At Cohen & Perfetto LLP, we do more than close deals. Cohen & Perfetto LLP provides comprehensive services to purchasers and sellers of virtually all types of real estate in all stages of development. We represent a wide range of clients, from owners, developers, investors and publicly traded companies. We structure transactions to provide our clients with the ability to phase the purchase and development of projects so that our client’s maximize their return and mitigate their risks. We are involved from the initial letter of intent. In addition to drafting the transaction documents, our work also involves assisting our clients in (i) reviewing due diligence which includes, title, survey, leases, environmental and zoning matters and (ii) negotiating easements, restrictive covenants and other agreements necessary for the development of the property. Cohen & Perfetto LLP also routinely structures the relationships between the parties governing the ownership and development of the real estate, including joint ventures, public-private partnerships and other entities.
Cohen & Perfetto LLP pays detailed attention to the allocation of risks, rights and obligations of all parties to ensure a successful development project. We work with a diverse set of clients, developers, entrepreneurs, landlords, builders, lenders, borrowers, commercial and not-for-profit organizations, public-private partnerships to successfully close and develop projects throughout the United States. We bring together extensive knowledge of contract negotiation, real estate law, business transactions and construction law to guide our clients through every phase of a real estate transaction to a successful completion.
At Cohen & Perfetto LLP, we represent large and small businesses, real property owners, investors in leasing, ground leasing, developing, constructing, financing, and disposing of all types of leasing projects throughout the United States. Our practice covers every type and size of office lease from small office leases, major corporate office building headquarters and corporate headquarters to ground leasing of major development sites.
Cohen & Perfetto LLP has substantial experience representing major industrial developers and industrial corporate tenant users. We have negotiated and drafted leases on behalf of landlords and tenants for millions of square feet of industrial space in multi-tenant and single-tenant industrial projects (as small as a few thousand square feet in multi-tenant projects to 1,000,000+ square foot distribution centers), including warehouse and distribution/logistics centers.
In addition, Cohen & Perfetto LLP, has extensive experience in the negotiation of all types of standard retail and mixed-use retail leases. We have completed countless transactions with many national and regional operator tenants, including “big box,” retail center and neighborhood center tenants and regional mall and entertainment/lifestyle center tenant operators, including health club, restaurant, cinema and other specialty retail operators.
Cohen & Perfetto LLP represents borrowers in every aspect of commercial lending transactions. We work closely with our clients to structure transactions consistent with our clients’ needs, expeditiously and as cost-effectively as possible. We have experience in large and small, secured and unsecured commercial credit facilities ranging from small loans and single borrowers to multi-million dollar credit facilities and other forms of structured financing.
We also assist lenders in taking every kind of personal and real property as collateral. This includes accounts, inventory and equipment, intellectual property and real estate. We have extensive experience in all types of loan-related documentation including not only credit agreements and collateral documents, but also inter-creditor agreements, interest rate option and swap agreements, collateral agency agreements, subordination agreements and letters of credit.
Cohen & Perfetto LLP has extensive experience in representing clients in tax incentive related matters. Our clients range from large public companies to individual developers. For each client we develop a strategy to minimize taxes and maximize benefits. Cohen & Perfetto LLP provides comprehensive real estate tax incentive advice from before development begins through completion of a project and beyond.
Our team has worked successfully on behalf of our clients to obtain large incentive packages for a multitude of different projects. Our guiding objective is to add value for our clients, not only by meeting their deadlines, but also by bringing our experience on their particular matters which quite often exceeds their expectations.
Our work has included obtaining the following incentives for our clients:
Industrial & Commercial Abatement Program (ICAP): ICAP provides abatements from property taxes for periods of up to 25 years for industrial and commercial buildings that are build, renovated or otherwise physically improved.
Relocation and Employment Assistance Program (REAP): REAP offers business income tax credits for 12 years as a result of relocating jobs from outside of New York City or below 96th Street in Manhattan to designated locations above 96th Street in Manhattan or in Queens, Brooklyn, Bronx or Staten Island.
Commercial Expansion Program (CEP): CEP provides property tax benefits for certain qualified leases in commercial offices and industrial/manufacturing spaces located in designated abatement zones, designed to increase tenant occupancy in commercial offices and industrial/manufacturing spaces.
Commercial Revitalization Program (CRP): CRP provides tax incentives through a property tax abatement and a Commercial Rent Tax Special Reduction for certain non-residential or mixed-use buildings located in lower Manhattan.
Energy Cost Savings Program (ECSP): ECSP reduces regulated energy costs up to 45% and regulated natural gas costs up to 35% for eligible business.
In New York State, depending on the nature of the acquisition and development of certain commercial properties, local Industrial Development Agencies (IDA), may provide financial assistance to a purchaser and/or developer. The purpose of an IDA is to promote, develop, encourage and assist in the acquisition, construction and improvement of industrial, manufacturing and commercial facilities in order to improve job opportunities and the economic welfare of people in the State of New York.
IDAs provide financial assistance to purchasers and developers of commercial property by way of mortgage recording tax exemption, real property tax abatement, sales tax exemption and tax exempt bond issuance.
Cohen & Perfetto LLP has extensive experience with IDA transactions that help companies expand, develop, renovate and/or purchase facilities. This enables businesses to remain in their current location or relocate to a new location by obtaining the benefits they need to keep their businesses viable.
Cohen & Perfetto LLP works with individuals and developers on projects from applications for variances to applications for permits, subdivisions and sit plans in order to obtain land use approvals by navigating the complex world of state and local zoning and land use approvals.
We have been involved on both sides of commercial and residential developments requiring subdivisions and/or site plan approvals. We are involved at the earliest stages of a project and consult with our clients through each procedural step in order to ensure that there is compliance with the regulatory process.
Cohen & Perfetto LLP’s clients’ best interests are our primary focus and this motivates us when we negotiate resolutions necessary to help mitigate disputes before the need for litigation arises. We work closely consulting our clients on the best way to structure transactions to substantially decrease the odds for litigation. If litigation does become necessary, we work with our clients to put them in the best position to achieve the best result.