Law Office of Helene Pangalos PC
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Practice Areas

Commercial Leasing

Helene primarily represents tenants in their office lease negotiations with landlords in the New York metropolitan area. Industries for such companies range from entertainment (including new media, production and post-production companies) to medical (including physical therapy, dermatology, acupuncture and chiropractic) to traditional office leasing for hedge fund, accounting, legal, architectural, insurance and engineering companies.

Additionally, Helene negotiates bar, lounge and restaurant leases as well as retail store front leases, primarily for clothing companies.

In her lease reviews, Helene emphasizes two areas for discussion with her clients:

  • How does the client plans to utilize the space – both today and in 3 to 5 years as she discusses the nature of the business with the client and their planned growth for the company both from within the company and from the vantage of synergistic alliances, keeping in mind the most flexibility of the space on behalf of her clients; and
  • Business and financial terms of the lease, including how and when escalations will take place, possible security deposit "burn-downs" and how early lease terminations or landlord relocations will impact the client’s costs over the term of the lease.

Purchase and Sale of Co-op's, Condos, Brownstones

Helene also has more than 20 years of experience in representing buyers and sellers of co-op's, condos and brownstones in NYC. For either first time home buyers or sophisticated investors, Helene is able to use her extensive rolodex and knowledge to solve a problem and otherwise add value to almost any transaction on behalf of her clients. Helene understands that the purchase or sale of one's home is a significant milestone in most people's lives, and Helene’s review and advocacy on behalf of her clients is similar regardless of price or circumstance. She works with many matrimonial and trusts and estate attorneys in the sale of properties, and consults with them throughout the transaction, as well as with real estate brokers and clients' accountants or financial planners, acknowledging that these brokers have the "pulse" of the parties and that accountants and financial planners understand the specific financial needs of their clients, so that their respective input is invaluable. Financing terms and lender requirements also vary from time to time and from project to project, and Helene maintains constant communication with a buyer’s lender from their initial approval of a project to the final clearance of the file for closing.

On behalf of purchasers of "new construction condominiums" and "rental conversion" condominiums in NYC, Helene's review also includes a more extensive analysis of the initial offering plan and amendments focusing on the building, the unit, the special risks and other provisions within such plan and amendments that affect a new home buyer navigating such a purchase from the ground up or the very different issues relating to the conversion of a rental building. Sponsor involvement in such a project create another layer of analysis as that often impacts the financing of the project as well as the day-to-day operations of the project.

Purchase and Sale of Commercial Properties and Mixed Use Properties

Helene also represents a number of investors in purchases and sales of commercial as well as mixed use properties. While Helene understands that many concerns are similar to those of purchasing and selling a home (see "Purchase and Sale of Co-op's Condos and Brownstones" herein), there are also a number of unique issues that more often affect commercial purchases and sales, including existing lease reviews, property inspections, environmental matters, seller deliveries at closing, seller and purchaser representations, financing requirements, title issues and violations. These additional concerns must often be weighed against the need to quickly sign a contract and bind the other party. The nature of the purchasing entity (i.e. a family partnership, closely held corporation or single member limited liability company to name just a few) also is analyzed, and Helene works with clients' trusted accounting and financial advisors with regard to such concerns. Finally the timing for closing can be important for both purchasers and sellers.