Actively at the helm of the law firm he built from scratch, Adam Leitman Bailey, Esq. practices residential and commercial real estate law. Among New York’s most successful and prominent real estate attorneys, Mr. Bailey has been identified among the top five percent of attorneys in the New York area, repeatedly named a Super Lawyer, ranked in Chambers & Partners, and honored with a Martindale-Hubbell “AV” Preeminent rating as well as a Best Lawyer for himself and his law firm.
The internationally esteemed Chambers & Partners has repeatedly selected Mr. Bailey as one of New York’s Leading Real Estate lawyers and, being one of only three New York attorneys from firms with fewer than 30 attorneys to receive the honor. Chambers & Partners hailed Mr. Bailey as a “tenacious and confident litigator who is quick-witted in court and respected by the judges,” noting that Bailey is “an extraordinary practitioner who gets great results” and quoting a client on Mr. Bailey’s “ability to anticipate things before they happen.” “He has been hired to litigate extremely high-profile cases…sources are highly impressed by his courtroom presence.” “You feel like you have a zealous advocate out there working for you, and you never worry about things when they are in his hands.”
A New York State Judge wrote that Mr. Bailey “was the best trial lawyer I saw in my nine years as a Judge in New York City.” The Commercial Observer named him as one of New York’s Most Powerful Real Estate Attorneys. Real Estate Weekly recognized him as, “one of the most respected commercial real estate attorneys in not only New York City, but arguably the country.”
The New York Times referred to his legal strategy and legislation proposed in one case as “novel,” in addition to remarking on another case in which “Adam Leitman Bailey fought on…grinding through excruciating detail and obscure Perry Mason moments.” After Mr. Bailey’s firm used a forgotten statute to prevail in a landmark case, the Wall Street Journal quoted a prominent New York developer’s attorney who called the holding a “game changer” affecting real estate nationwide. In another case hailed as “the city’s largest condo refund ever” (Curbed NY) involving “a settlement likely to send shivers through the ranks of the city’s condo developers” (the New York Post), the settlement he received was the largest condominium settlement in history for one building, and in another transaction, he obtained the largest government grant ($21 million) for a cooperative in New York history. The Commercial Observer ranked another victory among their “15 Most Fascinating New York Real Estate Cases of the 21st Century.”
Dateline NBC referred to Mr. Bailey as “aggressive, tenacious and smart” in asking him to share his negotiating secrets on its nationally syndicated television program. Mr. Bailey’s advocacy has prevailed in numerous important trials and cases before various courts and trial venues, including Housing, Civil, and New York State Supreme and Federal Courts, as well as various New York Appellate tribunals.
Notable wins have included:
Lorne v. 50 Madison Avenue LLC, an Appellate Division decision that finds responsibility for repairs of newly constructed buildings remains with Sponsor instead of Condo Board;
Hartman v. Goldman, an adverse possession case of first impression before New York’s Appellate Division;
542 East 14th Street v. Lee, a case of first impression before New York’s Appellate Division defining expansion of rent regulation law for non-primary residence cases;
Interstate Land Sales Full Disclosure Act Cases, turning to a forgotten federal statute called the Interstate Land Sales Full Disclosure Act, he creatively discovered a way to void the contracts of sales for buildings over 100 units resulting in hundreds of settlement and court victories.
Rivas v. McDonnell, a noteworthy Appellate Division decision involving an interpretation of the recording statute;
Sky View Parc Purchasers Association, et al. v. FTC Residential Company II, L.P., the largest condominium settlement in New York history;
Trump SoHo, where Adam Leitman Bailey prevailed in a settlement providing millions of dollars to clients based on fraud claims under the Federal Securities Law;
Mr. Bailey has successfully defended a number of leading title companies and lenders in the nation and prevailed in numerous trials and settlements involving commercial and residential building owners, tenants, real estate developers, real estate brokerages, insurance companies and cooperative and condominium boards. In addition, Mr. Bailey has favorably represented a number of tenant and homeowner associations as well as commercial and residential tenants, garnering millions of dollars in compensation and rent abatements for these associations and individuals. For clients facing landlords who leave buildings in disrepair, Mr. Bailey has an unusually successful track record of getting those residential towers, apartments, and stores repaired and all services restored.
Mr. Bailey has also applied his expertise in closing various real estate deals and commercial leases. He has been named to the Board of Editors for Commercial Leasing Law & Strategy and has a regular real estate column in the New York Law Journal. Bailey’s lease-drafting skills received national attention when BlumbergExcelsior, the nation’s leading form distributor, responsible for over 70 percent of the residential leases signed in the United States, tapped Bailey to draft a new set of residential and office leases for purchase nationwide. BlumbergExcelsior’s principal remarked that Bailey’s lease drafting skills were “remarkable.” While almost all New York property owners utilize his leases for residential purposes, his commercial leasing ideas and strategies are commonly part of the entire national commercial-leasing scene and have been included in “The Insider’s Best Commercial Lease Clauses,” published by the Vendome Group.
His success as cooperative and condominium general counsel earned Mr. Bailey recognition in “Who’s Who in Real Estate” by Habitat Magazine. As an assistant adjunct professor at New York University, Mr. Bailey taught commercial and residential landlord-tenant law. In 2011, Mr. Bailey took on the role of author to guide first-time home buyers through the purchasing process. John Wiley and Sons published his first book, Finding the Uncommon Deal: A Top New York Lawyer Explains How to Buy a Home for the Lowest Possible Price which became a No. 1 New York Times bestseller and is available for purchase worldwide. Mr. Bailey has also been elected a Fellow of the American College of Real Estate Lawyers (ACREL), where he serves on the Insurance and Title Insurance committees, and the American College of Mortgage Attorneys (ACMA).
American College of Real Estate Lawyers, 2011-present; Mortgage Bankers Association, 2008-present. Drafted: 23 residential and commercial real estate leases for BlumbergExcelsior, 2006-present. Fellow: ACMA (American College of Mortgage Attorneys); ACREL (American College of Real Estate Lawyers).