NYREJ Publishes a Review of 2018 by Thomas Kearns

New York Real Estate Journal recently interviewed Olshan Real Estate partner Thomas Kearns in an article entitled “Year in Review 2018.” On one of his most notable professional achievements of the year, Mr. Kearns said, “We closed on a very complex agreement representing a ground lessor of a significant parcel in Brooklyn. The agreement will allow the developer to include our client’s parcel into a larger assemblage and will transform the owned interest from land to commercial condominium units. The planned building will be the second tallest in Brooklyn when completed.” He went on to enumerate some of the market trends that he expects will affect his practice in the upcoming year, which include rising interest rates, a continued interest in ground leases, and opportunities in a mixed luxury residential market. “The new opportunity zones created under this year’s tax revisions have created a new method for investors in real estate in emerging markets to realize tax savings,” he explained, commenting on an unexpected professional challenge of 2018. In 2019, Mr. Kearns resolves “to continue to remain in sync and even ahead of the tech revolution, which has been transforming both the real estate industry and our law practice.”