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Erica F. Buckley
Partner / Leader, Cooperatives & Condominiums / Leader, State Attorneys General
Introduction
Erica F. Buckley leads our Cooperatives & Condominiums and State Attorneys General practices, representing some of New York’s most prolific developers and real estate professionals on a variety of transactional, regulatory, and investigative matters. Erica continues to build upon her background as chief of the Real Estate Finance Bureau of the New York Attorney General’s Office, where she oversaw various regulatory matters, government investigations, and policy initiatives.
My focus
Cooperative and Condominium Developer Services
I represent my developer clients on complex real estate transactions involving cooperatives, condominiums, timeshares, homeowners associations, and community land trusts. I draft offering plans, exemption applications, no-action letters, syndication filings, and submit those documents to the New York Attorney General’s Office on behalf of my clients. I also represent developers and investors on unique transactions involving bulk purchases of shares, mergers, and dissolutions of housing cooperatives, and advise on compliance with applicable laws such as the Martin Act, the Business Corporation Law, and the Housing Stability and Tenant Protection Act.
New York Attorney General Investigations and Dispute Resolutions
A substantial part of my work involves representing clients before the New York Attorney General’s Office who are under investigation for alleged violations of laws under the Martin Act or the Executive Law. I appear before the New York Attorney General’s Office on behalf of clients under investigation, and I assist in brokering workable settlements to close out matters to avoid litigation. When necessary, I also provide guidance to my clients on litigation strategy and facilitate alternative dispute resolutions, harnessing my experience as an Assistant Attorney General charged with closing out scores of disputes among sponsors, boards, and unit owners in cooperatives, condominiums, timeshares, and homeowners associations.
New York City and State Government Relations
My work at the Attorney General’s Office afforded me the opportunity to cultivate strong relationships with city and state government agencies, including the New York Attorney General’s Office, Division of Housing and Community Renewal, the New York City Housing Development Corporation, the New York City Housing Authority, the New York State Housing Finance Agency, as well as the Department of Housing Preservation and Development. I represent developers before these city and state agencies on various regulatory, transactional, and policy matters. I also provide guidance on legislative and policy matters on a broad range of real estate issues and act as a New York State registered lobbyist, appearing before legislators on select occasions.
Cooperative and Condominium Board Services
As special counsel, I advise cooperative and condominium boards on complex legal issues such as major corporate changes (e.g., corporate dissolution), adoption of new governing documents, the procurement of real estate tax benefits, financing, and dispute resolution on matters such as construction defects.
Representative experience
Cooperative and Condominium Developer Services
- Represent sponsor in all stages of condominium conversion of luxury Upper West Side condominium, including offering plan, amendments, contracts, closings, and advice on litigation strategy and public relations
- Represent sponsor in all stages of rental to condominium conversion of luxury Upper West Side condominium, including offering plan, amendments, contracts, closings, and guidance on matters involving rent stabilization, 421-a, and government relations
- Represent sponsor of new construction cooperatives developed under HPD’s Open Door Program in Brooklyn during all stages of conversion, including financing, acquisition, offering plan, amendments, contracts, and closings
- Represent for-profit and not-for-profit sponsors in the conversion of rental properties to cooperative status under HPD’s Affordable Neighborhood Cooperative Program throughout New York City during all stages of conversion, including financing, acquisition, offering plan, amendments, contracts, and closings
- Represent condominium sponsor in all stages of condominium conversion of former historic church to luxury Upper West Side condominium, including offering plan, amendments, contracts, closings, and guidance on matters related to church unit
- Represent national life insurance company as peer review counsel during the conversion of a leasehold property in Battery Park City to cooperative ownership, including review of ground lease, offering plan, and other salient documents
- Represent developer as special counsel on compliance with the Martin Act and Rent Stabilization laws during the buy-out of all shareholders in Park Avenue cooperative
- Represent successor sponsor in bulk condominium purchase during due diligence and all stages of submission of restated offering plan, contracts, closings, and guidance on various board matters
- Represent sponsor in drafting a private placement memorandum for securities offering involving New York City real estate holdings
New York Attorney General Investigations and Dispute Resolutions
- Represent Manhattan condominium sponsor during multi-million-dollar unit owner construction defect dispute in all stages of negotiation of confidential settlement, including closure of investigation before the New York Attorney General’s Real Estate Finance Bureau
- Represent New York real estate brokerage during confidential investigation before the New York Attorney General’s Real Estate Finance Bureau
- Represent real estate professional during parallel civil and criminal investigation before the New York Attorney General’s Real Estate Finance Bureau and Real Estate Enforcement Unit involving alleged violations of the Rent Stabilization laws
- Represent Brooklyn condominium sponsor during unit owner construction defect dispute in all stages of negotiation of confidential settlement, including closure of investigation before the New York Attorney General’s Real Estate Finance Bureau
- Represent New York City property management company during confidential investigation before the New York Attorney General’s Housing Protection Unit involving alleged violations of various tenant protection laws
- Represent equity investor during ownership takeover of rent-regulated properties in ongoing investigation before the New York Attorney General’s Housing Protection Unit involving alleged violations of the Rent Stabilization laws
- Represent upstate property management company during confidential investigation before the New York State Department of State, Division of Licensing, involving real property law violations
New York City and State Government Relations
- Represent landlord in various negotiations before the Battery Park City Authority on ground rent issues
- Represent national not-for-profit organization before the New York Attorney General’s Office on policy matters involving syndications and co-housing
- Represent New York City not-for-profit organization before the New York Attorney General’s Office on policy matters involving the conversion of low-to-moderate income rental conversions to cooperative status
- Represent Mitchell-Lama cooperative before various state lawmakers on opposition to pending legislation, resulting in chapter amendment
- Represent prominent property owner in seeking amendments to the law to permit mixed-income condominium conversions in New York City
Cooperative and Condominium Board Services
- Represent West Village Houses in all stages of its conversion from an HDFC cooperative to market-rate status
- Represent 420-unit Brooklyn Mitchell-Lama cooperative in all stages of conversion under the Article II to Article XI Program
- Represent Upper East Side cooperative in bulk sale of shares to investor
- Represent tenant-owned and controlled Mitchell-Lama rental in all stages of conversion to HDFC cooperative
- Represent HDFC cooperative in amending its corporate documents to adopt new resale policy to ensure compliance with applicable laws in the absence of a regulatory agreement
Looking ahead
The recent New York State budget is already showing signs of jumpstarting real estate in all aspects. Property owners are evaluating the new rental tools and weighing their options against building for-sale projects. I am also seeing more interest in making occupied conversions work. I am delighted to be working on so many cooperative and condominium conversions in New York City. On the enforcement side, the scrutiny from various city and state agencies remains high, and the New York Attorney General’s Office continues to use its vast powers under the Martin Act and Executive Law to zealously investigate and prosecute alleged wrongdoing in the real estate industry. I stand ready to represent my clients in all aspects of the changing landscape.
Insights
- “Benefits of Leasehold Condominiums for Operators of Homeless Shelters,” New York Law Journal, December 2023
- “Good cause eviction protections under the Martin Act,” New York Law Journal, June 2023
- “The Martin Act and Small Building Condo Conversions,” New York Law Journal, March 2023
- “When is Rescission Warranted under the Martin Act,” New York Law Journal, June 2022
- “The Attorney General's Power to Enforce Real Estate Regulations,” New York Law Journal, December 2022
- “The Step-by-Step Process of Condominium Termination,” New York Law Journal, October 2022
- “Gauging Buyer Interest While Complying with the Martin Act,” New York Law Journal, December 2021
- “Practical Implications of Transfer Tax Amendment,” New York Law Journal, September 2021
- “Understanding the Mortgage Recording Tax Credit Deadline Suspension,” New York Law Journal, June 2021
- “Would New Law Allow for Conversion of a Hotel to a Condominium,” New York Law Journal, March 2021
- “When HDFC Shareholders Want to ‘Go Private’” New York Law Journal, December 2020
- “Group of Friends Looking to Buy Condo Should Consider Syndicate Act First,” New York Law Journal, September 2020
- “Relief for Condominium Sponsors Due to the COVID-19 Pandemic,” New York Law Journal, June 2020
- “COVID-19, Executive Orders and Pending Condo Offering Plans,” New York Law Journal, March 2020
- “Clarifying the Law on Escrow Accounts And Certificates of Occupancy,” New York Law Journal, December 2019
- “Martin Act Amendments: Threshold for Effective Offering Plan,” New York Law Journal, September 2019
- “Enforceability of Shortened Period For Suing Condo Sponsor,” New York Law Journal, June 2019
- “‘Grossing Up’ and ‘Seller Concessions’: Advice for Sponsors,” New York Law Journal, March 2019
- “Mitchell-Lama Cooperatives: An Alternative to Privatizing,” Law360, September 2016
- “HDFC Cooperative Conversions: Guidance on When You Can Go Private,” The Cooperator New York, July 2016
Select Presentations
- “An Overview of the Affordable Neighborhood Cooperative Program from A to Z,” NYSBA's CLE Event, October 15, 2024
- “Good Cause Eviction Update: Rights of Tenants,” NYSBA's Good Cause Eviction Update, August 6, 2024
- “Good Cause Eviction: New Legislation Impacting New York's Rental Market,” REBNY Education event, May 22, 2024
- “Affordable Home Ownership: Programs and Financing,” Annual Upstate New York State Affordable Housing Conference, May 16, 2024
- “Open Door and Affordable Homeownership Opportunity Program Overview,” Annual New York State Affordable Housing Conference, May 17, 2023
- “Affordable Home Ownership: Something New,” NYSAFAH's 2022 Annual New York State Affordable Housing Conference, May 19, 2022
- “Educational Session: The Benefits of Community Land Trusts,” Westchester County Housing Opportunity Commission, October 31, 2021
- “The Journey of NYC Affordable Housing,” AABANY Real Estate Committee virtual conference, June 23, 2021
- “Real Estate Opportunities in Upstate New York in Light of COVID-19,” Nixon Peabody Webinar, June 10, 2020
- “AIAI P3 Solutions for Affordable and Workforce Housing,” Webinar, May 28, 2020
- “Shifting Landscape: Understanding Recent Tenant Protection Laws and Initiatives in New York City,” NYU Furman Center Policy Breakfasts, New York, NY, October 15, 2019
- “State Rent Regulation Changes: What Affordable Housing Developers Need to Know,” NYHC Housing Marketing & Rent Law Policy Symposium, New York, NY, September 10, 2019
- “The Attorney General’s Office: A Discussion About New York’s Top Real Estate and Business Regulator,” September 2018
- “Housing Issues in Focus: Evaluating Homeownership Options in Light of the Current City and State Housing Policies,” September 2017
- “The Affordable Housing New York Program (421-a),” Real Estate. The Economy. The Trump Effect. How Changes in Markets, Taxes and Politics are Shaping our Real Estate World Seminar, hosted by NY Metro CCIM Chapter of the CCIM Institute and Stewart Title, May 2017
- “Fair Housing: Still Fair?” 18th Annual New York State Association for Affordable Housing Conference, May 2017
- “Navigating City Approval Processes,” 18th Annual New York State Association for Affordable Housing Conference, May 2017
- “Current Issues in Affordable Housing in New York City: Alternative Model for Permanent Affordability—Community Land Trusts,” New York City Bar Association CLE, May 2017
- “New York’s Condo Market,” Real Estate Finance & Investment Briefing, June 2016
- “The Future of Affordable Housing in New York City 2016,” New York City Bar Association CLE, May 2016
- “Special Briefing for HDFC Shareholders,” Hon. Gale Brewer, Manhattan Borough President, December 2015
In the news
- New York Law Journal
Forming a HOA in New York: Three pathways to meet regulatory requirements
Sep 12, 2024New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, contributed this article discussing regulatory pathways that developers in Upstate New York must follow to comply with state law when forming a homeowners association as part of a residential development.
- Law360
New York City real estate week in review
July 22, 2024Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums practice, and counsel Abigail Patterson, both of the New York City office, are mentioned in this article highlighting firms that guided the largest recent New York City real estate deals in public records. Erica represented Cadman Towers Housing Development Fund Corp. in its HDFC co-op conversion, and Abigial guided 720 E. 216 Housing Development Fund Corp. in its purchase of an apartment building at 722 E. 216th St.
- The Real Deal
Brooklyn co-op escapes Mitchell-Lama with first-ever HDFC conversion
July 3, 2024The following article reports on Brooklyn’s Cadman Towers becoming the first-ever Mitchell-Lama co-op to convert to a Housing Development Fund Corporation (HDFC) co-op under the City of New York’s Article 2 to Article 11 Program. New York City Affordable Housing & Real Estate partner Erica Buckley, leader of the firm’s Cooperatives & Condominiums and State Attorneys General teams, is quoted in the coverage. Erica helped develop the Article 2 to Article 11 Program in her prior role with the state attorney general’s office. In addition to Erica, the NP team working on the Cadman Towers conversion includes associate Natan Szegedi, department attorney Nichole Thomas, senior paralegals Stephen DuRie and Will Truskowski, and Co-op and Condo support specialist Jordan Giordano, all of the AHRE practice and New York City office.
- Habitat Magazine
Cadman Towers is first Mitchell-Lama co-op to convert to an HDFC
July 2, 2024The following article reports on Brooklyn’s Cadman Towers becoming the first-ever Mitchell-Lama co-op to convert to a Housing Development Fund Corporation (HDFC) co-op under the City of New York’s Article 2 to Article 11 Program. New York City Affordable Housing & Real Estate partner Erica Buckley, leader of the firm’s Cooperatives & Condominiums and State Attorneys General teams, is quoted in the coverage. Erica helped develop the Article 2 to Article 11 Program in her prior role with the state attorney general’s office. In addition to Erica, the NP team working on the Cadman Towers conversion includes associate Natan Szegedi, department attorney Nichole Thomas, senior paralegals Stephen DuRie and Will Truskowski, and Co-op and Condo support specialist Jordan Giordano, all of the AHRE practice and New York City office.
- Law360
Real Estate attorneys pore over housing dollars in New York City budget
July 2, 2024This article covers the housing funds in the New York City budget. Affordable Housing & Real Estate deputy practice leader Deborah VanAmerongen and New York City AHRE partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, discuss the $2 billion earmarked for New York City Housing Authority upgrades and affordable housing development and affordable homeownership.
- New York Law Journal
Who enforces New York’s Good Cause law?
June 7, 2024New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, contributed this article discussing the roles of the Division of Housing and Community Renewal and New York Attorney General in enforcing the Good Cause Eviction law.
- Habitat Magazine
Co-ops and condos are exempt from Good Cause Eviction law
This article covers New York state’s recently passed Good Cause Eviction bill and how it will not apply to co-ops and condos. The article references New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, counsel Richard Shore, and associate Julienne Hoffman’s “New York enacts Good Cause Eviction Law” alert. Erica, Richard, and Julienne discuss how the extensive requirements of Good Cause will dramatically alter the rental housing landscape in New York City, and possibly, the state.April 29, 2024 - Law360
New York’s housing incentives, protections draw mixed reviews
April 24, 2024The following article covers housing provisions in the recently-passed New York state budget. Affordable Housing & Real Estate deputy practice leader Deborah VanAmerongen and New York City AHRE partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, are quoted in the coverage, discussing the landmark size of this housing legislation and the budget’s new enforcement unit targeted at helping to resolve Section 8 voucher complaints more quickly.
- New York Law Journal
Legal community divided on New York lawmakers’ ‘landmark’ housing deal
April 23, 2024The following articles cover housing provisions in the recently-passed New York state budget. Affordable Housing & Real Estate deputy practice leader Deborah VanAmerongen and New York City AHRE partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, are quoted in the coverage, discussing the landmark size of this housing legislation and the budget’s new enforcement unit targeted at helping to resolve Section 8 voucher complaints more quickly.
- The City
Brooklyn Heights affordable co-op gets city aid to generate cash via sales
April 19, 2024This article covers the NYC City Council approving a tax break that will help Brooklyn Heights affordable cooperative complex and NP client Cadman Towers become the first Mitchell-Lama co-op to convert to a city-sponsored affordable housing co-op known as a Housing Development Fund Corporation. The approval ensures Cadman Towers will remain affordable for many decades. New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, testified before the Council in support of Cadman Towers’ application. The story was also picked up by Habitat Magazine here.
- City & State New York
The 2024 Trailblazers in Law
March 18, 2024This article profiles New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, and Long Island partner Lindsay Maleson, leader of the Healthcare practice, for being named to the publication’s “2024 Trailblazers in Law” list. The list recognizes a select group of New York-based leaders “who are using their legal training to make the world a better place.”
- New York Law Journal
Ask the former regulator: Condo conversions under amended law for small buildings
March 11, 2024New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, contributed this article recapping the 2022 amendments to the Martin Act and how they may apply to a situation where a husband and wife are looking to convert their building into a condominium.
- Law360
With rising state AG action, BigLaw responds by beefing up
March 11, 2024New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s State Attorneys General and Cooperatives & Condominiums practices, is quoted in this article, which covers current trends within state AG practices at large law firms. Erica discusses factors helping to drive a rise in False Claims Act cases that NP is seeing across multiple states, and notes the formidable role state AGs play in civil enforcement.
- New York Law Journal
Benefits of leasehold condominiums for operators of homeless shelters
Dec 8, 2023In her latest “Ask the Former Regulator” column, New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, discusses the potential benefits of leasehold condominiums for homeless shelter operators, and why the structure may be more beneficial for a nonprofit versus a long-term lease.
- New York Law Journal
Private right of action under the Martin Act—Does it exist?
In her latest “Ask the Former Regulator” column, New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, addresses a question of whether condominium unit owners or non-sponsor-controlled boards can sue sponsors under the Martin Act when sponsors fail to follow through on what was promised in an offering plan.Sep 18, 2023 - New York Law Journal
Good cause eviction protections under the Martin Act
June 15, 2023In her latest “Ask the Former Regulator” column, New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, discusses good cause eviction protections under New York’s Martin Act, and whether non-purchasing tenants in buildings that convert to coops or condos under a noneviction plan are eligible for tenant protections.
- Bisnow
Lawmakers are pushing to empower community land trusts, but harsh New York City reality stands in the way
April 13, 2023New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, is quoted in this article on the debate surrounding community land trusts (CLTs) and the challenges they face in New York. Erica explains why CLTs are not one-size-fits.
- City & State New York
The 2023 Law Power 100
March 20, 2023New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, is featured for being named to the publication’s 2023 “Law Power 100” list, recognizing the most influential legal professionals in New York politics and government. Erica has been included on this list for three consecutive years.
- New York Law Journal
The Martin Act and small building condo conversions
March 13, 2023In her latest “Ask the Former Regulator” column, New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, discusses how a recent amendment to New York State’s Martin Act that eases restrictions on co-op and condo conversions could impact small building owners.
- Habitat Magazine
New law eases conversion of rentals into co-ops and condos
Dec 29, 2022New York City Affordable Housing & Real Estate partner Erica Buckley, leader of the firm’s Cooperatives & Condominiums team, is quoted throughout this article, which covers the recently signed amendment to New York’s Martin Act, easing restrictions on co-op and condo conversions.
- New York Law Journal
The Attorney General’s power to enforce real estate regulations
Dec 21, 2022In her latest “Ask the Former Regulator” column, New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, explains the powers bestowed upon the New York Attorney General when it comes to regulating real estate offerings, specifically through the lens of the Martin Act and the New York Executive Law.
- Law360 Real Estate Authority
Housing needs poised to drive NY policy talks in new year
Dec 19, 2022This article discussing possible New York state real estate policies and regulations to watch in the coming year quotes New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums and State Attorneys General practices, on the likelihood of a new tax exemption to replace New York City’s 421a tax abatement, which expired in June.
- New York Law Journal
The step-by-step process of condominium termination
Oct 4, 2022In her newest “Ask the Former Regulator” column, New York City Affordable Housing & Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley breaks down the process of carrying out condominium terminations in New York City.
- New York Law Journal
When is rescission warranted under the Martin Act?
In her newest “Ask the Former Regulator” column, New York City Affordable Housing & Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley addresses a question about when rescission is warranted under the Martin Act—New York’s blue sky law— in relation to the offer and sale of new construction condominium units.June 28, 2022 NYC housing tax breaks expiration portends unclear future
This article covering the expiration of New York’s 421a housing construction tax break quotes New York City Affordable Housing & Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley, who explains why this is a challenging time to let the exemption expire and what developers can do in in the interim until New York state lawmakers reconvene for the next legislative session in January.June 17, 2022- Bisnow
The 421a apartment development tax break is officially dead
New York City Affordable Housing & Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley is quoted in the following articles covering the expiration of New York’s housing construction tax break 421a. Erica provides insight into what could happen next for both developers and New York state lawmakers.June 15, 2022 - The Real Deal
Dead and buried: 421a is gone. Will it ever return?
New York City Affordable Housing & Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley is quoted in the following article covering the expiration of New York’s housing construction tax break 421a. Erica provides insight into what could happen next for both developers and New York state lawmakers.June 15, 2022 - Brick Underground
Everything you need to know about combining apartments in NYC
New York City Affordable Housing & Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley is quoted throughout this article, providing practical input on differences in the process of combining units in co-op and condo buildings.June 1, 2022 - Crain’s New York Business
Op-ed: Five steps to make 2022 the year of the homeowner
New York City Affordable Housing & Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley co-authored this op-ed urging New York state legislators to pass bills that would help increase home ownership and permanently safeguard affordable units that would otherwise be subject to loss through expiring contractual agreements. The article provides five common-sense suggestions to create a fairer and more robust affordable housing landscape.May 13, 2022 - New York Law Journal
Coops, condos and community land trusts: What is permissible in New York?
In her newest “Ask the Former Regulator” column, New York City Affordable Housing & Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley discusses the growing use of community land trusts to build more permanently affordable housing and the types of development that can be built on this land, along with the related filing requirements in New York.March 31, 2022 - City & State New York
The 2022 Law Power 100
New York City Affordable Housing & Real Estate partner Erica Buckley, leader of NP’s Cooperatives & Condominiums team, is included in this year’s Law Power 100 list of the most influential legal professionals across New York. The article features an overview of her practice and her past experience at the New York attorney general’s office.March 7, 2022 - The City
Progressives and Hochul battle over fate of $1.7B developer tax break
This article covers the political clash over whether to renew New York City’s long-held tax break for rental housing development, which expires in June. New York City Affordable Housing & Real Estate partner Erica Buckley, who leads the Cooperatives and Condominiums team, is quoted for her outlook on Governor Hochul’s proposed change that would allow cooperatives and condominiums to once again qualify for the tax break if they satisfy certain affordability criteria.Feb 1, 2022 - Habitat
Affordable co-ops and condos could be coming to New York
This article, covering New York Governor Kathy Hochul’s proposal to replace a soon-to-expire property tax incentive program with the new Affordable Neighborhoods for New Yorkers (ANNY), quotes and links to a recent client alert written by Cooperatives & Condominiums team leader and partner Erica Buckley and department attorney Nichole Thomas, both of the Affordable Housing & Real Estate group in New York City.Jan 24, 2022 - Real Estate Finance Journal
NY ends the state of emergency for real estate securities developers
New York Affordable Housing & Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley contributed this article offering guidance to developers in New York City following the end of the state of disaster emergency due to the COVID-19 pandemic. The article covers the impacts for developers and the requirements they will need to comply with going forward.Jan 1, 2022 - New York Law Journal
Gauging buyer interest while complying with the Martin Act
New York Affordable Housing & Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley contributed this article on the rules that govern out-of-state developers when offering and selling condos to New York residents. The article offers best practices for marketing condos in New York while staying compliant with the state’s requirements.Dec 23, 2021 - Law360
Kramer Levin, Nixon aid $198M NYC debt restructuring
This article on the debt restructuring of 200 Amsterdam, a new luxury condo tower in the Upper West Side neighborhood of Manhattan, includes New York City partner and Cooperatives & Condominiums practice team leader Erica Buckley for representing Amsterdam Avenue Redevelopment Associates as condo counsel. The article also quotes Erica on how the existing loan has to be broken down by unit when selling a condo unit.Nov 18, 2021 - New York Law Journal
Practical implications of transfer tax amendment
New York City Affordable Housing & Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley contributed this article discussing New York State’s amendment to its estate transfer tax statute, its elimination of “grossing-up” which historically raised the total amount paid by the purchaser, and the amendment’s implications for attorneys of project sponsors.Sep 23, 2021 - Bloomberg Law
Moving away from stress: Fleeing the big city for small town life
New York City Affordable Housing & Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley contributed this article on the efficiencies she gained while working from her upstate New York home during the pandemic, and how the new norms have allowed her to achieve better work-life balance while simultaneously expanding her practice.Sep 9, 2021 - Crain’s New York
How the New York AG can prevent a Surfside disaster in the Big Apple
Cooperatives & Condominiums team leader and New York City Affordable Housing & Real Estate partner Erica Buckley co-wrote this op-ed analyzing New York’s Martin Act and the ways in which the state’s attorney general can modify current regulations in order to prevent the kind of apartment building collapse that devastated Surfside, Florida.Aug 12, 2021 - New York Law Journal
Understanding the mortgage recording tax credit deadline suspension
Cooperatives & Condominiums team leader and New York City Affordable Housing & Real Estate partner Erica Buckley contributed this column on New York state’s mortgage recording tax credit, which offers relief to real estate professionals, and how the governor’s executive order suspending the deadline to take advantage of the credit will alleviate some of the marketplace disruptions caused by COVID-19.June 23, 2021 - Law360
Nixon Peabody Co-Op Leader Sees Strong Residential Sectors
Cooperatives and Condominiums practice team leader and New York City partner Erica Buckley is featured in this Q&A article on her outlook for New York’s affordable and middle-market residential sectors during the pandemic. This story is part of a series spotlighting female real estate leaders during Women’s History Month.March 19, 2021 - City & State
The 2021 Law Power 100
Cooperatives & Condominiums practice team leader and New York City Affordable Housing & Real Estate partner Erica Buckley is included in this list of attorneys influencing New York’s political and government spheres.March 16, 2021 - New York Law Journal
Would new law allow for conversion of a hotel to a condominium?
In the latest installment of her “Ask the Former Regulator“ column, Cooperatives & Condominiums team leader and New York City Affordable Housing & Real Estate partner Erica Buckley discusses the Multiple Dwelling Law and the proposed law to allow the conversion of a hotel to a for-sale condominium.March 8, 2021 - Massachusetts Lawyers Weekly
Law firm forms practice group to tackle state AG probes
This feature article on the formation of NP’s State Attorneys General team quotes Boston Government Investigations & White Collar Defense partners Bill Codinha and Rob Fisher throughout the story on the team’s work both in Massachusetts and across the country. The article also quotes Litigation chair Scott O’Connell and mentions the team’s co-leaders, Affordable Housing & Real Estate partner Erica Buckley and Government Investigations & White Collar Defense partner Travis Hill, both in New York City.Feb 4, 2021 - Bloomberg Law
Wake up call
The launch of the firm’s State Attorneys General practice team is included in this roundup of notable legal news. The team is led by New York Affordable Housing & Real Estate partner Erica Buckley; New York partner Travis Hill and Boston partners Bill Codinha and Rob Fisher, of the Government Investigations & White Collar Defense group.Feb 1, 2021 - New York Law Journal
New York Lawyers for the Public Interest Names Anthony Karefa Rogers-Wright as Director of Environmental Justice
The launch of the firm’s State Attorneys General practice team is included in this roundup article of notable legal news. The team is led by New York Affordable Housing & Real Estate partner Erica Buckley; New York partner Travis Hill and Boston partners Bill Codinha and Rob Fisher, of the Government Investigations & White Collar Defense group.Jan 28, 2021 - Crain’s New York
Notable Women in Law
Cooperatives & Condominiums team leader and New York City partner Erica Buckley is featured in this article for being named one of the city’s “Notable Women in Law“ for the third year in a row.Dec 21, 2020 - New York Law Journal
When HDFC Shareholders Want To 'Go Private'
In the latest installment of her “Ask the Former Regulator“ column, New York City Affordable Housing and Real Estate partner Erica Buckley discusses whether a housing development fund company that operates as a housing cooperative can go private and what factors shareholders need to consider.Dec 11, 2020 - WRCN 103.9 FM Long Island Radio
Real Estate Syndications - What You Need to Know
Cooperatives & Condominiums practice team leader and New York Affordable Housing & Real Estate partner Erica Buckley was featured in this radio segment focusing on the Martin Act (one of the most exhaustive securities laws in the country), New York State filings and compliance, and investigation and enforcement by the New York Attorney General.Oct 4, 2020 - New York Law Journal
Relief for Condominium Sponsors Due to the COVID-19 Pandemic
July 16, 2020In her latest “Ask the Former Regulator” column, New York City Affordable Housing & Real Estate partner Erica Buckley examines some of the limited relief afforded to condominium sponsors under the recent executive orders signed by Governor Andrew Cuomo.
- Albany Times Union
On the Move
This roundup of notable executive news includes the appointment of New York City Cooperatives & Condominium practice team leader and partner Erica Buckley to co-chair of the New York State Bar Association’s Condominiums & Cooperatives Committee.June 20, 2020 - The Cooperator
From Mitchell-Lama Rental, to HDFC Co-op, and Now to Free-Market
This feature article on New York City’s first-ever Housing Development Fund Corporation cooperative dissolution and reconstitution to free-market status quotes Cooperatives & Condominiums practice team leader Erica Buckley and mentions Affordable Housing & Real Estate counsel Ruben Ravago, both of New York City, for advising West Village Houses.June 16, 2020 - Habitat Magazine - June 2020
West Village Houses Co-op Transitions From HDFC to Market Rate
June 8, 2020This feature article on New York City’s first-ever Housing Development Fund Corporation cooperative dissolution and reconstitution to free-market status quotes Cooperatives & Condominiums practice team leader Erica Buckley and mentions Affordable Housing & Real Estate counsel Ruben Ravago, both of New York City, for advising West Village Houses.
- Crain’s New York
City's tax shortfall stems from the lack of homeownership
Cooperatives & Condominium practice team leader Erica Buckley contributed this op-ed on New York City’s real estate landscape during the pandemic, offering her outlook and appeal for affordable housing and home ownership.April 29, 2020 - Habitat Magazine -March 2020
Caution required if co-op and condo boards enlist volunteers
New York City Affordable Housing and Real Estate partner Erica Buckley and counsel Ruben Ravago co-wrote this contributed article, based on their NP client alert, about the key issues condo boards and co-ops must consider before enlisting the assistance of volunteers during a pandemic.March 26, 2020 - New York Law Journal
COVID-19, executive orders and pending condo offering plans
In her latest “Ask the Former Regulator” column, New York City Affordable Housing and Real Estate partner Erica Buckley explains that the functions of New York government, including the Attorney General’s Real Estate Finance Bureau, are still in operation during the coronavirus shutdown, as most state employees continue to work remotely.March 23, 2020 - City and State
The 2020 Law Power 100
New York City Affordable Housing and Real Estate partner Erica Buckley appears on this City and State 2020 Law Power List, recognizing New York’s most politically powerful lawyers.March 9, 2020 - Brick Underground
Everything you need to know about combining apartments in NYC
This article features New York City Affordable Housing & Real Estate partner Erica Buckley talking about the process for condo and co-op owners who may want to buy a second unit in the same building to combine with their current home.Feb 19, 2020 - The Real Deal
Cuomo veto spares condos, co-ops from paying prevailing wage
New York City Affordable Housing and Real Estate partner Erica Buckley talks about Governor Andrew Cuomo’s veto of a bill that would’ve jeopardized property tax abatements for condos and co-ops that do not pay a prevailing wage to their building service workers.Feb 13, 2020 - New York Law Journal
Clarifying the Law on Escrow Accounts and Certificates of Occupancy
In her latest “Ask the Former Regulator” column, New York City Affordable Housing and Real Estate partner Erica Buckley answers a question from a condominium sponsor in New York City who is beginning to sell condo units with only a temporary certificate of occupancy.Dec 18, 2019 - New York Law Journal
Martin Act amendments: Threshold for effective offering plan
In the latest installment of her “Ask the Former Regulator” column, New York City Affordable Housing and Real Estate partner Erica Buckley analyzes new legislative language that changes the threshold for effective offering plans on rental conversions.Sep 30, 2019 - The Real Deal
Inside Bernie Sanders’ $2.5T housing plan
New York City Affordable Housing and Real Estate partner Erica Buckley comments on presidential candidate Bernie Sanders’ proposed plan for increased federal funding for community land trusts, an arrangement in which nonprofits acquire land as a permanent location for affordable housing.Sep 17, 2019 - Habitat
Co-op and condo tax abatements could be tied to staff pay
This story quotes New York City Affordable Housing and Real Estate partner Erica Buckley on a controversial new bill headed to Governor Andrew Cuomo’s desk. The bill would require co-op and condo owners to pay their nonunion employees more than twice the minimum wage to qualify for a key tax abatement.July 11, 2019 - Crain’s New York
Unintended result of new rent law may be less home ownership
New York City Affordable Housing & Real Estate partner Erica Buckley wrote this op-ed outlining how a new law designed to protect tenants may actually reduce home ownership opportunities in the city, due to a provision making condo conversions more difficult.July 9, 2019 - The Real Deal
New York Rent Law Sparks Response from Real Estate Industry
This article features New York City Affordable Housing & Real Estate partner Erica Buckley discussing a new statewide housing law that could have a major impact of landlords’ ability to move forward with condo conversions.July 1, 2019 - New York Law Journal
Enforceability of shortened period for suing condo sponsor
New York City Affordable Housing and Real Estate partner Erica Buckley wrote this contributed column on the statute of limitations governing the length of time unit owners and condo boards have to sue a condo sponsor. The column is part of Erica’s regular series, “Ask the Former Regulator.”June 4, 2019 - City & State
The 2019 Law Power 50
New York City Affordable Housing and Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley is included in this inaugural list of the 50 most influential lawyers in New York state.May 13, 2019 - New York Law Journal
‘Grossing Up’ and ‘Seller Concessions’: Advice for Sponsors
Cooperatives & Condominiums Practice Team Leader Erica Buckley, based in New York City, authored this “Ask the Former Regulator” column. The article discusses “grossing up” and “seller concessions” and what scenarios are permissible under the Martin Act in New York.March 1, 2019 - The Real Deal
Number games: How developers inflate the height of their penthouses
New York City Affordable Housing & Real Estate partner Erica Buckley is quoted in this story on the common practice of misnumbering residential floors in luxury condo developments to give the impression of a higher position in the building.Feb 19, 2019 - Crain’s New York
2019 Notable Women in Law
New York City Affordable Housing & Real Estate partners Erica Buckley and Tatiana Gutierrez are featured on this annual list honoring the top women in law in New York.Jan 1, 2019 - The Real Deal
What would Tish James do?
New York City Affordable Housing & Real Estate partner Erica Buckley is quoted extensively in this article about how a win for Democratic attorney general candidate Tish James could impact the city’s real estate industry.Oct 1, 2018 - The Real Deal
What would Attorney General Letitia James mean for real estate?
New York City Affordable Housing and Real Estate partner Erica Buckley is quoted in this article about how New York real estate will evolve if nominee Letitia James becomes the next attorney general.Sep 19, 2018 - The Real Deal
Behind the AG finance bureau’s master plan
New York City Affordable Housing and Real Estate partner Erica Buckley provides commentary in this article is about the impact of the New York Attorney General Real Estate Finance Bureau’s work to modernize operations, strengthen enforcement and broaden its scope.Sep 1, 2018 - Habitat
Size matters: fishy ways of measuring of co-ops and condos
New York City affordable housing and real estate partner Erica Buckley is quoted in this article on the varying standards for measuring square footage in for-sale units in New York City.June 18, 2018 - The Real Deal
At star-studded 443 Greenwich, condos are smaller than advertised
New York City affordable housing and real estate partner Erica Buckley is quoted in this article discussing the debate within the city’s real estate market over how to measure the square footage of condominium units and co-ops.June 13, 2018 - The Real Deal
Sizing up the AG contenders
New York City affordable housing and real estate partner Erica Buckley, who was formerly chief of the Real Estate Finance Bureau in the state attorney general’s office, is quoted in this story for her perspective on how a new leader will change the office’s approach to housing law.June 1, 2018 - American Lawyer
Nixon Peabody beefs up NY real estate group with new partner, new practice
Affordable housing and real estate partner Erica Buckley and project finance and public finance partner Roddy Devlin are both quoted in this article announcing an expansion of our real estate practice in New York City.May 24, 2018 - The Villager
Demo Plan Collapses as WV Houses Go Market Rate
New York City affordable housing partner Erica Buckley is mentioned in this article for representing the board of the West Village Houses complex as it transitions from an HDFC co-op to a normal co-op.March 9, 2018 - Habitat
City Offers a $250 Million Carrot for Mitchell-Lamas
In this article on New York City’s Mitchell-Lama affordable housing program, New York City affordable housing partner Erica Buckley is quoted on whether an infusion of cash from the mayor’s office can dissuade co-op owners who want to sell at market rates.Jan 24, 2018 - Habitat
City Offering $250 Million to Mitchell-Lamas to Stay Put
This article quotes New York City affordable housing partner Erica Buckley regarding Major Bill de Blasio’s $250M offering plan to preserve Mitchell-Lamas in the city.Nov 1, 2017 - Habitat
The incredible shrinking Mitchell-Lama program
New York affordable housing partner Erica Buckley is quoted in this article about the state of the Mitchell-Lima affordable housing program in New York.Sep 7, 2017 - Crain’s New York
The war inside Trump Village
New York City affordable housing partner Erica Buckley provides commentary on the complications that arise when apartments exit affordable housing programs.Aug 21, 2017 - The Cooperator
HDFC's Proposed Regulations Shake Up Co-op Shareholders
New York City affordable housing partner Erica Buckley provides third-party commentary about a proposed regulation by New York City’s Housing Preservation and Development department (HPD).July 27, 2017 - Law360
The laterals audit: tax attorney moves in June
The following coverage includes the arrival of New York City affordable housing partner Erica Buckley to Nixon Peabody.June 30, 2017 - Real Estate Weekly
Who’s news
The following coverage includes the arrival of New York City affordable housing partner Erica Buckley to Nixon Peabody.June 30, 2017 - The Real Deal
HPD says new 421a “undermines” parts of inclusionary housing program
New York City affordable housing partner Erica Buckley is quoted in this article about a new rule change proposed by the Department of Housing Preservation and Development that will limit how air rights are distributed to developers.June 29, 2017 - The Deal
Movers & Shakers
June 12, 2017This coverage includes the arrival of New York City affordable housing partner Erica Buckley to Nixon Peabody.
- Law360
Nixon Peabody adds affordable housing pro from Stroock
June 8, 2017This feature discusses how Erica’s extensive experience, particularly in 421-A tax exemptions and the Martin Act, having previously served as the chief regulator of the Real Estate Finance Bureau of the NY Attorney General’s office, will bolster NP’s affordable housing practice.
- New York Law Journal
On the move
June 8, 2017This feature discusses how Erica’s extensive experience, particularly in 421-A tax exemptions and the Martin Act, having previously served as the chief regulator of the Real Estate Finance Bureau of the NY Attorney General’s office, will bolster NP’s affordable housing practice.
- Bloomberg BNA
People on the move
This article mentions New York affordable housing partner Erica Buckley’s arrival at Nixon Peabody.June 6, 2017 - Affordable Housing News
People on the move
This article mentions New York affordable housing partner Erica Buckley’s arrival at Nixon Peabody.June 6, 2017
Admitted to practice
New York
U.S. District Court, Eastern District of New York
Education
City University of New York School of Law, J.D.
State University of New York at Binghamton, B.A.
Professional activities
- Erica is a member of various industry organizations and holds leadership positions as co-chair of the New York State Bar Association Committee on Condominiums and Cooperatives
- Co-chair of the Real Estate Board of New York Housing Committee
- Erica was appointed to the New York State Bar Association House of Delegates
- Active supporter of Habitat for Humanity New York City and Westchester, where she is a member of the Leadership Council.
Recognition
Erica has received various accolades during her career, including:
- City and State “Law Power 100” lists for 2023, 2022 and 2021, which recognizes the state’s most politically powerful lawyers
- In 2019, Erica was awarded the Habitat for Humanity Leadership Volunteer Habby Award
- Recognized by City & State New York as one of the state's “Power Law 50” attorneys which recognizes 50 of New York’s most influential attorneys outside of government who demonstrate and command an in-depth understanding of the laws governing their practices
- She was also included in the Crain’s New York Business inaugural 2018 list recognizing “Leading Women Lawyers in New York City,“ and has since been recognized on the Crain’s 2021 list of “Notable Women in Law.”
Insights And Happenings
View AllProfessionals in the Practice Area
View AllRichard J. Shore
Counsel- New York
- Office:+1 212.940.3050Mobile:+1 917.435.7997
- rshore@nixonpeabody.com
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