Erica F. Buckley leads our Cooperatives & Condominiums practice, where she oversees various transactional matters and government investigations for clients involving real estate securities and other housing-related issues. Ms. Buckley is the former chief of the Real Estate Finance Bureau of the New York Attorney General’s office. During her tenure as chief, she oversaw the staff charged with the review of securities filings such as offering plans, amendments and no-action letters, as well as enforcement activities including Martin Act and Executive Law investigations and litigations. Ms. Buckley practices out of the firm’s New York City and Albany offices.
I focus primarily on the Martin Act—New York’s blue-sky law, which governs real estate securities, including cooperative interests in realty (cooperatives, condominiums, homeowner associations and senior communities) and syndications (investments in real estate). I represent for-profit and nonprofit developers, lenders and government agencies on an array of issues involving real estate securities. Drawing on my experience as former chief of the Real Estate Finance Bureau, I advise our clients on how to meet regulatory requirements effectively while minimizing risks relating to their properties, as well as guiding those clients who are under Attorney General investigation. I provide the following services to my clients.
I represent my developer clients on a broad array of issues involving the formation of condominiums, cooperatives, community land trusts, co-housing communities, leasehold properties and other investments such as syndications. I draft offering plans, no-action letters and exemption applications and submit those documents to the New York Attorney General’s office on behalf of my clients. I also provide strategic guidance on navigating the various city and state agencies that are key to the formation of for-sale projects. I provide peer review services to my lender and government agency clients, and I also provide policy guidance on an array of issues involving real estate securities. I also represent my developer and government agency clients on new construction development transactions, primarily those with a cooperative or condominium component. I have extensive knowledge of various city conversion programs such as Third Party Transfer, Open Door and the Affordable Neighborhood Cooperative Program and act as counsel to both for-profit and nonprofit sponsors.
A substantial part of my work involves representing clients before the New York Attorney General’s office who are under investigation for alleged violations of the Martin Act or the Executive Law. I appear before the New York Attorney General’s office on behalf of clients under investigation, and I assist in brokering workable settlements to close out matters to avoid litigation. When necessary, I also provide guidance to my clients on litigation strategy.
My work at the Attorney General’s Office afforded me the opportunity to cultivate strong relationships with city and state government agencies, including the New York Attorney General’s office, Division of Housing and Community Renewal, New York City Housing Development Corporation, New York City Housing Authority, New York State Housing Finance Agency, and, in particular, the Department of Housing Preservation and Development (HPD). I represent developers before these city and state agencies on various regulatory and transactional matters. I also provide guidance on legislative and policy matters on a broad range of real estate issues.
As special counsel, I advise cooperative and condominium boards on complex legal issues such as major corporate changes, adoption of new governing documents and negotiations with city and state agencies on the procurement of real estate tax benefits and/or new financing. I work primarily with affordable housing cooperatives such as Housing Development Fund Companies or Mitchell-Lama cooperatives that are seeking to modernize their governing documents, adopt new resale policies and participate in programs such as the Article II to Article XI Conversion Program—a program I co-developed with HPD.
New York’s real estate securities market is rapidly changing in the face of COVID-19. Luxury condominium sales have cooled, but we remain very active on middle-market and affordable for-sale projects, including new construction condominiums and cooperatives in areas such as Brooklyn. We are also seeing an increased interest in the upstate market, which provides great opportunities for developers looking to build homes for families seeking close proximity to New York City while enjoying the benefits of upstate living. While the for-sale market has changed, the scrutiny from various city and state agencies has also heightened, and the New York Attorney General continues to use its vast powers under the Martin Act and Executive Law to zealously investigate and prosecute alleged wrongdoing in the real estate industry. I stand ready to represent my clients in all aspects of the changing landscape.
New York Law Journal | July 16, 2020
In her latest “Ask the Former Regulator” column, New York City Affordable Housing & Real Estate partner Erica Buckley examines some of the limited relief afforded to condominium sponsors under the recent executive orders signed by Governor Andrew Cuomo.
Albany Times Union | June 20, 2020
This roundup of notable executive news includes the appointment of New York City Cooperatives & Condominium practice team leader and partner Erica Buckley to co-chair of the New York State Bar Association’s Condominiums & Cooperatives Committee.
The Cooperator | June 16, 2020
This feature article on New York City’s first-ever Housing Development Fund Corporation cooperative dissolution and reconstitution to free-market status quotes Cooperatives & Condominiums practice team leader Erica Buckley and mentions Affordable Housing & Real Estate counsel Ruben Ravago, both of New York City, for advising West Village Houses.
Habitat | June 08, 2020
This feature article on New York City’s first-ever Housing Development Fund Corporation cooperative dissolution and reconstitution to free-market status quotes Cooperatives & Condominiums practice team leader Erica Buckley and mentions Affordable Housing & Real Estate counsel Ruben Ravago, both of New York City, for advising West Village Houses.
Crain’s New York | April 29, 2020
Cooperatives & Condominium practice team leader Erica Buckley contributed this op-ed on New York City’s real estate landscape during the pandemic, offering her outlook and appeal for affordable housing and home ownership.
Habitat | March 26, 2020
New York City Affordable Housing and Real Estate partner Erica Buckley and counsel Ruben Ravago co-wrote this contributed article, based on their NP client alert, about the key issues condo boards and co-ops must consider before enlisting the assistance of volunteers during a pandemic.
New York Law Journal | March 23, 2020
In her latest “Ask the Former Regulator” column, New York City Affordable Housing and Real Estate partner Erica Buckley explains that the functions of New York government, including the Attorney General’s Real Estate Finance Bureau, are still in operation during the coronavirus shutdown, as most state employees continue to work remotely.
City and State | March 09, 2020
New York City Affordable Housing and Real Estate partner Erica Buckley appears on this City and State 2020 Law Power List, recognizing New York’s most politically powerful lawyers.
Brick Underground | February 19, 2020
This article features New York City Affordable Housing & Real Estate partner Erica Buckley talking about the process for condo and co-op owners who may want to buy a second unit in the same building to combine with their current home.
The Real Deal | February 13, 2020
New York City Affordable Housing and Real Estate partner Erica Buckley talks about Governor Andrew Cuomo’s veto of a bill that would’ve jeopardized property tax abatements for condos and co-ops that do not pay a prevailing wage to their building service workers.
New York Law Journal | December 18, 2019
In her latest “Ask the Former Regulator” column, New York City Affordable Housing and Real Estate partner Erica Buckley answers a question from a condominium sponsor in New York City who is beginning to sell condo units with only a temporary certificate of occupancy.
Habitat | July 11, 2019
This story quotes New York City Affordable Housing and Real Estate partner Erica Buckley on a controversial new bill headed to Governor Andrew Cuomo’s desk. The bill would require co-op and condo owners to pay their nonunion employees more than twice the minimum wage to qualify for a key tax abatement.
Crain’s New York | July 09, 2019
New York City Affordable Housing & Real Estate partner Erica Buckley wrote this op-ed outlining how a new law designed to protect tenants may actually reduce home ownership opportunities in the city, due to a provision making condo conversions more difficult.
The Real Deal | July 01, 2019
This article features New York City Affordable Housing & Real Estate partner Erica Buckley discussing a new statewide housing law that could have a major impact of landlords’ ability to move forward with condo conversions.
New York Law Journal | June 04, 2019
New York City Affordable Housing and Real Estate partner Erica Buckley wrote this contributed column on the statute of limitations governing the length of time unit owners and condo boards have to sue a condo sponsor. The column is part of Erica’s regular series, “Ask the Former Regulator.”
City & State | May 13, 2019
New York City Affordable Housing and Real Estate partner and Cooperatives & Condominiums team leader Erica Buckley is included in this inaugural list of the 50 most influential lawyers in New York state.
New York Law Journal | March 01, 2019
Cooperatives & Condominiums Practice Team Leader Erica Buckley, based in New York City, authored this “Ask the Former Regulator” column. The article discusses “grossing up” and “seller concessions” and what scenarios are permissible under the Martin Act in New York.
The Real Deal | February 19, 2019
New York City Affordable Housing & Real Estate partner Erica Buckley is quoted in this story on the common practice of misnumbering residential floors in luxury condo developments to give the impression of a higher position in the building.
Crain’s New York | January 01, 2019
New York City Affordable Housing & Real Estate partners Erica Buckley and Tatiana Gutierrez are featured on this annual list honoring the top women in law in New York.
The Real Deal | September 30, 2018
New York City Affordable Housing & Real Estate partner Erica Buckley is quoted extensively in this article about how a win for Democratic attorney general candidate Tish James could impact the city’s real estate industry.
The Real Deal | September 18, 2018
New York City Affordable Housing and Real Estate partner Erica Buckley is quoted in this article about how New York real estate will evolve if nominee Letitia James becomes the next attorney general.
The Real Deal | August 31, 2018
New York City Affordable Housing and Real Estate partner Erica Buckley provides commentary in this article is about the impact of the New York Attorney General Real Estate Finance Bureau’s work to modernize operations, strengthen enforcement and broaden its scope.
Habitat | June 17, 2018
New York City affordable housing and real estate partner Erica Buckley is quoted in this article on the varying standards for measuring square footage in for-sale units in New York City.
The Real Deal | June 12, 2018
New York City affordable housing and real estate partner Erica Buckley is quoted in this article discussing the debate within the city’s real estate market over how to measure the square footage of condominium units and co-ops.
The Real Deal | May 31, 2018
New York City affordable housing and real estate partner Erica Buckley, who was formerly chief of the Real Estate Finance Bureau in the state attorney general’s office, is quoted in this story for her perspective on how a new leader will change the office’s approach to housing law.
American Lawyer | May 23, 2018
Affordable housing and real estate partner Erica Buckley and project finance and public finance partner Roddy Devlin are both quoted in this article announcing an expansion of our real estate practice in New York City.
The Villager | March 08, 2018
New York City affordable housing partner Erica Buckley is mentioned in this article for representing the board of the West Village Houses complex as it transitions from an HDFC co-op to a normal co-op.
Habitat | January 24, 2018
In this article on New York City’s Mitchell-Lama affordable housing program, New York City affordable housing partner Erica Buckley is quoted on whether an infusion of cash from the mayor’s office can dissuade co-op owners who want to sell at market rates.
Habitat | October 31, 2017
This article quotes New York City affordable housing partner Erica Buckley regarding Major Bill de Blasio’s $250M offering plan to preserve Mitchell-Lamas in the city.
City University of New York School of Law at Queens College, J.D.
State University of New York at Binghamton, B.A.
New York
Erica has received various accolades during her career. Most recently, Erica was featured on the City and State “The 2020 Law Power 100” list which recognizes the state’s most politically powerful lawyers. In 2019, Erica was awarded the Habitat for Humanity Leadership Volunteer Habby Award. She was also recognized by City & State New York as one of the state's “Power Law 50” attorneys which recognizes 50 of New York’s most influential attorneys outside of government who demonstrate and command an in-depth understanding of the laws governing their practices. She was also included in Crain’s New York inaugural list recognizing “Leading Women Lawyers in New York City” on various occasions.
Erica is a member of various industry organizations and holds leadership positions as co-chair of the New York State Bar Association Committee on Condominiums and Cooperatives, and is co-chair of the Real Estate Board of New York Housing Committee. Erica is a member of the New York City Bar Association Cooperatives and Condominiums Committee; the Habitat for Humanity New York City, where she is a member of the Leadership Council; the CUNY School of Law Foundation Board, where she sits on the board of directors; and the New York Mortgage Coalition, where she sits on the board of directors.
