As real estate development soars in Lower Manhattan and beyond, Stroock & Stroock & Lavan has bolstered its real estate finance practice with the hiring of a seasoned attorney from a competing firm.
Jon Ziefert, who was previously with Squire Patton Boggs, now holds the title of special counsel in Stroock’s New York office. Ziefert advises real estate developers, investors, lenders, and private equity funds in many kinds of transactions, including M&A, joint ventures, property development, and leasing arrangements.
Ziefert makes his move at a busy juncture in the real estate finance market. He told IFLR1000 that one of his clients is in the midst of development work in Manhattan, Brooklyn, and Queens. The project is in the area of multi-family and hospitality development, including work with the New York City Economic Development Corporation and the Battery Park City Authority.
“The principals there were excited to hear I was moving to Stroock and I was able to transfer the active matters I have been working on for them over here easily,” Ziefert said.
Ziefert sees certain parts of the city as benefiting from a surge of enthusiasm about the city’s long-term economic prospects. People are optimistic about New York, and this attitude manifests itself partly through the massive infrastructure development transforming downtown, including the new projects underway at the World Trade Center site, such as Brookfield’s and Westfield’s shopping malls.
“Condominium projects are continuing to move progress at a rapid pace, and affordable housing is also a growth area. New York City is a place where international investors are finding a safe deposit box for their money, and the market is strong and growing, and Stroock’s practice fits in particularly well with all that is going on in town,” Ziefert commented.
“Stroock can also work in a down cycle, they’ve got a distressed real estate practice here too, and I’ve done that type of work as well,” he added.
Besides Squire Patton Boggs, Ziefert’s experience includes tenures at Cravath Swaine & Moore, Kramer Levin, and Paul Hastings. He holds a J.D. from Rutgers University School of Law – Newark and an M.A. and B.S. from Columbia University.