Adam Leitman Bailey, P.C. (ALBPC) continues to find the right digs for high-end clients in New York. Andrew Jorges of the firm’s transactionaldepartment recently represented the purchaser of a $10 million townhouse on the Upper East Side of Manhattan. The Upper East Side property contains 11 rooms and about 6,300 square feet of above-grade gross living area. It was previously owned by a well-known graphic artist. But this was not a standard upscale residential real estate transaction, said Adam Leitman Bailey, who maintained that his firm’s attorneys faced significant headwinds throughout the transaction but were ultimately able to carefully navigate the deal to a successful conclusion. “The seller required the waiver of the mortgage contingency and our client required financing and at these numbers, we are certainly on alert and working very hard to ensure financing is secured and reliable,” Adam Leitman Bailey told Leaders In The Law. Despite the hurdles, ALPBC was also able to find significant savings in closing costs on behalf of the purchaser by taking advantage of a purchase Consolidation, Extension, and Modification (CEMA), which is a well-known process among experienced real estate professionals that allows purchasers of real property to reduce their mortgage recording tax. Here, ALBPC negotiated a CEMA as part of the final contract of sale which resulted in additional savings of approximately $160,000 in New York State Mortgage Recording Tax. ALPBC also reduced the total amount of a Mansion Tax due by the purchaser by approximately $20,000 by allocating a portion of the purchase price to non-residential office space at the premises. Bailey said he believes New York’s luxury market is actually worse than what is being reported in other media outlets. “Two years ago the market for homes above $8 million seemed to be immune, but not any more,” he said. “The biggest problem I am seeing in the residential sales market stems from the inability of the sellers to face reality as to the proper price the home will sell for in today’s market.”The firm was highlighted in January for securing a $1.2 million judgment on behalf of a real estate brokerage firm that was defrauded of its commission by commercial property buyers in a scheme dating back nearly a decade.


Adam Leitman Bailey, P.C. Fall 2019 Newsletter
    Adam Leitman Bailey, P.C. Fall 2019 Newsletter
Industry Group(s):


“Best Law Firm”
    Adam Leitman Bailey, P.C. has been selected as a “Best Law Firm” by U.S. News and World Report. Fewer than fifteen percent of law firms nationwide receive a U.S. News ranking. The U.S. News and World Report “Best Law Firms” rankings are based on a rigorous evaluation process that includes the collection of client and lawyer evaluations, peer review from leading attorneys in their field, and review of additional information provided by law firms as part of the formal submission process

Chambers and Partners Selected the Firm as a Leading New York Real Estate Law Firm in Chambers USA (2009)
    Adam Leitman Bailey, P.C. was selected by Chambers & Partners to achieve ranking in Chambers USA. Out of over 150,000 lawyers practicing law in New York and hundreds of law firms listed in Chambers, only three firms with fewer than 30 attorneys in New York have been recognized for Real Estate from 2009 through 2018. In one of its annual reviews and bestowments of the award, Chambers has given the following praise: “Interviewees predict that both this firm and their attorneys standing in the marketplace will only continue to grow; and that clients call the firm “a group of extraordinary practitioners who gets great results,” saying: “Their ability to anticipate things before they happen has opened my eyes.” The firms attorneys are “tenacious and confident litigators who are quick-wit- ted in court and respected by the judges.” “Real estate litigation experts at Adam Leitman Bailey, P.C. are valuable to their clients because “you feel like you have a zealous advocate out there working for you, and you never worry about things when they are in their hands,” “Adam Leitman Bailey, P.C. is lauded for their hard work and responsiveness. They are experts in real estate litigation.” Adam Leitman Bailey, P.C. are real estate litigators who have “catapulted onto the scene.” They have been hired to litigate extremely high-profile cases. Sources are highly impressed by their courtroom presence. Chambers and Partners is a highly respected and influential London-based research and publishing company that provides rankings of the leading business lawyers and law firms from around the world. The prestigious guide covers all of the major practice areas at the national level, as well as key specialties within each state. The U.S. national rankings are compiled from the opinions of colleagues and competitors, including general counsel at Fortune 100 companies, high profile entrepreneurs building up their own private corporations and significant purchasers of legal services. Greater weight is given to the opinion of clients, making the guide a truly unbiased resource for the public to evaluate and choose an attorney. Chambers and Partners’ team of 100 highly qualified researchers compile this list each year based on technical legal ability, client service, commercial astuteness, diligence, value for money, prompt delivery and other qualities most valued by the client.

Adam Leitman Bailey, P.C. Named to the (2008)
    Adam Leitman Bailey, P.C. has been named to the Bar Register of Preeminent Lawyers. The Martindale-Hubbell Bar Register is limited to only the most distinguished law practices. For over 90 years, the Bar Register has been a unique guide to the legal community’s most eminent professionals. It includes only those select law practices that have earned the highest rating in the Martindale-Hubbell Law Directory and have been designated by their colleagues as preeminent in their field.

More Super Lawyers and Super Lawyer Rising Stars than any other NYC Real Estate Law Firm with less than 30 attys

Best Law Firm (2014)
    Adam Leitman Bailey, P.C. is Only One of Five New York Real Estate Law Firms with Under 30 Attorneys to be Selected as a 2014 “Best Law Firm” by U.S. News and World Report    In 2014, Adam Leitman Bailey, P.C. is one of five New York Real Estate Law Firms with under 30 attorneys to be selected as a “Best Law Firm” by U.S. News and World Report Adam Leitman Bailey, P.C. is also the only real estate litigation law firm with under 30 attorneys that has received recognition from Chambers and Partners, AV® Martindale-Hubbell rating, Super Lawyers honors, and selection into the Registry of Preeminent Lawyers as well as the American College of Real Estate Lawyers and Best Lawyers. Nine Adam Leitman Bailey, P.C. attorneys became part of the New York metro area real estate attorneys to receive Super Lawyer and Super Lawyer Rising Star honors. Law & Politics magazine identified the top 5 percent of attorneys in the New York Metro area based on an independent survey of nearly 90,000 attorneys. Sixty-two percent of the lawyers selected are from firms with more than 75 attorneys. The list was published by the magazine and in a supplement in The New York Times. Law & Politics performs the polling, research and selection of Super Lawyers in a process designed to identify lawyers who have attained a high degree of peer recognition and professional achievement. Selection for Super Lawyers is particularly noteworthy as ballots for the directory are sent to every lawyer in the state who has been licensed to practice for five years or more. The attorneys who made the list were nominated by their peers and were selected based on peer recognition and professional accomplishments including verdicts and settlements, transactions, representative clients, experience, honors, awards, and a blue ribbon panel review and independent research. Fewer than fifteen percent of law firms nationwide receive a U.S. News ranking. The U.S. News and World Report “Best Law Firms” rankings are based on a rigorous evaluation process that includes the collection of client and lawyer evaluations, peer review from leading attorneys in their field, and review of additional information provided by law firms as part of the formal submission process.

Highest Rating From Martindale Hubbell
    Adam Leitman Bailey, P.C. is proud to receive an “AV” rating from Martindale-Hubbell, the country’s preeminent lawyer rating service. An “AV” rating signifies a firm that has “achieved the highest levels of professional skill and integrity.” Adam Leitman Bailey, John M. Desiderio, Colin E. Kaufman, and Jeffrey R. Metz have received this prestigious honor. Less than 14% of attorneys throughout the entire United States are “AV” Rated. The firm’s “AV” rating is based on peer reviews by members of the Bar and Judiciary. That means that the lawyers and judges with whom we work closely feel that we are among the best in the business not only for our legal skills, but also for the honesty and integrity that characterizes Adam Leitman Bailey, P.C. “Martindale-Hubbell Peer Review Ratings were created in 1887 as an objective tool that would attest to a lawyer’s ability and professional ethics, based on the confidential opinions of other lawyers and judges who have worked with the lawyers they are evaluating,” said Mike Walsh, President and CEO, U.S. Legal Markets at LexisNexis. “The Martindale-Hubbell Peer Review Ratings have remained the most prestigious and widely respected lawyer rating system in the world for over a hundred years.”

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