of New York’s Most Powerful Real Estate Attorneys. Real Estate Weekly recognized him as “one of the most respected commercial real estate attorneys in not only New York City, but arguably the country.”
The New York Times referred to his legal strategy and legislation proposed in one case as “novel,” in addition to remarking on another case in which “Adam Leitman Bailey fought on…grinding through excruciating detail and obscure Perry Mason moments.” After Mr. Bailey’s firm used a forgotten statute to prevail in a landmark case, the Wall Street Journal quoted a prominent New York developer’s attorney who called the holding a “game changer” affecting real estate nationwide. Dateline NBC referred to Mr. Bailey as “aggressive, tenacious and smart” in asking him to share his negotiating secrets on its nationally syndicated television program. Mr. Bailey’s advocacy has prevailed in numerous important trials and cases before various courts and trial venues, including Housing, Civil, and New York State Supreme and Federal Courts, as well as various New York Appellate tribunals.
Adam Leitman Bailey has successfully defended a number of leading title companies and lenders in the nation and prevailed in numerous trials and settlements involving commercial and residential building owners, tenants, real estate developers, real estate brokerages, insurance companies and cooperative and condominium boards. In addition, Mr. Bailey has favorably represented a number of tenant and homeowner associations as well as commercial and residential tenants, garnering millions of dollars in compensation and rent abatements for these associations and individuals. For clients facing landlords who leave buildings in disrepair, Mr. Bailey has an unusually successful track record of getting those residential towers, apartments, and stores repaired and all services restored.
Adam Leitman Bailey has also applied his expertise in closing various real estate deals and commercial leases. He has been named to the Board of Editors for Commercial Leasing Law & Strategy and has a regular real estate column in the New York Law Journal. Bailey’s lease-drafting skills received national attention when BlumbergExcelsior, the nation’s leading form distributor, responsible for over 70 percent of the residential leases signed in the United States, tapped Bailey to draft a new set of residential and office leases for purchase nationwide. BlumbergExcelsior’s principal remarked that Bailey’s lease drafting skills were “remarkable.”
His success as cooperative and condominium general counsel earned Adam Leitman Bailey recognition in “Who’s Who in Real Estate” by Habitat Magazine. Mr. Bailey authored his first book, Finding the Uncommon Deal: A Top New York Lawyer Explains How to Buy a Home for the Lowest Possible Price (Wiley, 2011). This guide through the purchasing process for first-time home buyers became a New York Times bestseller and is available for purchase worldwide. Mr. Bailey has also been elected a Fellow of the American College of Real Estate Lawyers (ACREL), where he serves on the Insurance and Title Insurance committees, and is a former member of the American College of Mortgage Attorneys (ACMA).
Adam Leitman Bailey’s Personal Website
Adam Leitman Bailey, P.C. Youtube
A Lender’s Duty To Investigate Its Borrower
By: Adam Leitman Bailey & John M. Desiderio Adam Leitman Bailey is the founding partner of Adam Leitman Bailey, P.C., in New York, New York. John M. Desiderio is a partner in the New York, New York, office of Adam Leitman Bailey, P.C. ……………….. Until recently, a mortgage lender preparing to give a loan needed Full Article…
Fair-Market Tenants and Condominium Conversions
A recent newspaper article reports that between 2009 and 2012, a total of 117 rental buildings in Manhattan and Brooklyn were converted to cooperative or condominium ownership.1 Many of the units contained therein were deregulated. This article explores what rights tenants of these units have vis-à-vis rent-regulated tenants when a building is being converted, if and Full Article…
Finding Individual Liability for Sponsor’s Principals And Sponsor’s Waiver of The Notice Requirement Under The Offering Plan
Recently, in The Board of Managers of 266 West 115th Street Condominium v. 266 West 115thStreet, LLC, et al., 2014 NY Slip Op 33047 (Sup. Ct. 2014) – a precedent-setting decision on two separate issues – the New York State Supreme Court held that: (i) the principal of a Sponsor can be found to be personally Full Article…
Setting New Precedent, ALBPC Obtains A Victory for Condominium Board
In The Board of Managers of 266 West 115th Street Condominium v. 266 West 115th Street, LLC, et al., Index No. 159552/2014 [Sup Court, NY County 2013], a precedent-setting decision, Adam Leitman Bailey, P.C. obtained a victory that could benefit Condominiums throughout Manhattan. The following two critical issues were presented in this case: (i) whether Full Article…
Defining the Limits Of Liquidated Damages Clauses
By: Adam Leitman Bailey & Dov Treiman December 31st, 2014 Real estate leases are, by their nature, bets the parties are placing on what the future may hold. Both landlord interests and tenant interests try to hedge their bets by inserting clauses to produce certain results in the event of an uncertain future. Chief among Full Article…
Sprinkler System Leases the New Letter of the Law
By: Adam Leitman Bailey & Dov Treiman October 9th, 2014 A new sprinkler system law coming into effect December 3 could leave landlords guessing about their obligations. Effective December 3, 2014, all residential leases in New York State require a notice to the tenant about the presence or absence of sprinkler systems in the “leased Full Article…
Clarified Rules for Earning Brokerage Commissions
By: Adam Leitman Bailey & Jeffrey Metz October 8th, 2014 After years of uncertainty and fact-based decisions, the Appellate Division, First Department, in a thoughtful decision authored by Justice Rolando Acosta, clarified the guidelines for earning a real estate broker’s commission in Manhattan and the Bronx. This article devotes considerable time to Acosta’s decision and Full Article…
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