Greenbaum Rowe Smith & Davis Newsletter

Transactions

Partner Meryl A. G. Gonchar, chair of the firm’s Land Use Practice Group, together with Steve Firkser, counsel, was successful in finally defeating the Township of Allamuchy’s efforts to condemn property owned by Baker Residential Limited Partnership, which had been approved for over 500 residential units in a gated planned development. On January 13, 2005, the Supreme Court of New Jersey issued an order denying the Township’s Motion for Reconsideration of the Court’s denial of the Township’s Petition for Certification. The Township claimed that the land was being acquired for open space but the trial court dismissed the condemnation actions agreeing with Baker that the actions had been commenced in bad faith.

 

Partner Wendell A. Smith, chair of the firm’s Planned Real Estate Practice Group, drafted the Public Offering Statement and Condominium Documents for a complex mixed use condominium to be located in a redevelopment zone in New Brunswick, New Jersey, and the condominium was recently registered by the New Jersey Department of Community Affairs. Construction has commenced on this condominium, which includes over 120 luxury residential units, a commercial unit with over 40,000 square feet of office and retail space and a garage unit with parking for over 400 vehicles. Partner Robert C. Schachter, chair of the firm’s Real Estate Department, also represented the owner in connection with construction financing obtained from an institutional lender.

 

Partner Christine F. Li, member of the firm’s Planned Real Estate Practice Group, recently handled the conversion to the condominium form of ownership of a 41-story luxury high-rise building located in the Borough of Fort Lee, New Jersey. A non-eviction conversion plan was prepared for this tenant-occupied building and registered with the New Jersey Department of Community Affairs. The condominium consists of 538 apartment and townhouse-style residential units and 2 commercial units. The common amenities of the condominium include over 1,000 parking spaces, an outdoor swimming pool with spa, a fitness center, library, conference room, and children’s playroom.