Kearns Published in NY Real Estate Journal on New AG Statement on Investing in Condo Projects Prior to Offering Plan

Today’s New York Real Estate Journal published an article by Thomas Kearns, partner in the Real Estate Law Group, entitled “Today's Hot Condo Market - If You Build - I Will Buy,” which explores the complications that can arise if a sponsor attempts to take advantage of the New York Attorney General’s recent statement on taking on investors in a condominium project before the offering plan is issued, where the investor wishes to purchase a unit when constructed. The new AG statement dovetails with the recent relaxation of the federal Reg D rule prohibiting advertising in exempt public offerings.