How a Lawyer Can Help with Your Commercial Property Development
At Romano & Kuan, we are unabashedly unashamed of protecting your best interests. Commercial property development transactions are no different. As NYC commercial real estate attorneys, we know every detail of a contract, leasing agreement, building plan, or closing document matter.
When working with a commercial development transaction, you should choose commercial real estate lawyers NYC that are knowledgeable and honest about your real estate situation.
Here are a few ways an excellent commercial real estate lawyer can help you.
Real Estate Financing
Your financing documents should cover topics like who or what will raise capital for the purchase, all sources of the money, and which parties are responsible for how and by when. There should be clauses included that offer you protection if any of these sources back out of the deal. Mortgage documentation should be clear so you understand all the terms you’re agreeing to and negotiate verbiage that keeps you safer if your situation or income changes in the future.
Commercial property development transactions involve a lot of space, insurance considerations, liability questions, term limits, and steps needed to conform to local zoning laws. You’ll want to make sure these negotiations include ordinary and reasonable expectations from all parties, benchmarks for inspections, vacating terms, as well as listing out all contractors to be used in renovations, and more. Experienced commercial real estate attorneys work to help you avoid shady and unreasonable terms sometimes offered by a given party.
We know you’re eager to get started on your latest building plans, but it’s essential to make sure your bases are covered. Construction contracts should cover all aspects of the project from the contractors and subcontractors slated for the project, phases, and benchmarks of development; conditions placed upon passed and or failed inspections, financing, and more. You don’t want to be left holding the bag if a contractor fails in their duty or be left with negative liability later for things out of your control.
As commercial real estate lawyers in NYC, we know what it takes to help you negotiate and secure your newest commercial developments in a professional and trustworthy manner.