Real Estate New Jersey - May/June 2009

These legal eagles keep the state’s real estate

sector in good shape

From sales and leasing transactions to brownfields redevelopments and property tax appeals, the 40

lawyers on the following pages have done it all. This year, for Real Estate New Jersey’s third annual

compilation of the Garden State’s top real estate attorneys, we received 70 entries. Picking whom to

profile was a tough task, because all were talented, smart and experienced. But these names stood

out for their in-depth knowledge of the real estate industry and involvement in some of the state’s

biggest projects.

We kick off our profiles with a conversation with Ted Zangari, a respected redevelopment law expert

and founder of the Smart Growth Economic Development Coalition, a group of the state’s leading

commercial real estate practitioners. Established in 2007, the group crafted a number of bills that have

gained support in the State Capitol and the Governor’s office.

This cadre of counselors ensures that the state’s real estate industry is well represented.

FIVE QUESTIONS FOR:
TED ZANGARI
Chair, Redevelopment Law Practice Group
Sills Cummis & Gross
Newark & Princeton

What are the most pressing legal issues facing the state today in regards to
real estate development?

Ted Zangari: While there are no pressing new legal issues in the area of development, there are significant legal issues looming in the context of distressed real estate. Given the recent tinkering with—some would say wholesale re-writing of—commercial contracts by federal judges around the country, it will be interesting to see how judges in New Jersey’s state and federal courts rule on a whole host of likely real estate contractual disputes arising from the real estate meltdown. In light of increasing vacancy rates, will judges now be more or less sympathetic to a landlord seeking damages following a tenant default? Will judges scrutinize liquidated damages clauses more closely and declare more of them unenforceable penalties?