New York, NY. Nixon Peabody is expanding its nationally recognized affordable housing practice in New York City with the arrival of new partner Erica F. Buckley. As the former chief of the Real Estate Finance Bureau of the New York Attorney General’s office, Erica brings extensive experience in market-rate and affordable condominiums and cooperatives, Housing Development Fund Corporations (HDFCs) and tax incentive programs such as 421-a.
“As the need for affordable housing in the U.S. continues to grow, more for-profit developers of market-rate housing are considering expanding into the affordable housing industry,” said Stephen Wallace, leader of Nixon Peabody’s Affordable Housing practice. “Erica’s experience in the real estate industry nicely complements the depth and breadth of our affordable housing practice, while giving us the opportunity to expand our work with developers.”
Erica represents a wide range of clients in rental and for-sale housing including for-profit and not-for-profit developers of condominiums, cooperatives and community land trusts; tenant associations and community lenders; and other businesses focused on both market-rate and affordable homeownership opportunities for low-to-moderate income buyers. Erica is also well-versed counseling clients with matters relating to the Private Housing Finance Law and New York Real Property Tax Law Section 421-a.
In her previous role as chief regulator of the Real Estate Finance Bureau, Erica oversaw the offer and sale of real estate securities including condominiums, cooperatives and syndications, among others. Erica was also charged with policy initiatives involving the Martin Act, and has extensive experience in affordable housing involving HDFCs and Mitchell-Lama cooperatives.
“During her time at the Real Estate Finance Bureau, Erica developed a reputation for being an innovator,” said Joseph Lynch, Managing Partner of Nixon Peabody’s New York City office. “Erica understands the business and the complexities of affordable housing and has the creativity to get deals closed. Our clients and colleagues alike will enjoy working with her.”
Erica joins Nixon Peabody LLP from Stroock & Stroock & Lavan LLP’s real estate and government relations practice. She graduated from City University of New York School of Law and earned a BA from Binghamton University.