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Lowenstein Sandler LLP

Daniel A. Suckerman

Daniel A. Suckerman

Senior Counsel

Expertise

  • Real Estate
  • Corporate

WSG Practice Industries

Activity

Lowenstein Sandler LLP
New York, U.S.A.

Profile

Dan represents a broad range of clients in diverse commercial real estate transactions, including acquisitions, leasing, financing, joint venture agreements, and matters relating to asset management. His practice is national in scope and crosses all asset classes, which keeps him on top of commercial real estate trends.

Dan’s practice focuses on acquisitions and dispositions, with significant experience in multifamily, industrial, self-storage, and retail. Also among Dan’s areas of emphasis is commercial leasing, covering both landlord and tenant clients, and office (with a particular focus on New York City), retail, and industrial.

Dan’s varied and broad-based expertise in commercial real estate allows him to appreciate the perspectives of all participants in a transaction, resulting in more efficient and creative ideas and solutions.

Prior to joining the firm, Dan was an associate at Tannenbaum Helpern Syracuse & Hirschtritt LLP and K&L Gates LLP.

Bar Admissions

    New York
    New Jersey

Education

Benjamin N. Cardozo School of Law (J.D. 2006), cum laude
Rutgers, The State University of New Jersey (B.A. 2003), Political Science
Areas of Practice

Corporate | Family Office Practice | Real Estate

Professional Career

Significant Accomplishments

Represented a leading national developer in connection with the joint-venture acquisition and development of a 40-story residential condominium on Manhattan’s Upper West Side.

Represented a life sciences company which is the owner of over 150 acres of commercial property near Princeton, New Jersey, in connection with the phased sale and redevelopment of the property for commercial and multifamily uses, including the build-to-suit construction and leaseback of an office building and a research and development facility.

Represented a self-storage operator with acquisitions, joint ventures, and financings throughout the United States with an emphasis on the New York metro area, including a $100M+ acquisition in Brooklyn, New York.

Represented a real estate investor in connection with a $42M acquisition, as controlling investor, of a commercial design center in San Francisco's SoMa neighborhood. The transaction included negotiation of a Tenancy-in-Common agreement, a 1031 exchange, $35M in acquisition financing, and property and asset management agreements.

Represented the landlord in connection with the lease of a “building within a building,” totaling approximately 300,000 square feet, in Midtown Manhattan.

Represented one of the largest flexible office providers in Manhattan in connection with a 10-year, 60,000+ square foot lease in Lower Manhattan. The deal has been featured in such publications as The Real Deal, Globe St., and Commercial Observer.

Represented an industrial equipment sales, rental and repair company in connection with multiple triple net industrial leases throughout the New Jersey, Pennsylvania, and Delaware markets.

Represented the owner/developer of one of the tallest residential building in the western hemisphere in connection with various levels of condominium management agreements and a management agreement for exclusive club/restaurant dedicated to residents.



Professional Associations

Member of Rutgers Center for Real Estate – Emerging Leaders Council


Professional Activities and Experience

Accolades
  • Super Lawyers - Dan Suckerman
  • Super Lawyers - (2017) - Suckerman

Articles

Sears (MOAC v. Transform): Landlord May Rest (Adequately) Assured of ‘Similar’ Financial Condition and Operating Performance, But Not Necessarily Tenant Mix
Lowenstein Sandler LLP, March 2020

A recent decision from the United States District Court for the Southern District of New York (the District Court) in the bankruptcy cases of Sears Holdings Corp. may loom large in a day and age when shopping mall operators are seeking creative alternatives to the traditional, retail-oriented anchor-store business model. The Bankruptcy Code (via 11 U.S.C...

Additional Articles

Every lawyer that negotiates New York City office leases, whether on behalf of the landlord or the tenant, needs to be aware of Local Law 26/04. This article explores four key issues presented by Local Law 26/04 and how each party to a lease can consider negotiating these issues.

Before getting into these issues, however, it is necessary to understand the law. Local Law 26/04 requires, among other things, all owners of buildings 100 feet or greater to install sprinklers on all floors of the building by no later than July 1, 2019. Landlords should already be aware of this requirement since this local law requires landlords to submit interim reports to the Department of Buildings advising of the level of progress and implementation plans towards satisfying the sprinkler requirement by July 1, 2019. Even with that knowledge, though, landlords often rely on form leases that may not be updated to address this sprinkler requirement, so landlords’ counsel need to be mindful. Likewise, tenants’ counsel need to be savvy of where issues and costs arising out of this requirement may be lurking in a typical lease.

Term sheets are an essential component of the preparation and negotiation of any office lease. Term sheets are typically prepared by the parties' respective brokers, and sometimes with, but more often without, the benefit of counsel. This article highlights certain aspects of term sheets that are too often left off or not given sufficient attention, with the parties instead relying on lease negotiations to flesh out the details.

This article discusses issues that commonly arise in the negotiation of a lease of office space to a technology company. Specifically, this article covers (1) the tenant’s use and operations, (2) assignment and subleasing, and (3) term provisions and expansion and contraction options. Although this article is written from the tenant’s perspective, the considerations discussed herein are relevant to the landlord and its counsel as well.


This article focuses on leasing issues that arise due to the unique nature of tech companies and does not address general office leasing concerns.


Part one of a two-part article. Click here for access to part two of the article.

Assignment and subleasing is of utmost importance to a tech company tenant. The business life cycle of a tech company is often in hyperdrive, and the company’s lease should not be an impediment to any business moves.


General Considerations


When representing a tech company, you should exercise vigilance to ensure that the standard assignment and subleasing provisions are as reasonable as possible. Rely on your client’s broker to learn what landlord protections are market. More so than most users, it is likely that the tech company tenant will look at this provision sometime during the lease term, hopefully because they have outgrown the space and are moving to larger space. (Though they may also need to assign or sublet because their business has failed.) The details of negotiating an assignment and sublease provision generally also apply to tech company leases but are beyond the scope of this article.


Part two of a two-part article. Click here for access to part one of the article.

When entering into lease negotiations, the tenant’s representative is of course focused on the key business issues, like rent, term and security deposit. However, there are many other less apparent leasing issues that could financially impact the tenant that the tenant’s representative ignores at its peril. This article, the first of a two-part series, discusses four more hidden issues in a commercial lease that every tenant should be mindful of when lease—and even term sheet—negotiations commence.


Part one of a two-part article. Click here for access to part two of the article.

With co-working spaces such as WeWork growing in popularity, real estate attorneys are frequently called upon to help clients navigate the pitfalls of shared space agreements. This article discusses shared space agreements generally, how these agreements differ from leases, advantages and disadvantages of these agreements from the user’s perspective, and considerations for counsel to both the user and the tenant/licensor.


This excerpt from Lexis Practice Advisor®, a comprehensive practical guidance resource providing insight from leading practitioners, is reproduced with the permission of LexisNexis. Reproduction of this material, in any form, is specifically prohibited without written consent from LexisNexis.

With coworking spaces such as WeWork growing in popularity, real estate attorneys are frequently called upon to help clients navigate the pitfalls of shared space agreements. This article discusses shared space agreements generally, how these agreements differ from leases, advantages and disadvantages of these agreements from the user’s perspective, and considerations for counsel to both the user and the tenant/licensor.


(subscription required to access article)

In the first part of our article, we highlighted four less apparent lease issues that tenant representatives should not miss during lease negotiations. This article continues with four additional issues, which, if not negotiated favorably in a lease, could result in avoidable tenant costs.


Part two of a two-part article. Click here for access to part one of the article.


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