Ground Rules: Behind the Scenes of Real Estate Law & Industry Leaders

Inside New York Loft Law with Michael Bobick

In this episode of Ground Rules, partner and host David Shamshovich [https://bbgllp.com/attorney/david-shamshovich/] sits down with BBG partner Michael Bobick [https://bbgllp.com/attorney/michael-bobick/] to unpack New York’s Loft Law [https://bbgllp.com/practice-area/nyc-loft-law/], a complex and often misunderstood legal regime governing the conversion of former commercial and manufacturing buildings into residential use. Michael draws on his years of experience at the New York City Loft Board and in private practice to explain how the Loft Law originated, how the Loft Board functions, and what it means for owners and tenants navigating the legalization process. The conversation covers interim multiple dwellings, rent regulation, tenant protections, buyouts, and the realities of legalizing occupied buildings. David and Michael also discuss two significant proposed rule changes currently before the Loft Board, including revisions to primary residence determinations and new requirements tied to seven‑B compliance and certificates of occupancy. The episode offers insight into how these changes may affect owners, landlords, and practitioners, and why Loft Law remains one of the most consequential and evolving areas of New York real estate law. * 03:55 – Origins and Purpose of the Loft Law Historical context behind the Loft Law, including artist live-work spaces, tenant advocacy, and legislative intent. * 08:45 – What Qualifies as an Interim Multiple Dwelling (IMD) Coverage requirements, window-period occupancy, and how buildings become subject to the Loft Law. * 13:50 – Legalization While Tenants Remain in Place How owners are required to legalize buildings around existing tenants, including relocation strategies and practical challenges. * 19:30 – Tenant Protections, Rent Regulation, and Nonpayment Issues Statutory tenancies, rent freezes, and why rent collection becomes a central point of conflict during legalization. * 26:10 – The Role of the Loft Board and OATH How hearings, determinations, reconsiderations, and Article 78 appeals function within the Loft Law framework. * 33:40 – Buyouts, Deregulation, and Challenges to Loft Rights How loft buyouts work, why they are increasingly scrutinized, and how prior buyouts can be reopened. * 40:55 – Transition from Public Service to Private Practice Michael’s move from the Loft Board to BBG and how that experience informs his current practice. * 47:30 – Proposed Rule Changes Affecting Primary Residence Expansion of acceptable proof of primary residence and the implications for owners and tenants. * 54:40 – Article 7B Compliance and Certificate of Occupancy Enforcement End of self-certification, CO timelines, escalating fines, and practical hurdles owners face. * 1:04:25 – What Owners Should Be Doing Now Guidance on good-faith compliance, documenting efforts, and minimizing enforcement risk.

Foundations of Leadership with Jeff Goldman and Dan Altman

In this inaugural episode of Ground Rules, partner and host David Shamshovich [https://bbgllp.com/attorney/david-shamshovich/] sits down with BBG’s co‑managing partners, Jeffrey L. Goldman [https://bbgllp.com/attorney/jeffrey-l-goldman/] and Daniel T. Altman [https://bbgllp.com/attorney/daniel-t-altman-nyc-commercial-real-estate-attorney-transactional-leader/], to explore the unwritten rules of real estate through the lens of their decades of experience. Jeff and Dan share how they found their paths into law and the evolution and growth of BBG under their leadership. They also break down how they’ve responded to market crises and legislative changes, discuss current topics front of mind for our clients including the new Mayor, COPA, and 881 agreements, and offer their insights into what drives BBG’s culture and strategy. Show Notes & Topics: * 00:49 – How Jeff and Dan Got Their Start, and What Shaped Their Rise in the Industry Jeff and Dan share their paths to law school and entries into real estate law. * 05:10 – Litigation vs. Transactions: Control, Risk, and Client Strategy Key differences and overlap between courtroom advocacy and dealmaking. * 08:52 – The Growth of BBG: Market Cycles and Strategic Expansion Organic growth through economic shifts, and responding to client needs. * 16:43 – COVID’s Impact on Leasing and Tenant Relations Lease restructures, rent deferrals, force majeure disputes, and creative problem-solving. * 19:18 – New York Politics, COPA, and Regulatory Risk HSTPA, Mayor Mamdani, COPA, rent regulation, and market uncertainty. * 23:40 – Perceptions of Landlords and Policy Imbalance Debunking landlord stereotypes and discussing regulatory carve-outs for the city. * 25:22 – Lessons from 2019 Rent Laws and Court Delays Litigation uncertainty, judicial delays, and how BBG keeps clients informed in real time. * 30:14 – Market Trends: Office Leasing Activity, Hospitality and Development, and 881 Agreements Office recovery, restaurant growth, and continued NYC development momentum. * 37:59 – Legacy and Reflections on Leadership On mentorship, firm culture, growth, and tenure.

Welcome to Ground Rules

Ground Rules takes you behind the scenes of the real estate industry to uncover the stories that shaped its most influential players.  Brought to you by Belkin Burden Goldman LLP [https://bbgllp.com/].