Profile
Thomas D. Kearns has significant experience in both real estate and corporate law. He specializes in representing owners, operators and developers in the acquisition, development, leasing and financing of office, residential and retail properties. He has extensive experience with joint venture, LLC, tenant-in-common and other agreements between co-venturers and with sophisticated condominium or other joint ownership arrangements of both real estate and non-real estate businesses. He is also an expert on the impact of federal and state securities laws on real estate. Mr. Kearns regularly represents professional athletes and sports executives and other high net worth individuals in their residential transactions in New York.
About Thomas Kearns
Admitted: 1985, New York
Professional Webpage: www.olshanlaw.com/attorney_profiles/kearns.php
Bar/Professional Activity:
- Member, NY State Bar Real Property Section Legislation Committee, 2008
- Book Editor, ABA, Real Property Section, 2008
- Mr. Kearns has been an Associate Partner by the Partnership for New York City since 2008., 2010
Pro bono/Community Service:
- Represented the New York City Investment Fund pro bono on the loan to Seaview Senior Living Corporation (SSLC) to support the construction of a 132-unit assisted living facility on a 15.4 acre site in central Staten Island., 2010
Scholarly Lectures and Writings:
- LexisNexis published a commentary entitled "Drafting General Releases After Centro: How to Preclude or Preserve Future Claims of Fraud and Breach of Fiduciary Duty" written by Eric L. Goldberg, Thomas D. Kearns and Thomas J. Fleming. The article addresses a recent New York Court of Appeals decision overruling the First Department's ruling in Blue Chip Emerald LLC and highlighting New York's enforcement of general releases between fiduciaries., Co-Author, Drafting General Releases After Centro: How to Preclude or Preserve Future Claims of Fraud and Breach of Fiduciary Duty, LexisNexis Emerging Issues Commentary 2011 Emerging Issues 5827
- Chapter 1 of Bergerman and Roth's New York Real Property Forms Annotated, 669 pages., "Contracts of Sale and Exchange and Related Actions", Matthew Bender & Co., Inc., Real Estate
Transactions:
- June 11, 2008 New York Times Covers Kaufman Studios Expansion The New York Times featured an article about Kaufman Astoria Studios, one of New York City's largest film and television studios, and its plan for a major expansion. The expansion involves city, state and private financing. Thomas D. Kearns represents Kaufman Astoria Studios in connection with the transactions., 2008
- October 21, 2008 Bloomberg Joins Groundbreaking at Kaufman Astoria Studios Variety, New York Post and Daily News were among the media reporting on the groundbreaking ceremony for the Kaufman Astoria Studios expansion. In attendance were Mayor Bloomberg, who noted the stage’s significance in his speech, and special guest Elmo. Thomas D. Kearns represents Kaufman Astoria Studios and handled the financing for the expansion. , 2008
- May 25, 2010
Kearns’ Represents NYC Investment Fund Pro Bono
Thomas D. Kearns represented the New York City Investment Fund pro bono on the loan to Seaview Senior Living Corporation (SSLC) to support the construction of a 132-unit assisted living facility on a 15.4 acre site in central Staten Island., 2010
- December 1, 2010 Olshan Handles $31 Million Condo Sale The Real Deal reported that the sale of the Penthouse at the Superior Ink Building on West 12th Street was the third largest residential sale in 2010. Other reports cite the sale as the highest residential price in Manhattan history below 14th Street. Thomas D. Kearns represented the seller. , 2010
- December 7, 2010 United Capital Buys $60M Note on New Jersey Resort
The Asbury Park Press covered the purchase by United Capital Corp., a real estate investment and management firm, of a $60 million mortgage from Barclay Capital Real Estate Inc. for the Ocean Place Resort & Spa located in Long Branch, NJ. The Resort is the premier ocean front hotel in Long Branch and is in the process of a foreclosure. Eric L. Goldberg, Thomas D. Kearns, Hyman Kindler and Martin S. Cooper comprise the Olshan team representing United. , 2010
- December 8, 2010
The Wall Street Journal Reports on $93 Million Office Building Purchase
The Wall Street Journal reported today on the closing of 100 Fifth Avenue for $93.5 million. Investment firm Invesco Real Estate and the Kaufman Organization bought the property from a unit of Rock Joint Ventures of the U.K. through a pre-packaged bankruptcy plan. Olshan served as co-counsel for the buyer. Thomas D. Kearns leads Olshan’s team. Eric L. Goldberg, Adam H. Friedman, Hyman Kindler and Jessica A. Berets also represented the buyer. Mr. Kearns was quoted on the deal in The New York Law Journal (subscription required)., 2010
Other Outstanding Achievements:
- August 1, 2008 Thomas D. Kearns Interviewed on Financing Issues The Cooperator, a monthly newspaper covering cooperative and condominium issues, features an interview with Thomas D. Kearns on financing issues in its Question and Answer column., 2008
- November 1, 2010
Kearns Interviewed on Corporate Governance Issues
The Cooperator, a monthly newspaper covering cooperative and condominium issues, features an interview with Thomas D. Kearns on how to deal with a disgruntled shareholder in its “Question and Answer” column. , 2010
Newsletters:
- Tenants in common often seek advice before entering into a new lease. Below please see a checklist of items to consider. The acronym "TIC", which stands for tenancy in common and tenants in common, refers to arrangements under which two or more people co-own a parcel of real estate without a "right of survivorship.", Tenant in Common Checklist
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The choice between Delaware and New York as the jurisdiction of organization for a new limited liability company which will do business in New York needs to be reviewed in every circumstance. The following is a list of the pros and cons of using Delaware.
, Delaware vs. NY LLCs