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Lawyer For Land Lease Purchase?

Started by UE98
over 10 years ago
Posts: 100
Member since: Jan 2013
Discussion about
Hello, I was wondering if anyone could recommend a good lawyer familiar with land lease transactions on the buy side for a 1BR co-op in Manhattan. I know that this can be a potentially hazardous situation, and there are many things to be weighed. That's why I was hoping to find an attorney who knows the ins and outs of a specific land lease, and can work out with me how potentially viable this purchase might be. Any recommendations (or advice) appreciated.
Response by snezanc
over 10 years ago
Posts: 121
Member since: Oct 2007

I'd go with Jerry Feeney.
http://jerryfeeney.com/

He did a great presentation at Elliman headquarters on a related topic.

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Response by UE98
over 10 years ago
Posts: 100
Member since: Jan 2013

Thanks, snezanc. Although that person got a pretty terrible review online. I will look into it. :)

Any other suggestions?

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Response by Flutistic
over 10 years ago
Posts: 516
Member since: Apr 2007

How about just start walking, away, fast?

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Response by Flutistic
over 10 years ago
Posts: 516
Member since: Apr 2007

If you're wealthy enough then the risk associated with land leases might be OK. If you're wealthy, you maybe just want to assess the potential losses in advance.

But what happened in 2010 in Battery Park City is sobering , Imagine if you HAD to sell at that time (life throws curve balls):

http://www.crainsnewyork.com/article/20100325/REAL_ESTATE/100329885/fannie-mae-crimps-battery-park-apartment-sales

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