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Lowenstein Sandler LLP

Daniel A. Suckerman

Daniel A. Suckerman

Senior Counsel

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

tel: 646.414.6938 (NY)
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Local Time: Sat. 01:37

Profile

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

Recent engagements include representing a real estate investor in connection with a $42 million acquisition, as controlling investor, of a San Francisco commercial design center; representing a Brooklyn-based developer in regard to acquisitions and construction financing for several high-end residential projects in Manhattan and Brooklyn; representing several multifamily residential housing operators in connection with acquisitions and dispositions throughout the country, including the $50 million acquisition of a newly reconstructed development in metropolitan Orlando; and representing a national self-storage management company in connection with numerous acquisitions throughout the New York City metropolitan area.

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
Professional Career

Significant Accomplishments

Represented CIM Group as the landlord in connection with the lease of a “building within a building”, totaling 236,000 square feet, in Midtown Manhattan.

Represented Foley Incorporated in connection with several triple net industrial leases of heavy construction equipment sales and repair facilities.

Represented Hampshire Management Company in connection with the retail lease to CityMD of a pad site for a to-be-built medical urgent care center in Westchester County, New York.

Represented Moda Operandi, Inc. in connection with the lease of an approximately 30,000 square foot photo studio space at Industry City located in the Sunset Park neighborhood of Brooklyn.

Represented CIM Group, a community-focused real estate owner and developer, in connection with a lease to prominent co-working company of an entire office portion of boutique office buildings in the Gramercy Park neighborhood of New York City.

Represented various affiliated entities, each operating and holding the franchise for nine Burger King restaurant locations throughout New Jersey, in connection with the sale of all of their assets. The underlying real estate on which the restaurants were located remained under the ownership of other entities affiliated with the seller. This transaction included the negotiation of an asset purchase agreement and 40-year triple net leases for each of the nine restaurants that were sold.

Represented a media company in connection with its 43,000-square-foot office lease in Brooklyn's DUMBO neighborhood in a converted factory building and sublease of its existing office space in Manhattan.

Representing a real estate investor as controlling investor in connection with a $42 million acquisition of a commercial design center in San Francisco's inner Potrero Hill neighborhood of SoMa. The transaction included negotiation of a tenancy-in-common agreement, a 1031 exchange, $35 million in CMBS acquisition financing, and property and asset management agreements.

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 $100+ million acquisition in Brooklyn.

Represented several multifamily residential housing operators in connection with acquisitions and dispositions throughout the country.

Represented a New Jersey-based pharmaceutical company in connection with its acquisition of production facility in Pennsylvania as part of a larger asset purchase transaction.

Represented a prominent real estate fund manager in connection with all facets of its New York City property-related asset management matters, including retail leases, parking leases and office leasing, sales, and property management agreements.

Represented a leading marketing technology company in connection with expansion of Manhattan office footprint to include full-floor penthouse-level event space and ground floor-dedicated access and elevator.

Represented an individual client in the closing of an acquisition of a parcel in Sussex County, New Jersey, triple-net-leased to CVS.

Represented the owner/developer of 432 Park Avenue, the tallest residential building in the Western Hemisphere, in connection with various levels of condominium management agreements and a management agreement for an exclusive club/restaurant dedicated to residents.

Represented a leading hedge fund in its lease negotiation for a new Miami Beach headquarters in a landmark building.



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

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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