Adam Leitman Bailey | |
|---|---|
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| Born | |
| Alma mater | Rutgers University Syracuse University College of Law (J.D.) |
| Occupation | Attorney |
| Website | www |
Adam Leitman Bailey is an American lawyer who practices residential and commercial real estate law as founder of Adam Leitman Bailey, P.C. He was involved in several notable legal cases. [2] [1] [3] [4] [5]
The Martindale-Hubbell peer review system gave Bailey an AV rating, its highest category. [6]
Bailey was born in Bayside, Queens. [1] [7] He moved to California at age five and later moved back to New Milford, New Jersey, where he graduated from New Milford High School. [8] He graduated with honors from Rutgers University and Syracuse University College of Law. [9]
During his time at Syracuse Law, he was elected to the Moot Court team. Bailey studied under respected lawyers Travis Lewin and Deborah Kenn, the latter of whom mentions him in her book. According to Kenn, “Adam was an exceptional student, extremely passionate about the work in the [Community Development Law] Clinic, and committed to providing high quality representation to his clients, I remember his interest in real estate law and the clinic’s practice in affordable housing development. But, above all, I remember a devotion to excellence in every endeavour he would undertake as a student attorney.” Adam Leitman Bailey received New Milford High School’s Distinguished Alumni Award. [10]
In 2008, Bailey formed a non-profit entity known as "Save Harlem" to challenge certain zoning changes being proposed by the City of New York, and to serve as lead plaintiff in a challenge to the proposed demolition of a two-story building at 125th Street and Frederick Douglass Boulevard, and the development of the site as a shopping center. [1] [7] [11] Bailey proposed legislation that would prevent the demolition. Early in 2008, Save Harlem, along with several building tenants (forming a group known as the Coalition to Save Harlem) sued, eventually settling for more than $1 million and gaining the right of the tenants to remain in the building. [12]
Park51 was a planned Muslim community center located near the site of the World Trade Center. Timothy Brown, a former firefighter, sued to prevent construction of the community center so close to the site of the September 11 attacks. [13] Bailey represented the community center on a pro bono basis, and in July 2011 the New York Supreme Court held that Park51 would be permitted to build its proposed center.
Trump SoHo New York [14] is a $450 million hotel condominium. In February 2011, several prospective buyers of condominiums in the building, including French soccer star Olivier Dacourt, sued the developers in federal court, claiming that they had been tricked into buying the condos by the "deceptive" sales figures, and that the number of apartments sold at Trump Soho had been "fraudulently misrepresented." The plaintiffs were represented by Bailey. The suit was settled with plaintiffs recovering 90 per cent of their deposits. [15] [16] Several years later, the case was described as "a watershed case in the world of condo litigation ... [C]ondo attorneys said that developers are now far more reluctant to disclose sales information to buyers’ attorneys, for fear of legal repercussions if they turn out to be wrong.” [17]
Following the financial crisis of 2007-08, Bailey used the Interstate Land Sales Full Disclosure Act of 1968 to relieve purchasers of Sky View Parc, a $1 billion condominium complex in Queens, of their contractual obligations to purchase, and obtained the largest residential condominium settlement in New York history. [18] [19] The condominium was ordered to refund 75 per cent of the $5 million in down payments to the buyers who backed out of the $50 million project. [20] Bailey has been credited with being the first lawyer to use the law in this fashion, [21] [22] [23] and he employed the same approach in a later case in an appeal of an adverse trial court decision to the United States Court of Appeals for the Second Circuit. [24] [25] [26] Congress later closed the ILSA loophole with Public Law 113-167, which provides an exemption for condominiums from ILSA's registration requirements for all new construction after enactment.
Bailey has been described as a controversial figure in NYC real estate. [1] [27]
On May 3, 2019, Bailey was suspended from practicing law for a four-month term. The suspension was imposed for undignified conduct (including telling a party suing Bailey's client that he "should commit suicide") and for threatening criminal charges to obtain an advantage in a civil matter. [28]
Bailey established the “Raymond 'Hap' Harrison” scholarship in 2008, named after his former high school track coach. Since then, he has given four-year academic awards to 17 students: 10 from New Milford and seven from New York City schools. [29]
In 2011, Bailey wrote Finding The Uncommon Deal: A Top New York Lawyer Explains How to Buy a Home for the Lowest Possible Price. The book gained Bailey the 2012 "First Time Author" award granted by the National Association of Real Estate Editors. [30]
Bailey has written a children’s book, Home, which was named a Silver winner in the category Picture Book/Early Reader by Literary Classics. [31]
Bailey was named one of New York’s "Most Powerful Real Estate Attorneys" by the Commercial Observer in 2015. [32]
Bailey was named one of New York's Top Real Estate litigators by Chambers & Partners in 2021. [33]
Bailey was also recognized in The Best Lawyers in America since 2015 in Real Estate Law New York, New York. [34]
A condominium is an ownership regime in which a building is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners. These individual units are surrounded by common areas that are jointly owned and managed by the owners of the units. The term can be applied to the building or complex itself, and is sometimes applied to individual units. The term "condominium" is mostly used in the US and Canada, but similar arrangements are used in many other countries under different names.
The Conrad Fort Lauderdale is a luxury condominium-hotel resort located on ocean-front property on North Fort Lauderdale Beach Boulevard in Fort Lauderdale, Florida. The resort includes 181 condo-hotel units, as well as 109 condominium units in a separate building known as The Ocean Resort Residences. The project initially began construction in July 2005, as Trump International Hotel & Tower Fort Lauderdale. Donald Trump lent his name to the project through a licensing deal before being elected the President of the United States, with New York developer Roy Stillman and Bayrock Group as the project developers. The project's opening was initially scheduled for 2007, but was delayed several times.
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The Interstate Land Sales Full Disclosure Act of 1968 was an act of Congress passed in 1968 to facilitate regulation of interstate land sales, to protect consumers from fraud and abuse in the sale or lease of land. The Act was patterned after the Securities Act of 1933 and required land developers to register subdivisions of non-exempt lots or condominium units. Originally, the filings were to be with the United States Department of Housing and Urban Development. Currently, the responsibility for administering the Act and its regulations is with the Consumer Financial Protection Bureau (CFPB). A regulated developer is to provide each purchaser with a disclosure document called a Property Report. The Property Report contains relevant information about the subdivision and must be delivered to each purchaser before the signing of the contract or agreement and gives the purchaser at a minimum a 7-day period to cancel the purchase agreement.
Trump Ocean Resort Baja Mexico was a failed luxury condominium-hotel resort to be located at Punta Bandera in the Playas de Tijuana borough of Tijuana, Baja California, Mexico, approximately 16 kilometres (9.9 mi) from the San Ysidro border crossing.
The Dominick, formerly the Trump SoHo, is a $450 million, 46-story, 391-unit hotel condominium located at 246 Spring Street at the corner of Varick Street in the Hudson Square neighborhood of Manhattan, New York City. It was announced in 2006, completed in 2008 and renamed in 2017.
Edward Alexander Mermelstein is New York City’s Commissioner for International Affairs. He is also an attorney, financial investment advisor, media pundit and real estate developer.
One57, formerly known as Carnegie 57, is a 75-story, 1,005 ft (306 m) supertall skyscraper at 157 West 57th Street between Sixth and Seventh Avenues in the Midtown neighborhood of Manhattan in New York City. The building has 92 condominium units above a 210-room Park Hyatt Hotel that serves as the flagship Hyatt property. The tower was developed by Extell Development Company and designed by Christian de Portzamparc. It was the first ultra-luxury condominium tower along a stretch of 57th Street called Billionaires' Row.
CondoDomain is one of the first web-based real estate brokerages.
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35 Hudson Yards is a mixed-use skyscraper in Manhattan's West Side composed of apartment units and a hotel. Located near Hell's Kitchen, Chelsea, and the Penn Station area, the building is a part of the Hudson Yards project, a plan to redevelop the Metropolitan Transportation Authority's West Side Yards. As of November 2022, it was the 28th-tallest building in the United States.
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Jay A. Neveloff is an American real estate lawyer known for representing Donald Trump and his companies. He is a partner in the law firm Kramer Levin Naftalis & Frankel.
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