Carmody represents developers, private equity and real estate funds, corporations and other entities in the structure, creation and declaration of residential and commercial condominiums, planned communities, cooperatives, leasehold condominiums and other forms of ownership pursuant to Connecticut’s Common Interest Ownership Act.
Whether a small residential condominium development or a large commercial development, Carmody’s decades of experience inform the creation of the most effective strategies to resolve complicated issues and structure real estate developments in a manner that creates maximum flexibility and value for its clients.
Carmody obtained the zoning approvals which were part of the subject of the Connecticut Supreme Court’s landmark decision in Alvord which holds, among other holdings, that the creation of “airspace” condominiums, planned communities and leasehold condominiums is allowed under Connecticut’s Common Interest Ownership Act.
The Alvord decision allows for a unique level of structuring on real estate developments in Connecticut allowing real estate owners and developers to avoid unnecessary subdivision and creating value and flexibility in real estate developments.
Since the Alvord decision, Carmody has structured some of the most complex and sophisticated “airspace” developments in the State of Connecticut.