Not For Profit—Financing, Development, Acquisitions and Sales

Counsel for Not‑for‑Profit Organizations

The attorneys at Federman have extensive experience representing a variety of not-for-profit organizations, including, without limitation, educational organizations, churches, synagogues and other houses of worship, and museums. Given its vast experience, the firm has the ability to counsel leadership and its members/constituents and provide guidance through the countless potential pitfalls of a transaction as well as the approval process, both with respect to internal governance matters, as well as obtaining any required approvals from applicable governmental agencies, including, without limitation, approval of the attorney general’s office and/or the court, as required by applicable law.

Supporting Not‑for‑Profit Organizations Through Complex Real Estate Redevelopment

It is not uncommon for not-for-profit organizations to find themselves constantly fundraising in an effort to keep up with increasing costs relating to both operations, maintenance and repair of property. In many instances, the attorneys at Federman have assisted by assembling a team of professionals to guide the organization through the process of redeveloping their property with an experienced real estate developer, facilitating the transfer of development rights associated with the property to the developer in exchange for a newly constructed, built-to-suit condominium unit housing the corporation (and the varying programmatic needs thereof), which would be owned by the organization in perpetuity, and cash considerations, to establish an endowment for the future upkeep of the newly constructed premises. Having the opportunity to represent both developers and not-for-profit organizations on projects of different sizes and scopes, the firm has the ability to adequately protect the organization from the risks associated with failed development projects, while assisting in assuring the organization’s ability to remain in its present location, which often times, represents decades (or even centuries) of history at the applicable site.

Counsel to Catholic church located on West 31st Street in Manhattan in connection with the contribution of the church’s air rights to the development of a 60-story mixed-use residential tower in exchange for a developer delivering a new facility for the church including a newly constructed six story building adjacent to the tower with a multipurpose community hall, a library, a private meditation garden and living suites for the clergy.
Counsel to church in connection with the acquisition and development of a street level commercial condominium with a subterranean sanctuary located in the Tribeca neighborhood of Manhattan.
Counsel to church located in Washington Heights in connection with the ground lease and redevelopment of its property into a mixed-use building comprised of residential units and a community facility component for the church.
Counsel to Developer for redevelopment of a property owned by a church in Queens in connection with the sale, leaseback, redevelopment and conversion of its property into a condominium regime composed of a community facility space to house the church, commercial retail units and a residential component to be rented and/or sold as individual apartment units by the Developer.
Counsel to Developer for redevelopment of a property owned by a church on the Lower East Side of Manhattan in connection with the ground-lease and redevelopment of the property into a mixed-use building comprised of a community facility component for the church and residential units to be rented by the Developer.
Counsel to synagogue located on upper west side of Manhattan in connection with the sale, leaseback, redevelopment and conversion of its property into a condominium regime composed of, among other things, a community facility space to house the synagogue, and a residential component to be rented and/or sold as individual apartment units by the Developer.
Counsel to synagogue located on upper west side of Manhattan in connection with the sale, leaseback, redevelopment and conversion of its property into a condominium regime composed of, among other things, a community facility space to house the synagogue, commercial retail units and a residential component to be rented and/or sold as individual apartment units by the Developer.
Counsel to various institutional lenders in connection with financing transactions secured by first mortgage liens owned by non-for-profit organizations throughout the Tri-State area.
Counsel to various not-for-profit organizations in connection with the donation of appreciated real property by donors and the subsequent sale or auction by the organizations to raise proceeds to fulfill the organizations’ charitable purposes.
Counsel to various private schools located throughout New York City in connection with mortgage financings, acquisitions for expansion and development of new facilities.

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