Phillips Nizer represented an affiliate of its legacy client BRM Development in the acquisition of the Hannaford Plaza shopping center located in East Greenbush, New York, in a tax-favorable transaction, for a purchase price in excess of $17 million, with financing provided through UBS AG New York Branch.

Phillips Nizer partners Christopher Aldridge and Marc Landis represented Seabury Capital in negotiating a lease on the 53^rd Floor of Carnegie Tower, at 152 West 57^th Street.  To read the Commercial Observer’s coverage of the lease signing, click here.

Good News for Co-op Boards and Managing Agents for the New Year: Changes to Housing Stability and Tenant Protection Act Benefit Co-op Corporations.  On December 22, 2021, Governor Hochul signed legislation exempting co-ops from many of the onerous restrictions in the Housing Stability and Tenant Protection Act of 2019. These revisions will allow boards and their agents to represent the shareholders’ interests more effectively in operating their buildings.  

Four partners and an associate join top NY Real Estate practice