In this episode of Herrick Does That, Real Estate partner, Yariv Ben-Ari, is joined by Greg Reverdiau, co-founder and lead instructor of Pilot Institute, as they explore how Unmanned Aircraft Systems (UAS) (i.e., drones) and electric vertical aircraft (EVA) are transforming real estate and the legal landscape that comes with it. From urban air mobility and drone delivery to agriculture, inspections and construction monitoring, aerial technology is reshaping how we build, manage, and regulate property. They dive into critical issues like airspace ownership, zoning, liability, FAA regulations, privacy and emerging legislation such as the Countering CCP Drones Act. This episode unpacks the complex intersection of drones, law, and the future of real estate. 

Music by Michelangelo Sosnowitz

 New York City real estate owners and developers have long asked Herrick about transferring unused development rights from an individual landmark to a site across the street, through a 74-79 Special Permit issued by the City Planning Commission (CPC). While these transfers have historically been rare due to a time-consuming, uncertain approval process, with the recent changes to the City’s zoning regulations – specifically, the "City of Yes for Housing Opportunity" (COY) – these transfers have become much easier and more flexible. Listen as Robert Huberman and Michael Smith discuss the removal of some of the red tape and restrictions as wells as the streamlined process and geographic flexibility of the COY changes.  

Music by Michelangelo Sosnowitz

Private Clients partner Theresa Balducci and corporate associate Adam Unger are joined by Matt Joyce, 14-year veteran of Major League Baseball and one-time Major League Baseball All-Star, to discuss issues faced by professional athletes in managing their personal finances. 

Matt shares his personal experiences, both during and after his tenure as a professional athlete. The podcast discusses how to engage in strategic financial planning and have a long-term mindset if you are in a position of coming into a significant amount of money. The podcast further discusses the importance of retaining and engaging reputable professionals, including a lawyer, investment manager and an accountant, particularly when considering potential investment opportunities. Theresa, Matt and Adam highlight that professional athletes, for whom risk-taking is the norm, need to consult with seasoned professionals to minimize potential risks in new investment opportunities and to draft documents critical for asset protection including a will, power of attorney, health care proxy and a pre-nuptial agreement. Theresa elaborates on how professional athletes can achieve their financial goals, including asset growth and protection and tax planning, at different life stages.

Music by Michelangelo Sosnowitz

Herrick partner and chair of the Real Estate Hospitality practice, Yariv Ben-Ari, sits down with Evan Weiss of LW Hospitality Advisors and Jonathan Falik of JF Capital Advisors to discuss their take-aways from the January 2025 ALIS Hospitality conference. Hot topics at the conference included capital markets and the availability of debt for hotels as well as the effects of the new administration’s immigration policies. The three also talk about margins and profitability, urban core challenges and other concerns for owners along with changes in where owners and developers are choosing to invest across the U.S. 

Music by Michelangelo Sosnowitz

Waterfront property comes at a premium in NYC. It’s a finite resource that has its fair share of zoning challenges when owners are looking to develop property. Since the early 1990’s, regulations have been in place that affect the size and location of waterfront development, as well as the amount and quality of required public open space that must be provided in waterfront development. Listen to Real Estate and Land Use partner, Robert Huberman, and Vinh Van Vo, planning and development specialist, discuss the specifics of zoning for waterfront development in New York City.

Music by Michelangelo Sosnowitz

Co-chairs of Herrick’s Sports Law Group, Irwin Kishner and Dan Etna, along with the chair of Herrick’s Land Use and Zoning Group, Mitch Korbey, discuss the financial, environmental, procedural and community considerations in the building and development of stadium and mixed-use projects.

Engaging in these projects entails many steps from identifying the land, to obtaining support and consensus of the community, accounting for the availability of public transportation to assessing the environmental impact. Mitch discusses many of the procedural steps involved in the often-multijurisdictional approval process for stadium projects from permits to the public review process to environmental impact reviews. Dan and Irwin touch on the financing implications for these projects including conventional financings, tax exempt opportunities, as well as concession revenues and media rights. Listen to how these veterans of stadium development discuss how it can be economically and socially transformative for a community.

Music by Michelangelo Sosnowitz

Louis Tuchman, chair of Herrick’s Tax Department, sits down with his longtime friend and colleague Tax counsel, Michael Kessel, to discuss Michael’s return to Herrick and the professional path that led him back to the team. They discuss what makes Herrick so entrepreneurial, how working with colleagues who are also trusted friends can enhance client service, client “matchmaking,” and how the sense of a “deal” and client business priorities is an uncommon trait of a traditional tax lawyer. Michael reflects on his perspective as a client and how Herrick’s sophisticated knowledge of the market helped him reach his business and legal goals. Listen to these friends of more than 20 years discuss what makes the tax practice at Herrick so unique, creative and forward thinking.

Music by Michelangelo Sosnowitz

The New York City Council has voted to approve the City of Yes for Housing Opportunity (COYHO) zoning text amendment. This is the third "City of Yes" text amendment that has been approved in the last year – the others being City of Yes for Carbon Neutrality and City of Yes for Economic Opportunity. Taken together, these text amendments include the most comprehensive and sweeping zoning changes since the adoption of the Zoning Resolution in 1961. Chair of Herrick’s Land Use and Zoning Department, Mitch Korbey, and 2025 partner Robert Huberman discuss what exactly is the “City of Yes” Text Amendment and how it may affect property across the entire city. 

For more information, check out the Client Alert the Land Use and Zoning Department published on December 5, 2024: Update: “City of Yes for Housing Opportunity” Text Amendment is Approved by the City Council.

Herrick Real Estate partner and co-chair of the firm’s Israel and Real Estate Hospitality practices, Yariv Ben-Ari, sits down with Chief Operating Officer at RREAF Holdings and commercial airline pilot, Jeff Holzmann, to discuss the ever-evolving world of drones and real estate. The duo discusses the licenses needed to safely and legally operate drones in the U.S. and the additional layers or security in place for operation in urban areas. They dive deep into how drones are aiding and evolving real estate when it comes to creating location footage and virtual tours; measurements and construction use; topography and landscaping, thermal imagery; building maintenance; and security or safety checks. The development of the use case for drones in real estate and beyond is highly specialized and quickly adapting for commercial use. Listen to how what started as their hobby over 20 years ago with then fictional technology, has turned into an affordable and widely used professional tool.

Music by Michelangelo Sosnowitz

Jonathan Adelsberg, co-chair of Herrick’s Real Estate Department and chair of the Leasing Department, welcomes James Nelson, principal and head of Avison Young’s Tri-State Investment Sales group, to discuss where the opportunities lie in real estate at the end of 2024. Jonathan and James discuss where they are seeing opportunity for developers and owner/operators in the current real estate market; what asset classes are hot in NYC right now; and what is attractive to various buyers as we come into the end of the year. The race to quality, effect of vacancy rates, and some surprises across all asset classes are discussed, as well as Jonathan’s idea of the “hot potato” when it comes to distressed assets.

Music by Michelangelo Sosnowitz