Barry E. Somerstein concentrates his practice in the area of real estate transactional law, finance, leasing, general corporate sports law and land use.
Mr. Somerstein has represented many clients in the negotiation, structuring and documenting of real estate asset transactions, primarily, in connection with shopping centers, hotels and office buildings. Additionally, he works with developer clients in connection with the acquisition, permitting, land use planning, finance and development of large tracts of real estate. His extensive background has enabled him to assist numerous clients in taking a raw piece of real estate and developing it into a finished product.
A substantial part of Mr. Somerstein’s practice involves all aspects of leasing and leasehold financing. Mr. Somerstein represents numerous landlords in connection with the leasing of office buildings, shopping centers and warehouses. He also represents numerous clients in negotiating leases on behalf of tenants. Mr. Somerstein has structured long-term ground leases to enable clients to develop on real estate based on the use of long-term ground leases on both a subordinated and unsubordinated basis.
Mr. Somerstein has spent a considerable period of time representing both lenders and borrowers in connection with real estate and asset-based financing. He has had extensive experience in loan workout and reorganizations. Mr. Somerstein is involved in structuring corporations, general partnerships, limited partnerships and joint ventures.
Mr. Somerstein has spoken at various seminars on office and industrial leasing and growth management.