Erica F. Buckley leads our Cooperatives & Condominium 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.
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, the Affordable Neighborhood Cooperative Program and the Small Homes Rehab NYCHA, 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 State Housing Finance Agency, and, in particular, 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 corporations 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 will remain strong, and therefore both for-profit and nonprofit developers will seek to either build new housing or convert existing rental housing to cooperative or condominium status. Existing cooperatives may also seek to change their corporate structure for various reasons, and I stand ready to navigate those complex issues for those clients. . Despite this, many developers and landlords will continue to face unprecedented scrutiny from various city and state agencies, and the New York Attorney General will continue to use its vast powers under the Martin Act and Executive Law to zealously investigate and prosecute alleged wrongdoing in the real estate industry.
The Real Deal | September 01, 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 18, 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 13, 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 | June 01, 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 24, 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 09, 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 | November 01, 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.
Habitat | September 07, 2017
New York affordable housing partner Erica Buckley is quoted in this article about the state of the Mitchell-Lima affordable housing program in New York.
Crain’s New York | August 21, 2017
New York City affordable housing partner Erica Buckley provides commentary on the complications that arise when apartments exit affordable housing programs.
The Cooperator | July 27, 2017
New York City affordable housing partner Erica Buckley provides third-party commentary about a proposed regulation by New York City’s Housing Preservation and Development department (HPD).
Law360 | June 30, 2017
The following coverage includes the arrival of New York City affordable housing partner Erica Buckley to Nixon Peabody.
Real Estate Weekly | June 30, 2017
The following coverage includes the arrival of New York City affordable housing partner Erica Buckley to Nixon Peabody.
The Real Deal | June 29, 2017
New York City affordable housing partner Erica Buckley is quoted in this article about a new rule change proposed by the Department of Housing Preservation and Development that will limit how air rights are distributed to developers.
The Deal | June 12, 2017
This coverage includes the arrival of New York City affordable housing partner Erica Buckley to Nixon Peabody.
Law360 | June 08, 2017
This feature discusses how Erica’s extensive experience, particularly in 421-A tax exemptions and the Martin Act, having previously served as the chief regulator of the Real Estate Finance Bureau of the NY Attorney General’s office, will bolster NP’s affordable housing practice.
New York Law Journal | June 08, 2017
This feature discusses how Erica’s extensive experience, particularly in 421-A tax exemptions and the Martin Act, having previously served as the chief regulator of the Real Estate Finance Bureau of the NY Attorney General’s office, will bolster NP’s affordable housing practice.
Bloomberg BNA | June 06, 2017
This article mentions New York affordable housing partner Erica Buckley’s arrival at Nixon Peabody.
Affordable Housing News | June 06, 2017
This article mentions New York affordable housing partner Erica Buckley’s arrival at Nixon Peabody.
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 Buckley was recognized by Crain’s New York for its inaugural list recognizing “Leading Women Lawyers in New York City.”
Erica is a member of various organizations, including but not limited to the Real Estate Board of New York (REBNY), where she sits on their Housing Committee; the New York State Association for Affordable Housing (NYSAFAH), where she sits on their Legal Committee; the Furman Center, where she sits on the Board of Advisors; the New York City Bar Association Housing and Urban Development Committee, where she is the chair of the Community Land Trust Sub-Committee; and Habitat for Humanity New York City, where she is a member of the Leadership Council.
