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Introduction
Abigail Patterson is a member of Nixon Peabody’s Affordable Housing practice group, representing nonprofit and for-profit owners and developers of affordable housing in all aspects of the development process, from acquisition and construction loan closings, to operations and regulatory matters.
My focus
My practice focuses on affordable housing transactions utilizing a range of federal, state and municipal programs. In my prior role as general counsel for the Housing Partnership Development Corporation, I gained substantial experience with affordable housing incentives such as Article XI, Affordable New York and Inclusionary Housing, as well as advising my client on nonprofit governance and best practices.
Looking ahead
As construction costs rise, available land becomes scarce and federal subsidies are under threat, the demand for affordable housing in New York is higher than ever. In response, owners and developers are seeking novel approaches to affordable housing development and, particularly for nonprofit clients, joint ventures with other nonprofits, religious organizations, for-profit developers and community-based organizations, can build capacity and access to financing that might not otherwise be available. While these structures present additional complexity, they also have the potential to capitalize on the respective strengths of project partners, and ultimately to create more housing for hardworking New Yorkers.
On the preservation front, recent changes to the rent stabilization law in New York will have a profound effect on the operation of many properties throughout the city and state. I look forward to advising clients on leveraging tax abatements and exemptions to devise solutions for the ongoing viability of their properties.
Insights
- “The Latest on Real Property Tax Exemptions for Affordable Housing,” Annual New York State Affordable Housing Conference, May 17, 2023 (Speaker)
- “The Ins and Outs of Article XI,” NYSAFAH's 2022 Annual New York State Affordable Housing Conference, May 18, 2022 (Panelist)
In the news
- Law360
New York City real estate week in review
Aug 19, 2024This article highlights firms that guided the largest recent New York City real estate deals in public records. New York City Affordable Housing & Real Estate counsel Abby Patterson is mentioned for representing buyer 4427 WPR Housing Development Fund Corp. in its $23.6 million purchase of 4427 White Plains Road.
- 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.
- Law360
Nixon Peabody nets 40-year tax exemption for NYC property
July 5, 2023This article highlights NP for negotiating a 40-year real estate tax exemption with New York City’s Department of Housing Preservation and Development on behalf of client Clipper Realty Inc. for its 2,500-unit Flatbush Gardens apartment complex in Brooklyn. The article mentions partner and Chief Innovation Officer Aaron Yowell and counsel Abigail Patterson, both of the Affordable Housing & Real Estate practice and New York City office, for representing Clipper Realty in the deal.
- New York Law Journal
Lawyers on the Move
Long Island partner Tara Daub is included in this column of notable legal moves in New York for her appointment to Labor & Employment practice group leader. Long Island Labor & Employment counsel David Tauster; New York City counsels Julia Casteleiro and Abby Patterson, and Long Island counsel Mike Webb, all in the Affordable Housing & Real Estate group; and Buffalo Complex Commercial Disputes counsel Erik Goergen are also included for their promotions to counsel.Feb 25, 2021 - Bloomberg Law
Wake Up Call
This roundup of notable legal industry news and people moves includes Nixon Peabody’s promotion of 12 attorneys to counsel.Feb 17, 2021 - Affordable Housing Finance
People on the Move
This roundup of executive moves in the affordable housing space includes the arrivals of two New York City associates, Abigail Patterson and Richard Shore, both of the Affordable Housing and Real Estate practice group.Aug 8, 2019
Admitted to practice
New York
New Jersey
Education
Brooklyn Law School, J.D.
Columbia University, B.A.
Professional activities
- New York City Bar Association Committee on Housing and Urban Development
- Women in Housing and Finance of New York City
Recognition
- Received a Best Lawyers: Ones to Watch 2023 recognition in the field of Real Estate Law.
Insights And Happenings
View AllProfessionals in the Practice Area
View AllAaron J. Yowell
Partner
Chief Innovation Officer- New York
- Office:+1 212.940.3161
- ayowell@nixonpeabody.com
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