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  • Apr 15, 2019Michael Reilly in Panel Discussion at The Cooperator Expo New York

    Michael T. Reilly, a Member of law firm Norris McLaughlin, P.A., participated in the panel discussion “Homesharing and Subletting in the Airbnb Era – New Rules and Best Practices to Protect Your Investment” at The Cooperator Expo New York, Thursday, April 11, at the New York Hilton Midtown in New York.

    Reilly discussed the rise of Airbnb and other homeshare platforms and the latest developments in the homeshare economy; how it’s impacting property owners and building administrators in the city; and what you can do to strike a balance between residents’ rights and protecting your property.

    The Cooperator Expo New York is one of New York’s biggest co-op, condo, and apartment expos, with more than 300 exhibitors. Attendees get advice from industry experts and network with peers while learning about the latest building services.

    Reilly devotes his practice to real estate, construction, finance, landlord tenant litigation, and probate matters.  He advises cooperative and condominium boards and homeowner associations on corporate governance, financing, construction contracts, commercial leases, regulatory compliance, utility procurement, and insurance recovery matters. He also provides general counsel advice to not-for-profit corporations that provide supportive housing and social services to elderly, economically disadvantaged, and developmentally disabled residents. He represents corporate entities, individuals, and trusts in the purchase, sale, and lease of commercial properties, condominium units, cooperative apartments, loft spaces, time-share properties, single and multi-family homes, and undeveloped land. Reilly helps owners obtain acquisition financing and negotiate the refinancing and restructuring of underlying mortgages and lines of credit, he advises real estate investors in Internal Revenue Code Section 1031 like-kind exchanges.

    In addition, Reilly litigates commercial and residential landlord tenant cases in New York Civil and Supreme Courts. He has represented condominium boards in common charge collection and unit owner default cases, and successfully negotiated with commercial developers and neighboring buildings to secure license, access, and indemnity agreements on behalf of landlords during construction. He regularly appears before city and state regulatory agencies, including the New York City Environmental Control Board, the New York City Department of Buildings, and the New York City Department of Housing Preservation and Development, defending landlords and tenants in municipal, construction, environmental, criminal, fire, and building code violations. He has successfully prosecuted non-primary residence proceedings on behalf of regulated housing landlords.

    Reilly received his B.A., Government, from Hamilton College in 1998, his J.D. from Tulane University Law School in 2001, and his LL.M., Taxation, from Boston University School of Law.

    Posted in: Cooperative ("Co-op") and Condominium Law, Estate Planning & Administration, Michael T. Reilly, News, Real Estate & Finance | Tags: , , , ,

  • Nov 13, 2013Norris McLaughlin, P.A.Closes First Multi-Family Grant Under NYC Build It Back

    Norris McLaughlin, P.A.Closes First Multi-Family Grant Under NYC Build It Back

    New York, NY (November 13, 2013) – New York, NY (November 13, 2013) – The Cooperative and Condominium Law Group of Norris McLaughlin, P.A. represented Knickerbocker Village (KVI) in securing $1.46 million in Hurricane Sandy relief funds from NYC Build it Back multi-family building repair program. This transaction was the first grant provided by the NYC Build it Back program. KVI was represented by Norris McLaughlin, P.A.attorneys Burt Allen Solomon, Karol S. Robinson, Michael T. Reilly, and Danielle M. Wanglien.

    “Knickerbocker Village will use its $1.46 million to finance Phase I of repairs to help undo the damage caused by Hurricane Sandy. In addition to making much needed repairs, the funds will help improve the resiliency of the buildings to resist and mitigate damage from future severe weather events,” said Robinson.

    “NYC Build it Back is an important part of our efforts help New Yorkers continue the road to recovery,” said Mayor Michael R. Bloomberg.

    “Today marks a new beginning for these first three multi-family buildings to receive federal recovery funding through NYC Build it Back. Hurricane Sandy was a turning point for how we must think about protecting our tenants and our housing stock in the face of severe weather events. It’s fitting that we memorialize this storm by moving forward and rebuilding better, smarter and stronger than before,” said Department of Housing Preservation and Development Commissioner RuthAnne Visnauskas.

    By way of merger with Szold & Brandwen, P.C., Norris McLaughlin, P.A. has a long and illustrious history working with housing corporations. Members of the Cooperative and Condominium Law Group worked with the establishment of middle income and Mitchell-Lama government-assisted cooperative housing. They have also helped to develop and update New York’s legislation for cooperatives constructed with government assistance for persons of moderate income. The Group deals with all relevant government agencies involved with this type of housing, represents housing developments with their architects, engineers and contractors, and advises them concerning corporate governance and the relationships between the co-ops and their shareholders and commercial tenants.

    Today, Norris McLaughlin, P.A. represents cooperative and affordable housing corporations as both general and special counsel, as well as luxury cooperatives and condominiums, dealing with the Boards of Directors, officers, and managers. The firm brings to its co-op and condominium practice expertise in real estate, financing, corporate, general commercial, trusts and estates, and employment law drawn from the other practices of the firm.

    Posted in: Burt Allen Solomon, Cooperative ("Co-op") and Condominium Law, Michael T. Reilly, News |

  • Sep 09, 2013Michael T. Reilly Appointed to Cooperative & Condominium Law Committee of City Bar

    Michael T. Reilly Appointed to Cooperative & Condominium Law Committee of City Bar

    New York, NY (September 9, 2013) – Michael T. Reilly, an attorney with the law firm of Norris McLaughlin, P.A., was recently appointed to the Cooperative & Condominium Law Committee of the New York City Bar Association.

    ”It is my pleasure to join the Cooperative and Condominium Law Committee. I look forward to the opportunity to contribute to the efforts of the committee to address the issues that impact our industry,” said Reilly.

    The Committee addresses issues in a variety of areas pertaining to cooperative and condominium housing law. These areas include changes in the policies of lenders and working with lenders to address changed policies and other issues (both with respect to end loans and underlying mortgages), recent legislation in the New York State Legislature and in the New York City Council, discrimination in coops and condos, reasonable accommodations, and issues between boards and apartment owners. Members speak regularly with the Office of the Attorney General Real Estate Finance Bureau and serve on the committees of other organizations to coordinate efforts in the industry.

    Reilly, a resident of Westfield, New Jersey, counsels private cooperative and condominium boards on corporate governance matters, financing, contracts, commercial leases and regulatory compliance. He is experienced in sponsor litigation and has successfully represented boards and property managers in shareholder breach of fiduciary duty cases. Reilly also represents cooperatives regulated by the New York City Department of Housing Preservation and Development, the New York State Division of Housing and Community Renewal, and the United States Department of Housing and Urban Development.

    Reilly represents individuals, trusts, and corporate entities in the purchase, sale, lease, and financing of residential condominium units, cooperative apartments, timeshare properties, single and multi-family homes, and undeveloped land. He has also advised real estate investors in Internal Revenue Code Section 1031 Like-Kind Exchanges.

    In addition, Reilly litigates commercial and residential landlord tenant cases in New York Civil and Supreme Courts. He has also represented condominium boards in common charge collection and unit owner default cases. He regularly appears before city and state regulatory agencies, defending landlords and tenants in municipal, construction, environmental, fire and building code violations.

    Reilly earned his LL.M. in Taxation from Boston University School of Law in 2002; his J.D. from Tulane University School of Law, where he was a Notes and Comments Editor for the Tulane Maritime Law Journal, in 2001; and his B.A. in Government from Hamilton College in 1998. He is admitted to practice in New York, the U.S. District Court for the Eastern, Southern and Northern Districts of New York, and before the U.S. Tax Court.

    Posted in: Cooperative ("Co-op") and Condominium Law, Michael T. Reilly, News |

  • Jun 03, 2013Norris McLaughlin, P.A.Testifies in Opposition to Proposed Cooperative Legislation

    New York, NY (June 3, 2013) – Burt Allen Solomon, a Member of Norris McLaughlin, P.A., and its Cooperative and Condominium Law Group, testified in opposition to proposed New York City legislation Intro 188, which would be called the Fair Cooperative Procedure Law (“FCP Law”), at a New York City Council Committee Hearing.  The FCP Law is being touted as adding to existing protections against discrimination in the cooperative housing purchase-and-sale market in New York City.   In addition to Solomon, several other attorneys in the firm’s Co-op and Condo Law Group worked on preparation for the hearing, including Karol S. Robinson, a Member of the firm who researched and drafted the testimony; Michael T. Reilly, who also completed research and attended the hearing; and Ezra N. Goodman, Member of the firm and Chair of the Group.

    “As currently drafted, the FCP Law creates an undue burden on cooperatives, their boards of directors, and their managing agents; and puts directors who are involved in the application approval process at an unconscionable risk of personal liability.  Further, the proposed legislation does not truly address the alleged discrimination in the cooperative application approval process that is supposedly motivating the law,” testified Solomon.

    “Real estate brokers and their lobbying groups that support the FCP Law testified about the economics of the cooperative buying process and the brokers’ perceived need to set firm deadlines, but housing discrimination, which the law was intended to address,” Reilly explains.

    By way of merger with Szold & Brandwen, P.C., Norris McLaughlin, P.A. has a long and illustrious history working with housing corporations. Members of the Cooperative and Condominium Law Group worked with the establishment of middle income and Mitchell-Lama government-assisted cooperative housing. They also helped to develop New York’s legislation for cooperatives constructed with government assistance for persons of moderate income. The Group deals with all relevant government agencies involved with this type of housing, represents housing development with their contractors, and advises them concerning corporate governance and the relationships between the co-ops and their shareholders.

    Today, Norris McLaughlin, P.A. represents cooperative and affordable housing corporations as both general and special counsel, as well as luxury cooperatives and condominiums, dealing with the Boards of Directors, officers, and managers. The firm brings to its co-op & condominium practice expertise in real estate, financing, corporate, general commercial, trusts & estates, and employment law drawn from the other practices of the firm.

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    Posted in: Burt Allen Solomon, Cooperative ("Co-op") and Condominium Law, Ezra N. Goodman, Michael T. Reilly, News |

  • Aug 26, 2011Norris McLaughlin, P.A.Closes Over $150 Million Financing Package for Mutual Redevelopment Houses

    August 26, 2011

    Norris McLaughlin, P.A.
    721 Route 202-206, Suite 200
    P.O. Box 5933
    Bridgewater, NJ 08807-5933
    Contact: Edward C. Miller, Jr.
    Chief Marketing Officer
    (908) 722-0700 x4224

    Norris McLaughlin, P.A.Closes Over $150 Million Financing Package for Mutual Redevelopment Houses

     

    New York, NY (August 26, 2011) – In June, Norris McLaughlin, P.A. assisted its client, Mutual Redevelopment Houses, Inc. (“Mutual”), a 2,820-unit affordable cooperative housing development located in the Chelsea neighborhood of Manhattan, to complete a major financing package, totaling $151 million plus a capital grant from the City of New York. Drawing on extensive cooperative and financing experience, Burt Allen Solomon, assisted by Michael T. Reilly, both of the New York office, completed a complex series of loan and financing transactions originated and structured by Ezra N. Goodman, also of the New York office.

    The financing was designed to refinance Mutual’s previous debt and provide it with about $100 million in funds for replacing Mutual’s HVAC system in each of its apartments (located in ten 22-story buildings), while keeping Mutual affordable for its low and moderate income residents. The financing, which had to be accomplished before the June 30th end of the City’s fiscal year, consisted of a Wells Fargo Bank, N.A. loan ($134 million) at market interest rates, plus a $17 million 30-year two-part loan from the City’s Housing Development Corporation. Coordinating with the numerous parties involved extensive negotiations and frequent conference calls among all concerned. In addition, to accomplish the closing, Mutual’s 1987 regulatory agreement with the City had to be amended, requiring negotiations with the City’s Department of Housing Preservation and Development and approval by the New York City Council, as well as a proposed statutory amendment. The amendment to the regulatory agreement was worked on by both Goodman and Solomon. To close the loans, a special “reasoned” legal opinion as to a New York mortgage recording tax exemption issue was required by Fannie Mae, which provided the funding for the Wells Fargo loan, backed by the AFL-CIO Housing Investment Trust. Peter D. Hutcheon, who recently relocated to the New York office, prepared that opinion. Goodman is in charge of preparing the engineering and construction contracts and bid packages for the HVAC project and related asbestos removal.

    By way of merger with Szold & Brandwen, P.C., Norris McLaughlin, P.A. has a long and illustrious history working with housing corporations. Members of the Norris McLaughlin, P.A. Cooperative and Condominium Law Group and their forebears have worked on the establishment of middle income and Mitchell Lama government-assisted cooperative housing. They also helped to develop New York’s legislation for cooperatives constructed with government assistance for persons of moderate income. The Group has represented one of the major developers of this type of housing, dealing with all relevant government agencies in the planning stage and with contractors in the construction stage, and drafting documentation governing the relationships between the cooperatives and shareholders.

    Today, Norris McLaughlin, P.A. represents cooperative and affordable housing corporations as both general and special counsel, as well as luxury cooperatives and condominiums, dealing with the Boards of Directors, officers, and managers. The firm brings to its cooperative & condominium practice expertise in real estate, financing, construction, corporate, general commercial, trusts and estates, and employment law drawn from the other practices of the firm.

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    Posted in: Burt Allen Solomon, Ezra N. Goodman, Michael T. Reilly, News, Peter D. Hutcheon, Real Estate & Finance |

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