Ruben Ravago is counsel in Nixon Peabody’s Real Estate and Community Development practice group where he focuses on the representation of for-profit and nonprofit developers, investors, lenders and government agencies involved with for-sale housing. Ruben also advises select cooperative and condominium board clients as special counsel, with an emphasis on corporate reorganizations or major redevelopment or infill initiatives.
I work with various clients in the acquisition, disposition, development, leasing and management of commercial, residential and mixed-use properties, with an emphasis on for-sale projects. My practice includes assisting developers in establishing new cooperative and condominium regimes, including compliance with the myriad laws, rules and regulations governing for-sale housing. I also serve as special counsel to boards of established buildings on major governance or redevelopment issues, including affordable cooperatives such as Housing Development Fund Companies and Mitchell-Lamas. I also work with developers, lenders and government agencies on addressing regulatory compliance on for-sale housing, which includes peer review of new and existing cooperative and condominium organizational and offering documents.
With any type of development, I believe that giving good strategic advice requires understanding both the applicable legal and regulatory backdrop, as well as the particular history and circumstances that give rise to a particular transaction or issue. Appreciating the whole picture helps maximize value for clients and identify a framework for successful negotiations.
While we are beginning to see shifts in certain sectors of the for-sale market, there will continue to be a focus on affordable housing initiatives, which are critical to maintaining a sustainable inventory of housing for all New Yorkers. Given the shortage of vacant land in major urban areas such as New York City, owners such as existing cooperatives will explore maximizing the upside of underutilized assets such as vacant land. Given my extensive experience representing both developers and cooperative and condominium boards, I am excited to work on these unique opportunities. I also look forward to helping both nonprofit and for-profit developers with new for-sale projects, including those focused on the affordable and middle-market projects, which are necessary to grow viable and vibrant communities.
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.
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