The Pierro Law Group PLLC
The Pierro Law Group PLLC
  • 950 Third Avenue
    32nd Floor
    New York 10022
  • Hire Us Today!

    (212) 847-4948

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Welcome To The Pierro Law Group PLLC

Real Estate seems relatively simple. Property and land are solid and tangible, unlike more ephemeral assets like investments and stocks. Besides, real estate deals in part with one of our most basic common needs: a place to live. In one way or another, whether as a consumer, renter, buyer, seller or investor, everyone interacts with real estate at some point in their lives.

However, though real estate deals with a basic and understandable concept, actual real estate deals can be very complicated. Real estate exists at the crossroads of numerous industries with numerous moving parts, which one often needs a real estate attorney to handle properly. This is why the vast majority of real estate transactions in New York happen with an attorney on both sides.

What Can A Residential Real Estate Attorney Do For Me?

Residential real estate attorneys draw from numerous areas of law to helpfully represent your interests in any residential real estate transaction. You will need a real estate attorney for any major residential real estate deal (buying, selling, or investing) in New York. Among many services they offer, a few examples are:

  • Preparing and Reviewing Contracts: If you are buying or selling a property, a real estate attorney will be responsible for preparing the contract of sale. This is the central document of the transaction, and solidifies any negotiations and terms that have been made between parties. It is essential to have an attorney who knows how to properly state and ensure the terms as stated.
  • Handling Loan and Title Commitments: Loan commitments are the promises you make to the institution that is issuing your loan (if applicable).
  • Attending the Closing and Handling Closing Documents and Calculations: New York State requires real estate attorneys to be present at any closing. In addition, a real estate attorney is usually responsible for preparing and handling the proper signature of closing documents (including the transfer tax returns, and the deed). If these proceedings are not handled properly, the entire deal can fall apart. This is one of the most essential roles a residential real estate attorney can play. They also ensure that there are no last-minute changes a layman might not notice at first sight. Finally, an attorney calculates costs at the end of the closing. If you have a mortgage, this can include a residential real estate attorney preparing a payoff letter, which determines the amount that needs to be paid back to the lender, as well as all funds owed to all parties.

What Can A Commercial Real Estate Attorney Do For Me?

In addition to all of the services mentioned for residential real estate attorneys, commercial real estate attorneys can:

  • Facilitate Commercial Purchase and Sale: Commercial real estate purchase and sale deals require a good deal more steps and processes than residential real estate deals. A commercial real estate attorney is also much more involved in the negotiation portion of the deal, working closely with clients and other parties to create a deal structure that works for everyone.
  • Negotiate Joint and Shared Ownership: In joint venture or joint ownership agreements, (i.e. ownership held in an LLC or corporation) all sides having competent legal counsel is absolutely necessary. Commercial real estate attorneys play the crucial role of avoiding disputes (and addressing them if/when they come up), and of providing a clear path forward if liquidation or transfer to one holder ever becomes necessary.
  • Prepare and Review Leases and Sub-Leases: Commercial leases can also be very different from residential leases. They require additional terms and contracts which a commercial real estate attorney can craft for you according to agreements made by the parties. In many cases, commercial real estate properties have many different tenants, each of which require an individual lease. Appropriately experienced real estate attorneys can put together these leases in a way that does not create conflict or legal issues.
  • Handle Commercial Financing: Commercial financing may come from traditional or non-traditional means, and there are a much wider variety of financing products available to commercial clients than residential clients. A commercial real estate attorney with strong financial literacy is essential for obtaining financing under fair and agreeable terms.
  • Handle Construction Contracts: Commercial real estate attorneys can help you create a legal framework for all construction and improvements required or desired on a commercial property. This can be either small- or large-scale construction: either way, a competent commercial real estate attorney will be able to draw up a contract specific to your terms and needs. They will also be familiar enough with the architecture and construction fields to be able to tell if terms offered by construction, architecture, and building firms are fair and reasonable.
  • Review Tax Issues and Conduct Specialized Inspections: Since both the tax codes and building codes on commercial real estate are far more complex than those on residential real estate, an experienced commercial real estate attorney is needed to look over both the tax framework and the physical premises, in order to avoid falling into any potential tax or inspection traps.

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