Nonprofit Real Estate

Nonprofit Real Estate

Real estate transactions are some of the most significant business decisions made by nonprofit leaders.  Although for some nonprofits it simply represents  a necessary operating expense, for others it signifies an investment that brings in additional revenue through either the sale or lease of property. In either case, real estate matters including leases, contracts, financing, and tax reduction, avoidance and abatement require the combined skills of a nonprofit attorney and a real estate lawyer.

Our knowledge and experience in each area  supports our client’s ability to obtain good value, maximize the benefits of their tax-exempt status, and minimize their tax obligations on real property income, where applicable.

Matters
  • Leases/Licenses
  • Purchases, Sales, Mortgages
  • Real Property Tax Exemption
  • New York State Attorney General Approval of Real Estate Transactions
  • Guidance on proper corporate procedures to approve or reject a real estate transaction
  • Guidance on how to avoid conflicts of interest and self-dealing in real estate transactions
Representative Work
  • Obtained Attorney General aprroval on numerous multimillion dollar real estate transactions involving the sale of real property by churches and charities
  • Litigated governance issues that ultimately determined who controlled a charity that owned multimillion dollar  pieces of real estate.
  • Obtained or reinstated real property tax exemptions for numerous charities
  • Negotiated leases and contracts of sale for clients
  • Sold property for noncharitable nonprofit organizations such as country clubs, social clubs and boating clubs and provided guidance on the proper disbursement of  the funds to the membership