Pay It Forward: "In CRE, Clients Want Lawyers Who Know More Than Statutes And Case Law"
"Remaining focused on accomplishing clients’ goals has helped me move through this difficult period and feel like I have contributed to the well-being of my clients, and the survival of the city I grew up in, and love dearly," says Mindy H. Stern of Schwartz Sladkus Reich Greenberg Atlas.
Mindy H. Stern, Schwartz Sladkus Reich Greenberg Atlas, NYC.
Practice Area: Real Estate and Trusts and Estates Law.
Law school and year of graduation: Rutgers Law School, 1982.
How long have you been at the firm and when did you make partner/? I joined SSRGA as a partner in 2016. My real estate practice includes sales, acquisitions, leasing and financing by for-profit and nonprofit entities, public companies, and individuals. My trusts and estates practice includes counseling clients on all aspects of estate planning to achieve family wealth transfer, asset protection, philanthropic and other goals, and to help them administer trusts and estates. These practice areas frequently overlap, as individuals often own or lease the real estate in which they live and work and some clients are in the real estate business.
Why did you decide to practice law in the real estate industry? Of all the courses I took in law school, real estate was the most interesting. It is practical – everyone lives and works someplace – so the prospect of helping individuals and businesses buy, sell, lease and finance appealed to me then, and still does. It is tangible – clients negotiate terms, and lawyers help them consummate the transaction. I greatly enjoy developing and executing strategies that help clients achieve their goals, and support their businesses and the economy.
What do you think was the deciding point for the firm in making you partner? Before joining SSRGA, I spent almost 30 years at Schoeman Updike Kaufman & Stern now Schoeman Updike Kaufman & Gerber, where I advanced from associate to partner. In addition to working on traditional “bricks and mortar” sales, leases, and financings, I help many clients navigate the complex, intertwined real estate and estate legal issues that arise from inheriting family partnership and other interests in valuable real estate properties.
By understanding and balancing the different agendas and financial circumstances of the parties, I help clients maintain family harmony using a practical, strategic, and empathetic approach. My deep interest in these topics, and my ability to advocate for clients, has positioned me to achieve success for clients and to be a firm leader. When I decided to change firms, SSRGA embraced these traits.
Describe how you feel now about your career now that you’ve made partner. Achieving this personal and professional milestone has energized me to further advance the success of SSRGA. The willingness to go above and beyond for clients, to work creatively to help them achieve their goals, and to develop long-term relationships with many clients that span several generations, distinguishes my practice. I am honored that this has been recognized by my peers, who have voted me to be a New York Metro Super Lawyer annually since 2008.
What’s the key to successful business development in your opinion and how do you grow professionally while everyone navigating working remotely and in-person? It is critical to remain in close contact with business associates, clients, and contacts, and to be a good, empathetic, and discerning listener. This obviously has been much more challenging during the past two years. However, SSRGA has made it a priority to maintain both in-person and virtual collaboration and networking. While navigating changes to the office environment during the pandemic, I worked collaboratively with my colleagues to create and implement remote-work procedures to enable us to continue communicating with one another, seamlessly represent clients, and figure out when and how to resume working in the office. I also continue to support the education and mentoring of younger associates to prevent the pandemic disruption from impacting their professional development.
Who had the greatest influence in your career that helped propel you to partner in real estate? My law school professor Robert Washburn, who remains a dear friend, taught general real estate transactions, and zoning and land use law with such enthusiasm that I was inspired to learn more about the industry. Prof. Washburn selected me to be his research assistant which deepened my knowledge and experience. I have never regretted my decision. Helping for-profit and not-for-profit entities and individuals buy, sell, finance and lease real estate is enormously engaging and enjoyable. It is a powerful experience to learn from someone who deeply understands the intricacies of an industry and the innumerable nuances related to its legal environment.
What advice you could give an associate who wants to make partner in real estate? Clients want lawyers who know more than statutes and case law. They want counselors-at-law who give practical, strategic advice. Young lawyers who embrace this early in their careers and develop both the mindset and the skillset to help clients in this way will achieve the success and personal satisfaction they desire. And firms want attorneys who are entrepreneurial. I encourage younger attorneys to set goals for originating business and develop the strategies and tactics to achieve them. For example, develop a list of referral sources, and nurture those relationships. Network strategically, making sure people you believe you can help know, like, trust and remember you. And above all, have fun doing it.
To supplement my experience and knowledge, and contribute to the wider real estate community, I participate in several organizations. I encourage younger attorneys not just to join bar associations, but to get actively involved.
What challenges did you face or had to overcome in your career path and what was the lesson learned? The fascinating nature of real estate has always required flexibility to adapt to constant changes wrought by economic and other forces. But the changes and obstacles created by COVID, for the world at large, and locally, are unprecedented. Nearly all projects, business plans and day-to-day operations have been complicated by the stresses created by the pandemic. Overcoming this has required enormous endurance and patience, and above all, it has required that we stay calm and resolute. Remaining focused on accomplishing clients’ goals has helped me move through this difficult period and feel like I have contributed to the well-being of my clients, and the survival of the city I grew up in, and love dearly.
