Overview
Lee & Lum, LLP works closely with real estate investors and developers, contractors, engineers, and architects, to identify and resolve multifaceted challenges in developing residential and commercial properties. We understand the goals, legal and business needs of each project at every stage of the development, and thus, we can anticipate issues, overcome hurdles, minimize costs and risks, and expedite permits and approvals to close deals efficiently. Our clients rely on our creative and effective representation so that they can successfully complete their projects.
We have represented clients in acquiring sites for new developments, resolving environmental issues, guiding their due diligence process, negotiating and drafting complex construction contracts, obtaining access to neighboring premises to complete construction, construction financing, and condominium offering plans.
In addition, we negotiate and close all types of secured and unsecured real estate finance arrangements for debt and equity capital providers and users, and involving every class of property. With our deep understanding of the real estate market and its legal framework, we are able to close transactions of all sizes—including the largest and most complex—efficiently and quickly.
We regularly provide advice to borrowers and lenders on structuring and documenting financing that is secured by real property, including term loans, acquisition loans, bridge loans, construction loans, lines of credit, and syndicated and securitized loans. Drawing on the experience and market knowledge of real estate finance, tax, insolvency and insurance, we provide comprehensive service, advising on and negotiating high-valued transactions, mezzanine finance and preferred equity structures, construction loans, agency loans and distressed debt resolutions.
Our Approach
Our attorneys are also experienced in consulting clients with pre-construction negotiation, construction phases, due diligence, and mechanic’s liens. We recognize that deals may be unfairly broken, so in order to protect our clients, we approach every step with caution to avoid hurdles and mitigate the chances of loss in the event of litigation. Since our firm also represents clients in various construction-related disputes, we have the foresight to recognize potential contractual and regulatory issues that may be either advantageous or disadvantageous to our clients. As a result, we are able to leverage our experience in contract negotiations and litigation to strategically represent our clients in even the most adversarial negotiations and complex projects.
Our Expertise
Performing due diligence and closings for acquisition of commercial properties
Partnership and Business Structuring
Hotels, Resorts and Hospitality-Related Projects
Advise real estate developers on New York City Department of Buildings (DOB) and Building Code requirements
Advise landlords and real estate developers on regulatory compliance issues pertaining to requirements of Division of Housing and Community Renewal (DHCR), Housing Preservation and Development (HPD), Department of Homes and Community Renewal (HCR)
Negotiating and drafting construction contracts for complex development projects; design bid-build agreements; trade contracts; AIA agreements, stipulated sum, cost-plus, guaranteed maximum price (GMP) contracts
Financing for Lenders and for Borrowers
Acquisitions, lot mergers, and dispositions of ground leases for new developments
Environmental Issues and Compliance
Zoning Lot Development Agreement (ZLDA)
Drafting and Negotiation of Leases
Advise on insurance coverage, subrogation, and indemnity, additional insured, and exposure to liability