In this episode of Inside R&E, Benjamin M. Williams, Member and Head of the firm's Property Tax Department, invites Brett B. Theis, Member in the firm’s Litigation Department, and Neil Axler, Managing Director at EisnerAmper NY and leader of the firm’s National Real Estate Valuation Practice, to discuss appraisal methodologies, commercial lease appraisals, arbitration and property tax issues.

In this conversation, Ben, Brett, and Neil explore various appraisal methodologies and valuation approaches. Neil discusses how appraisals are handled when engaged by divorce attorneys or appointed as a neutral appraiser for both parties. He offers insights into the sales, cost, and income approaches to property valuation, explaining which method is best suited to different scenarios. Brett adds perspective on appraisals in the context of commercial lease renewals, rent resets, and baseball arbitrations, emphasizing the importance of real-world experience in determining value. The group also discusses why arbitrators are often preferred over brokers, common issues surrounding the application and violation of USPAP (Uniform Standards of Professional Appraisal Practice), and the reasons lease agreements often lack specifics on rent renewals. They explain how it’s determined whether a dispute proceeds to arbitration or trial, and share stories and lessons learned from past cases they’ve worked on.

Benjamin Williams’ practice focuses on property tax reductions and planning. He has represented thousands of clients in property tax appeals and at New York City Tax Commission hearings. He also has a depth of experience in real estate tax projections for development, acquisition, leasing, financing and budgeting. Ben’s forte is in reducing property taxes for co-ops and condos, multi-family residential, office, and retail properties. He has worked on Industrial and Commercial Abatement Program (ICAP), ICIP, 421-a, 485-x, 467-m, J-51, Not-For-Profit, Childcare Center exemption and abatement applications and projections.

Brett Theis’ clients include some of New York’s largest investment and advisory firms, publicly traded REITs, commercial landlords and management companies, shopping center owners, international pension funds, not-for-profit corporations, and families with large real estate holdings. He uses his vast knowledge of New York law and nearly 20 years of litigation experience to evaluate complicated matters and develop intelligent, cost-effective strategies to achieve his clients’ goals. Brett regularly represents his clients in high-stakes matters in all New York state and federal courts, including appellate courts, and maintains an active arbitration practice. He has first-chaired numerous jury and non-jury cases to verdict and has been equally successful winning cases on motions for summary judgment and obtaining extraordinary injunctive relief for his clients when necessary.

Neil Axler has three decades of real estate experience in valuing individual assets and portfolios of income-producing commercial and industrial properties. His diverse client base includes publicly traded and privately held companies, high-net-worth individuals, family offices, and government entities at the state, local, and federal levels. Neil oversees business development, management, and execution of real estate valuation consulting projects. With deep expertise in valuations for financial reporting, trust and estate planning, federal government agencies, tax appeals, and litigation support, Neil is also experienced in providing services for special servicers and in handling...

In this episode of Inside R&E, Devin P. Kosar, a Member in the firm's Litigation Department, welcomes back Alex Zafran, the Director of Business Development of Logical Buildings, to continue their discussion on Local Law 97, which was enacted in 2019 as part of New York City’s Climate Mobilization Act.

In Part 2 of this series, (the original episode aired on March 25, 2025), Devin and Alex discuss the recent updates in the law concerning new reporting and filing deadlines, and the importance of engaging a registered design professional and legal team in your corner to help you navigate through the reporting and filing process, as well as potential issues that may arise for the first time with the new law. Finally, Devin and Alex discuss how to utilize other programs such as the new J-51 Tax Abatement Program (J-51R) for compliance with Local Law 97 and how to get ready for the stringent requirements and increased greenhouse gas emission caps that are on the horizon for 2030 and beyond.

Devin Kosar is the head of the Firm’s Violation Department and has extensive experience in all regulatory and administrative law matters before the New York City Office of Administrative Trials and Hearings, such as the Environmental Control Board, Department of Consumer Affairs and Department of Health as well as the New York City Criminal Court. Kosar’s practice also involves all areas of real estate litigation including complex commercial litigation, landlord/tenant law and construction law. Additionally, Kosar also counsels and represents condominium boards in connection with condominium governance and operational matters.

Alex Zafran is the Director of business development of Logical Buildings , where he partners with real estate owners and managers nationwide to cut energy costs, enhance efficiency, and lower their carbon footprint. Alex’s expertise spans across various sectors, including energy commodities and financial markets, energy procurement, solar generation, and smart buildings technology. His insights on New York City’s energy landscape for coops and condos have been featured in Habitat, Brick Underground, The Cooperator, and other industry publications. For buildings subject to Local Law 97, Alex’s primary goal is to eliminate the fear, uncertainty, and doubt that many are feeling right now, and replace it with a clear plan of action.

For any questions related to this episode, contact Devin P. Kosar at dkosar@rosenbergestis.com or (212) 551-1208. Alex Zafran can be reached at azafran@logicalbuildings.com.

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In this episode of Inside R&E, Alex M. Estis and Adam Lindenbaum, Members of R&E’s Litigation Department, join Dave Lorenzo, Founder of Exit Success Lab, to talk about some case studies where Litigation and Transactional Attorneys have worked together (or ideally should have worked together) to draft commercial leases. This episode is a follow-up to Alex’s previous episode with Dave, titled “Why Should I Call My Litigator To Draft a Lease?”, which was based on Alex’s recent co-authored New York Law Journal's Landlord-Tenant Column with Gary M. Rosenberg.

During the conversation, Alex, Adam and Dave talk about matters that led them to realize how important it is to involve a litigator alongside a transactional attorney in drafting lease agreements. They talk about how beneficial it is to have different perspectives on a lease, and the importance of using unambiguous language in these agreements to avoid possible future litigation and the cost that comes with it. They share their insights on key clauses found in lease agreements and also talk about particular industries and scenarios where involving a litigator with the transactional attorney to draft a lease produced great results for their clients. They also touch upon the Force Majeure clause, and what a transactional attorney should keep an eye on while drafting leases.

Alex M. Estis handles all complex matters of general commercial litigation, including landlord-tenant disputes, breach of contract, transactional disputes, real estate partnership disputes, brokerage commission actions, holdover proceedings, ejectment proceedings, owner occupancy actions, co-op/condo disputes, matters before the New York City Office of Administrative Trials and Hearings, such as the Environmental Control Board and Department of Health as well as the New York City Criminal Court. Alex also handles commercial leasing negotiations and preparation for landlords, commercial tenants and net lessors.

Adam Lindenbaum represents real estate firms, developers and tenants in connection with their use, management and operation of commercial real estate in New York and New Jersey. He dedicates his practice to handling disputes involving complex landlord-tenant matters, real estate ownership and commercial litigation. Adam also has extensive experience involving residential real estate and landlord-tenant matters, including those involving cooperative and condominium boards, rent control, rent stabilization and the loft law. Lindenbaum has practiced before state, federal and appellate courts in New York and New Jersey, the American Arbitration Association, as well as numerous administrative agencies.

For any questions related to this episode, contact Alex M. Estis at aestis@rosenbergestis.com or (212) 551-1204, or Adam Lindenbaum at alindenbaum@rosenbergestis.com or (212) 551-8405.

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In this episode of Inside R&E, Raychel A. Camilleri, a Member of R&E’s Litigation Department, joins Dave Lorenzo, Founder of Exit Success Lab, for a discussion on how the construction industry can work through the impact of tariffs on the cost of their current and future projects.

During the conversation, Raychel and Dave talk about the various clauses that should be included in the contract, including, but not limited to, a jurisdiction clause, time is of the essence clause, termination for convenience clause, and even some problematic clauses in some projects. They talk about various factors that could impact the cost of a project, with Raychel detailing GMP (Gross Maximum Price) contracts, Time and Materials contracts, Price Escalation clauses and Force Majeure clauses. They look at the impact of tariffs on a project from the perspective of both general contractors as well as owners, developers and lenders, and how the impact goes down the line to subcontractors. Raychel also advises on how negotiations could be made fair for everyone involved in the project, and how certain clauses could also help combat the potential increase in price of labor, due to change in immigration laws.

Raychel A. Camilleri is an accomplished trial lawyer sought for her experience and success in defending complex, high-exposure litigation. She manages client exposure and contains costs either by alternative dispute resolution or trial by jury when necessary. Raychel focuses her practice on construction defect litigation, products liability, labor law, and commercial matters. She also represents clients in appellate proceedings before the New York State Appellate Division, First and Second departments. She regularly advises clients pre-litigation through accident reconstructions and investigations.

For any questions related to this episode, contact Raychel A. Camilleri at rcamilleri@rosenbergestis.com or (212) 551-1219.

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In this episode of Inside R&E, Michael A. Pensabene, a Member in the firm's Litigation Department, and Craig M. Deitelzweig, President & Chief Executive Officer of Marx Realty, host an inaugural podcast in the new podcast gallery at 10 Grand Central.

In this episode, Craig walks Michael through the various facilities in the new space, explaining the thought process behind designing such areas and how they are being utilized by both tenants and external visitors. He also shares some exciting plans for the space’s future, tailored to the unique needs of the location. Craig elaborates on how, in response to the rise of remote work, he brings hospitality and comfort into the office to encourage people to return, emphasizing the social aspects that make the office experience more inviting—sometimes even in abundance. He highlights the importance of revitalizing older buildings to give the city a competitive edge while meeting tenant demands. Craig also discusses upcoming projects and shares his thoughts on the future of office space in New York City.

Michael A. Pensabene’s experience affords him the judgment to evaluate competing property interests and the business relationship between the parties, to know how and when to assert clients’ rights to achieve their objectives. Pensabene’s achievements representing clients such as the Hyatt Corporation, Trinity Real Estate, Forest City Ratner Companies and the Durst Organization are founded on these principles and were honed in a wide variety of forums, including City, State and Federal courts. Pensabene successfully tried one of the first cases concerning novel landlord and tenant issues resulting from the September 11, 2001 terrorist attack and set precedent concerning service of process. Pensabene’s expertise in connection with construction activities has ensured the timely completion of developments and the protection of neighboring property rights, including negotiating easements, work agreements, clearing development sites, and obtaining injunctive relief from the Supreme Court. He has also represented boards, shareholders, unit owners, sponsors and managing agents in a wide variety of disputes concerning complex co-op/condo issues.

Over his 25-year career, Craig M. Deitelzweig has vast experience in every aspect of the real estate industry and believes in a very hands-on approach. Prior to Marx, he held senior roles at both private equity and private development companies, including redeveloping over 50 assets in major markets across the country with a particular emphasis on NY and DC. Craig’s projects have received various awards from industry groups such as NAIOP, BOMA, Globe St., Crain’s, Washington Business Journal and AIA. He has been interviewed as a thought and innovation leader in several features in the Wall Street Journal, CNN, Bloomberg and on CNBC, and was selected as one of the Real Estate Forum’s Best Bosses of 2019. Under Craig’s leadership, Marx was selected to Crain’s Best Places to Work in 2020 and 2021. Craig was named to the 2020 and 2021 Commercial Observer’s Power 100 List. Craig previously practiced law in the real estate and litigation departments at Skadden before transitioning to the business side of the industry.

For any questions related to this episode, contact Michael A. Pensabene at mpensabene@rosenbergestis.com or (212) 551-8406. Craig M. Deitelzweig can be reached at craig.d@marxrealty.com or...

In this episode of Inside R&E, Alex M. Estis, a Member of R&E’s Litigation Department, joins Dave Lorenzo, Founder of Exit Success Lab, for a discussion about landlord-tenant leases. Alex shares insights from his recently published article, co-authored with R&E Founding Member Gary M. Rosenberg, titled “Why Should I Call My Litigator To Draft a Lease?”, which appeared in The New York Law Journal's Landlord-Tenant Column on April 2, 2025.

During the conversation, Alex and Dave talk about how it is increasingly beneficial for landlords and tenants to involve the advice and counsel of litigators as well as transactional attorneys when drafting lease agreements. Transactional attorneys handle the lease’s creation, while litigators help ensure the lease is enforceable in court by identifying potential issues and assessing how clauses might be interpreted and can help negotiate the lease by giving practical examples from experiences in Court and real time updates in court rulings which may affect how leases should be drafted.

Alex M. Estis handles all matters of general commercial litigation, including landlord-tenant disputes, breach of contract, transactional disputes, real estate partnership disputes, brokerage commission actions, holdover proceedings, ejectment proceedings, owner occupancy actions, co-op/condo disputes, matters before the New York City Office of Administrative Trials and Hearings, such as the Environmental Control Board and Department of Health as well as the New York City Criminal Court. Alex also handles commercial leasing negotiations and preparation for landlords, commercial tenants and net lessors.

For any questions related to this episode, contact Alex M. Estis at aestis@rosenbergestis.com or (212) 551-1204.

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In this episode of Inside R&E, Devin P. Kosar, a Member in the firm's Litigation Department, invites Alexander Zafran, the Director of Business Development of Logical Buildings, to share his insights on Local Law 97, which was enacted in 2019 as part of New York City’s Climate Mobilization Act.

During their discussion, Alex talks to Devin about his journey through the world of energy efficiency, how he was introduced to the world of energy for real estate, and why laws like LL97 are important. They dive into what Local Law 97 is, what the requirements are and the wide ranging effects of this new law. Alex and Devin discuss how building owners can navigate through the compliance requirements and avoid potentially large financial penalties for noncompliance, its overlap with other concurrent laws, and how to stay ahead of the curve with the increasingly stringent future carbon emission caps over the next several years required under Local Law 97.

Devin Kosar is the head of the Firm’s Violation Department and has extensive experience in all regulatory and administrative law matters before the New York City Office of Administrative Trials and Hearings, such as the Environmental Control Board, Department of Consumer Affairs and Department of Health as well as the New York City Criminal Court. Kosar’s practice also involves all areas of real estate litigation including complex commercial litigation, landlord/tenant law and construction law. Additionally, Kosar also counsels and represents condominium boards in connection with condominium governance and operational matters.

Alexander Zafran is the Director of business development of Logical Buildings , where he partners with real estate owners and managers nationwide to cut energy costs, enhance efficiency, and lower their carbon footprint. Alex’s expertise spans across various sectors, including energy commodities and financial markets, energy procurement, solar generation, and smart buildings technology. His insights on New York City’s energy landscape for coops and condos have been featured in Habitat, Brick Underground, The Cooperator, and other industry publications. For buildings subject to Local Law 97, Alex’s primary goal is to eliminate the fear, uncertainty, and doubt that many are feeling right now, and replace it with a clear plan of action.

For any questions related to this episode, contact Devin P. Kosar at dkosar@rosenbergestis.com or (212) 551-1208. Alexander Zafran can be reached at azafran@logicalbuildings.com.

Click here to stream this episode, or view it here on YouTube.

In this episode of Inside R&E, Christopher A. Gorman, a Member in the firm's Litigation Department, invites Dr. Rebel A. Cole, Lynn Eminent Scholar Professor of Finance in the College of Business at Florida Atlantic University, to discuss the Distressed Commercial Real Estate market. They explore key trends from recent years and offer insights into what lies ahead for the industry.

During their discussion, Dr. Cole explains the "Maturity Wall of Worry" facing regional banks, which has led to the widespread adoption of the "Extend and Pretend" strategy. He explores the impact of rising inflation and the significant exposure of regional banks to uninsured deposits, shedding light on the factors that drive banks to employ these approaches. Dr. Cole and Chris compare default rates between regional and national banks, noting that national banks rarely rely on such strategies. They also examine banks' substantial exposure to Commercial Real Estate Mortgages, the decline in property values, rising interest rates, and the shift from physical spaces to digital in the office and retail sectors. Looking ahead, they discuss what these factors could mean for Commercial Real Estate over the next 12 months and explore potential alternatives to the "Extend and Pretend" strategy for regional banks. Additionally, they touch on emerging opportunities within the Distressed Real Estate Market.

Christopher Gorman concentrates his practice in all phases of complex commercial litigation in State and Federal Courts. He has litigated cases on behalf of corporations and individuals involving a variety of substantive areas of the law, including breach of contract, commercial and residential mortgage foreclosure actions, construction litigation, landlord-tenant litigation, partnership and shareholder disputes, bankruptcy litigation, estate litigation, employment and restrictive covenant disputes, RICO, trademark litigation, and a wide array of real estate-related litigation. Gorman also serves as outside general counsel to several start-up entities and other corporations providing advice to clients on all general corporate, mergers and acquisitions, contract and employment-related matters.

Dr. Rebel Cole has published peer-reviewed articles in top academic journals that include the Journal of Finance, the Journal of Financial Economics, the Journal of Financial & Quantitative Analysis, the Journal of Financial Intermediation, the Journal of Corporate Finance, the Journal of Banking & Finance, the Journal of Real Estate Finance and Economics and Real Estate Economics. His primary areas of research are commercial real estate, entrepreneurial finance, and financial institutions. Most of his manuscripts are available for free download from the Social Science Research Network (SSRN), where he is ranked in the top 0.1% of more than 1,600,000 researchers worldwide. According to Google Scholar, Dr. Cole's research has been cited almost 14,000 times. According to Scopus and Web of Science, Dr. Cole's research has been cited more than 3,000 times. Dr. Cole is also an active commentator in the media. During his career, he has been cited in the Wall Street Journal, the New York Times, the American Banker, Bloomberg BusinessWeek, the Chicago Tribune, CNN Money, Forbes, the Huffington Post, NPR's All Things Considered, Voice of America News, the Washington Post, the Washington Times, and Yahoo Finance. He has appeared in television interviews on CNN, First Business News, Fox Business News, the PBS Nightly Business Report and The Today Show, as well as several local Chicago and south Florida news shows.

For any...