Firm / Organisation

Duval & Stachenfeld LLP

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This content is provided by Duval & Stachenfeld LLP.

Managing Partner: Terri L. Adler
Chairman: Bruce Stachenfeld
Number of partners: 22
Number of lawyers: 45
Languages: English

Firm Overview:
Duval & Stachenfeld LLP is known for regularly handling the most complex and sophisticated real estate transactions throughout the United States as well as globally. The firm distinguishes itself with its pure play focus on real estate law and has one of the largest corporate real estate law practices in New York City.
Contact: Terri L. Adler
Email: [email protected]

Main Areas of Practice:
-Bankruptcy, Creditors’ Rights & Business Reorganizations
-Joint Ventures/Corporate Real Estate
-Land Use
-Opportunity Zones
-Real Estate
-Tax Exempt Organization

Pure Play in Real Estate Law:
Duval & Stachenfeld’s most critical and distinguishing characteristic is that the firm decided to focus solely on its strength – real estate. Accordingly, the firm is known as the Pure Play in Real Estate Law®, and has positioned all areas of the firm to focus primarily on real estate. For example, the corporate practice is corporate real estate – the litigators are real estate litigators – the tax practice is real estate and cross- border tax – and so on. Everything at Duval & Stachenfeld is built around real estate.

The firm’s client base includes private equity funds, sovereign wealth funds, family offices, lenders, developers, REITs, insurance companies, servicers, and other players. Sample clients include: Angelo, Gordon & Co.; ATCO Properties; Barings; CPG Real Estate; Cerberus Capital Management; Colony NorthStar, Inc.; EQ Office; Jamestown Properties; A Major Life Insurance Company; Oz Management; RXR Realty; Savanna Fund; Toll Brothers; Westcore Properties; and one of the largest Middle-Eastern Sovereign Wealth Funds.

Joint Venture Expertise:
The firm is well regarded for its expertise in joint ventures. Indeed, the firm is one of the top players in the real estate world in this area. Since the firm’s inception in 1997, D&S has worked on over 3,000 transactions, the great majority of which took place in a co-venture structure. Most of these transactions had complex structuring issues and negotiations with intricate documentation.

Platforms and Corporate Real Estate Expertise:
Over time the firm’s joint venture practice has evolved into a so-called “corporate real estate transactions” practice, which includes complex programmatic joint ventures, platform transactions and major recapitalizations and restructurings. In this area, the firm’s most high-profile transaction was handling client NorthStar’s preferred and common equity investment in major New York City developer, RXR Realty. This transaction encompassed 108 properties in New York City and the surrounding areas with a market capitalization of over US$8B.

Finance Expertise:
The firm has developed a strong reputation for its expertise in real estate finance matters (from the points of view of both the borrower and the lender). Global Cross-Border Expertise: The firm has been responsible for transactions throughout many places in the world. This includes virtually all U.S. jurisdictions, as well as Europe, Asia, Central America and the Caribbean.

Tax and ERISA Expertise:
The firm’s Tax Practice Group is co-chaired by Stephen Land and Jessica Millett. Most recently, Mr. Land served as the Chair of the New York State Bar Association Tax Division, which is a position held by the most pre-eminent tax lawyers. Ms. Millett started her career at Linklaters working with Mr. Land handling all aspects of cross-border transactions. Of late, she has been at the forefront of the rapidly burgeoning area of Opportunity Zone transactions.

Opportunity Zone Expertise:
The firm is the industry leader in the opportunity zone space. Ms. Millett is leading this initiative with managing partner and real estate chair, Terri Adler. The firm is handling cutting edge issues in major opportunity zone transactions, representing clients in setting up Qualified Opportunity Fund structures, and advising numerous clients in determining their Opportunity Zone strategies. In addition to being in touch with the U.S. Treasury Department on a consistent basis and speaking at various conferences and other trade organizations, Ms. Millett was named as one of the Top 50 People Shaping the Future of Opportunity Zones in Opportunity Zone Magazine.

Helping Clients Grow Their Businesses:
D&S spends a great deal of time focused on its core mission “to help our clients grow their businesses”. This is a unique value proposition that distinguishes D&S from other law firms. Instead of focusing only on providing legal services to clients, the firm also spends a lot of time on what clients often need more than anything else; namely, assistance in growing their real estate businesses successfully. This includes, by way of example, helping clients find transactions, financial partners and other counterparties.