Father & son join a family

Real Estate Weekly, March 28, 2001

Scott E. Mollen, formerly a partner of Graubard Mollen & Miller, the author of the New York Law Journal's Realty Law Digest, a member of the Mayor's Committee on the Judiciary and an Adjunct Professor at St. John's University School of Law, and his father, Milton Mollen, a former presiding justice of the Appellate Division, 2nd Department and Deputy Mayor of the City of New York who has served as of counsel to the Graubard firm and former Graubard partners Jack Weinberg, Scott E. Hershman, Therese M. Doherty and John P. Sheridan announced that they have joined the firm of Herrick, Feinstein LLP, effective March 1, 2001. Joining the departing partners will be one associate, John J. Malley, and certain support staff.

"Clients whom the departing group represent will find that Herrick's extraordinary expertise and resources in a wide array of additional practice areas will be particularly beneficial," Scott Mollen stated.

Harvey S. Feuerstein, Chair of Herrick, Feinstein's Executive Committee, said "Our firm is extremely gratified that its offer has been accepted. We are impressed with the high quality of our new arrivals as people and as lawyers. They will provide an energizing synergistic complement of expertise, clientele and cross marketing opportunities and we are delighted to welcome them."

Herrick, Feinstein LLP is a major, cutting edge law firm that has become a veritable cross-roads and think tank where many of the real estate industry's leading owners, developers, builders, lenders and investors interact as they pursue their next transaction.

Herrick, Feinstein prides itself in its ability to provide legal service that is both technically excellent and, at the same time, sensitive to the unique and practical business problems that its clients confront everyday. Herrick, Feinstein's clients value the firm's willingness not only to provide legal advice, but to contribute in making meaningful contributions to the client's overall business success by responding to client requests for important and critical introductions to other players in the industry. Herrick, Feinstein makes it clear that it is not a broker but a law firm first and foremost.

However, Herrick, Feinstein's lender clients appreciate Herrick's willingness to bring them borrowers who need financing. Owners and developers are extremely appreciative for introductions to sources for equity and debt financing. The real estate brokerage community appreciates introductions to owners and tenants and tenants are extremely appreciative for introductions to owners, developers and brokers. Thus, rather than merely charging fees for legal services, Herrick, Feinstein serves as an extremely valuable "partner" for their clients. Becoming a client of Herrick, Feinstein often brings access to financing, business opportunities, invaluable relationships and services that far transcend that provided by most traditional law firms.

One of the reasons that Herrick, Feinstein is able to bring so much value added practical experience, is because of the entrepreneurial philosophy of the firm. The firm and its partners have an impressive history as investors in successful business enterprises and real estate venture that the firm has created. It may be the only law firm in the country that created, capitalized and helped operate a federal savings bank, a national bank, a high volume SBIC lender, a boutique investment bank, a bridge lender and financial adviser to hospitals and other healthcare providers, as well as developed an array of real estate projects across the country. This entrepreneurial activity has instilled an important "sense of the deal" which is found at Herrick, Feinstein.

Herrick, Feinstein's real estate department is comprised of approximately 45 attorneys who provide a full range of services. Herrick, Feinstein's expertise includes, among other things, leasing, purchase, sale, financing, healthcare, condominiums, cooperatives, loan workout and enforcement, collateral dispositions, as well as land use, environmental and landlord/tenant. Its projects include major urban office complexes, suburban office parks, mixed-use developments, regional malls, community shopping centers, warehouse/distribution centers, industrial parks and single-family and multifamily residential development, as well as coops and condos.

Another overriding unique aspect which benefits Herrick, Feinstein's clients is the team culture of the firm. Unlike traditional law firms, the firm does not have a system of providing direct origination credit to individual partners. Such system often leads to internal territorial arguments and individual approaches to handling clients. At Herrick, Feinstein, teamwork is an important tenet of the firm's philosophy and that approach assures that the best talent will be available for each client's matter.

Herrick, Feinstein was one of the early innovators in the public syndication of real estate equity and had served as counsel to the National Association of Real Estate Syndicators. It helped draft legislation which still governs real estate syndication law in the State of New York. Both in the 1970's and more recently, during the 1989 to 1995 real estate recession, Herrick, Feinstein assisted clients in developing creative workout solutions to deal effectively with the collapse of the real estate market. Herrick, Feinstein even formed its own mortgage banking company to alleviate the tight money crisis.