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).
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By Adam Leitman Bailey While sponsors of new construction condominiums have extensive obligations regarding the physical construction of their projects, Sponsors of condominium conversions really only have one material obligation (other than actually converting the form of ownership) — to provide sufficient funds to create reserves for capital repairs, improvements, and replacements required for the Full Article…
By Adam Leitman Bailey and Colin E. Kaufman The Appellate Division decision titled Fletcher v. The Dakota Inc. held that the business judgment ruled does not protect individual condominium and cooperative board members from some personal tort liability. This alarming result has caused real estate and insurance attorneys to review directors and officers policies and the law to try Full Article…
By Adam Leitman Bailey and John M. Desiderio During the last five years, the pendulum of commercial leasing has begun to swing. At common law, the doctrine of “caveat emptor” governed commercial leasing. By the 1970’s, New York courts, relying on equitable principles, began to carve out exceptions to caveat emptor. 1 Equity gained greater Full Article…
By Adam Leitman Bailey and John M. Desiderio New York Law Journal | October 10, 2012 Recently, the Appellate Division First Department, in Fletcher v. Dakota, Inc.,1 held that the business judgment rule does not protect individual condo and co-op board members from personal tort liability where a board acting in its corporate capacity has Full Article…
By Adam Leitman Bailey and Dov Treiman In what is commonly known as an HP action, tenants can bring a court proceeding against a building owner asking the court to order the owner to make necessary repairs and correct code violations. However, in some circumstances, forcing an owner to make the ordered repairs could cause Full Article…
By Adam Leitman Bailey and Jessica D. Scherer As a result of the Statute of Fraud’s brokerage commission exception, real estate owners should not engage or utilize the services of a real estate broker or enter into any transaction involving a real estate agent without a written agreement declaring that a commission shall only be Full Article…
By Adam Leitman Bailey and Dov Treiman After extensive study, the federal Department of Housing and Urban Development has issued new rules under the Real Estate Settlement Procedures Act (RESPA), 12 U.S.C 2601-2617, of 1996. The regulations represent a victory for borrowers since they will impose on lenders and their allies more pricing and product Full Article…
January 1st, 2013 We reviewed every Appellate Division case in the first eleven months of 2012. In raw count, the lenders beat the borrowers by a rough margin of 2:1, but that number does not necessarily reflect a swing in sensitivities. The appellate division decisions in 2012 showed strict application of the laws and notable Full Article…
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