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Real Talk Podcast Episode 18: Adam Leitman Bailey, Top NY Attorney

Listen to the full podcast here:

https://www.podbean.com/ew/pb-2dcdy-d198bd

This is a quote I really love by Kobe Bryant. “How can others story impact others? The definition of greatness is to inspire people next to you.  How can you inspire one person then turn to inspire another person. Our challenge is for people, to figure out how our story can impact others, to motivate them to create greatness in others. – Kobe Bryant.  Adam Leitman Bailey may have a brash facade, he’s been written up in the NY Post, NY Times, & Huffington Post, perhaps not always as a hero, but to play on the team he’s hired to protect.  Adam’s story may inspire a few of you, as we dive into his younger years of his rough childhood, being a passenger of a terrible car accident, the growing pains he’s faced as a young adult. We then go into pres

Listen to the full podcast here:https://www.podbean.com/ew/pb-2dcdy-d198bd

This is a quote I really love by Kobe Bryant. “How can others story impact others? The definition of greatness is to inspire people next to you.  How can you inspire one person then turn to inspire another person. Our challenge is for people, to figure out how our story can impact others, to motivate them to create greatness in others. – Kobe Bryant.  Adam Leitman Bailey may have a brash facade, he’s been written up in the NY Post, NY Times, & Huffington Post, perhaps not always as a hero, but to play on the team he’s hired to protect.  Adam’s story may inspire a few of you, as we dive into his younger years of his rough childhood, being a passenger of a terrible car accident, the growing pains he’s faced as a young adult. We then go into present date, where he shares his tremendous success story of suing Donald & Ivanka Trump, representing Linda Mackelowe in the most expensive divorce case in US history. (read about his bio below)

Bio:

Adam is one of the most distinguished real estate attorneys in America.  Born in Bayside Queens, he moved to California at the age of five, and later moved back to NJ where he graduated with honors from Rutgers, then obtained his law degree from Syracuse University College of Law.  Adam is an author of NYT’s best seller Finding The Uncommon Deal.”, he was selected by the Chambers & Partners publication as NY’s leading RE lawyers, and was named Super Lawyer by Law & Politics magazine.   Adam has a long list of notable cases, but to mention a few he’s represented Developer Sharif El Gamal, who proposed an Islamic mosque & cultural center near the ground zero site, where his opponents were the families affected by 9/11, politicians, and conservative media pundits. (long story short it turned into 45 park place. Adam was responsible for obtaining the largest residential condo settlement in the history of NY, as well as  successfully relieved purchasers from new developments like 20 pine, The Brompton, Trump Soho & Sky View Park.

Transcript:

Podcast with Adam and Real Takk

Adam: This is Adam Leitman Bailey and you are listening to the real takk podcast

Jennifer: This is Jennifer___ with Compass and you are listening to the real takk podcast

Steve: hello this is Steve, we’re with Wydler Brothers of Compass in the DC Metro area, and you’re listening to the real takk podcast

music plays

Takk: All right what’s up guys? Welcome to a brand new episode of Real Takk. Today, Adam Leitman Bailey, who is actually, the, one of the top attorneys in the United States, joins me. But before I go there, right now we are sitting in an awesome office space, here in financial district. On the border of Battery Park and I guess, its just a really nice office, probably about 20,000 sq. ft. really nice finishes, we’re overlooking right now, basically the Hudson river and the statue of liberty. So usually, we do these recordings in my office, in a little cave, but today we are in definitely one of the nicer, nicer places that we recorded a podcast in. so uh, just to give you a quick introduction, Adam is again, Adam is one of the most distinguished real estate attorneys in America. Born in Bayside Queens, he moved to California at the age of five, and later moved back to NJ where he graduated with honors from Rutgers, then obtained his law degree from Syracuse University College of Law. Adam is an author of NYT’s best seller Finding The Uncommon Deal.”, he was selected by the Chambers & Partners publication as NY’s leading RE lawyers, and was named Super Lawyer by Law & Politics magazine. Adam has a long list of notable cases, but to mention a few he’s represented Developer Sharif El Gamal, who if you guys read the New York Post all the time, may be familiar, he was the developer who proposed an Islamic mosque & cultural center near the ground zero site, where his opponents were the families affected by 9/11, firemen, politicians, and conservative media pundits. (long story short) It turned into a brand new condominium called 45 park place. Adam was responsible for obtaining the largest residential condo settlement in the history of NY, as well as successfully relieved purchasers from “bad new deals” new developments like 20 pine, The Brampton, Trump SoHo & Sky View Park. I cannot not go on long enough about Adam. I want him to jump in so Adam welcome and thank you for joining today.

Adam: Thank you so much for having me, I am honored to be here today

Takk: I am appreciative of your time

Adam: Feel like I’m fulfilled in life. I’m on the Takk podcast. Live

Takk: This is just the small steps.

Adam: Great

Takk: Small set. How you been?

Adam: For you. Big step for man kind and me. Stole that from someone I met on the moon. You know.

Takk: Lets start from the beginning. You, you are obviously one the top lawyers in the states. But it was not, like anybody else, success is never a straight path. There are twists and turns and curves. When you were in your younger years, describe to me some of the things that have happened. Your background.

Adam: Right so um, I um, I’ve had a really rough road. I mean it’s never been easy. And I

Takk: I mean, you didn’t come from money

Adam: No, I came from poverty

Takk: Yeah

Adam: I uh, I came from a horrible childhood

Takk: Mhmm

Adam: Every way you look at it

Takk: Yeah

Adam: And I credit that with any success that I’ve achieved

Takk:Mhmm

Adam: And I love talking about it, because most people do not come from a silver spoon.

Takk: No

Adam: Most people aren’t handed. Do not come from the Israeli army from winning a podcast

Takk: Or the develop mop parents

Adam: Or parents are developers

Takk: You’re an avid listener, this is great

Adam: Or um, I don’t get your newsletter

Tak: laughs

Adam: I don’t know why I’m excluded from that list

Danielle: We’ll be sure to add you

Adam: Fine okay

Takk: Danielle, tell Danielle, shes gonna do it

Adam: you know, I mean, You know, I’ve been uh deprived from a lot of things in life. You get used to that. You just keep moving forward.

Takk: mhm

Adam: But no I mean, when I was 5 years old, my mother cheated on my father. My parents, both my parents are teachers. My fathers a gym teacher, my moms a 5th, my mothers a 5th grade teacher. And they lost their jobs, in 1975. You can google, the ocean Ville, Brownsville strike,

Takk: Mhmm

Adam: Read all about it, and uh, there was no jobs. So my mother with a strange man took me to California. Looking for work, so I skip kin-

Takk: At 5 years old

Adam: Yup, 5 years old, I didn’t go to kindergarten.

Takk: Mhmm

Adam: And things were rough because my first landlord tenant experience, which is one of the practices we do here, was moving from house to house or hotel to hotel because we couldn’t find a place to live. Because we didn’t have any money. There was no teacher jobs in California either.

Takk: Did you understand that as a child, you didn’t have money so you couldn’t move, you didn’t have money so you couldn’t buy a house.

Adam: Yeah, I understood it because I remember like going out to eat, because there was no, you know, kitchen in some of these places

Takk: sure

Adam: so I understood always to order, the, the cheapest thing in the menu.

Takk: mhmm Wow

Adam: I remember, as soon as I can read, I remember ordering the cheapest thing in the menu.

Takk: wow

Adam: I remember cockroaches, I remember you know, I remember getting, being beaten by my step father

Takk: mm

Adam: remember really horrible things

Takk: mhm

Adam: and uh, I remember getting bullied, you know, its not a good, good idea for a 5 year old to move from New York City, Queens, to the West coast. I understand it worked out well for the karate kid

Takk: laughs

Adam: but

Takk: He went through some trial and tribulations

Adam: They didn’t put me in karate, they didn’t put me in karate.

Takk: no they didn’t

Adam: And I didn’t have Mr. Miage to teach me how to beat up the, uh, the big bullies. And they were blonde, and they were big but I wasn’t, I wasn’t

Takk: You didn’t have the proper mentors you would say when you were young

Adam: Yeah I didn’t learn how to fight. I did learn how to take a punch but I didn’t learn how to give a punch.

Takk: Laughs so what got you to move back to New Jersey?

Adam: So when I was 13 years old

Takk: mhmm

Adam: I think because my family missed their family. They, they moved back, uh to New Milford, New Jersey, uh, which is really another

Takk: Did life get better then?

Adam: No it got worse, yeah it was a really bad idea, I don’t know how it is in California now, although I did visit up until 2015. But it’s a really bad idea for a valley dude, with blonde hair

Takk: Yeah, Yeah

Adam: and you’re saying dude al the time, for a valley dude, you know, you come to movies, you know uh, Sean Penn movies, you know

Takk: Right

Adam: that valley dude, blonde hair liking the Gogos, to come back and everyone like Metallica

Takk: laughs

Adam: or heavy metal, you’ll be back at 13, to a different culture.

Takk: Yeah

Adam: In New Jersey

Takk: Yeah

Adam: Which is another tough guy culture. That wasn’t a good idea either. But it makes you very tough.

Takk: Right

Adam: Very strong and all of that helps build whatever I am today. Which is a very goal oriented, very strong minded leader, who doesn’t depend on anyone but himself, and that’s what I am today.

Takk: Mhm, would you, did you participate in sports as a kids? Were you, you’re very competitive clearly today, but obviously something, you must have been competitive as a kid because of these things happening to you.

Adam: yeah so I don’t, I never really identified myself as competitive as a child. But I did compete in the sports. I started running at the age 5, in camp. So I had to fly back every summer because of the arrangements. I flew back to camp, my dad was a counselor, head counselor in the camp.

Takk: oh

Adam: Um called Camp Shopa. And I flew back every summer. And uh I started running with my father. And I started running in events. And I realized I could run for a longtime. Me and Forest Gump.

Takk: laughs just keep running

Adam: and I ran and I ran and I ran, and we ran every day. And I ran in events. And I realized that I wasn’t really talented in most things but I love sports and I like running. It was, it felt good to be, to belong to something.

Takk: Right

Adam: so when I started 8th grade and in Milford high school, I joined the track team. I was the worst one in the team

Takk: laughs

Adam: By far

Takk: Did that motivate you, propel you, to become a better athlete? Practice more? Stay out late, longer, earlier, stay out later.

Adam: For some reason my coach, Raymond Harrison, who will become important, mean a lot, cause we have a scholarship program here

Takk: sure

Adam: and the charity we own. And all of our scholarships are called The Raymond Hap Harrison Scholarship, named after my childhood coach. So, track coach

Takk: Track coach

Adam: His job was very important

Takk: Yeah great

Adam: So he um, became very influential in my life. And he stood by me despite being the worst runner. Um he either believed in me or just kept pushing me

Takk: Saw your work ethic, saw your determination

Adam: I don’t, I don’t think he saw anything

Takk: laughs

Adam: There’s no cunning 8th graders so, it’s a team. And I just liked belonging to something. They weren’t beating me up on the team. It was like protection. You’re on a team that no one is beating you up on the team. Worked out well. So uh, no but I stuck with it. And then slowly I was, I was improving, and I didn’t, my father didn’t, never really talked about his career. But he ran in high school. At James Madison High School, Brooklyn, New York. And he ran with a guy, the track the captain of the track team. Who you may have heard of, his name is Bernie Sanders.

Takk: Wow

Adam: Yeah, he had this theory on the top, that was kind of weird though. He thought everyone should finished together at the same time.

Takk: Bernie?

Adam: Bernie Sanders

Danielle: laughs

Adam: And I said “dad, that’s socialism”

Takk: Seems like

Adam: My dad pulled out the pictures of him and Bernie.

Daniele: laughs

Takk: Seems very acute, was he the fastest runner?

Adam: He was, Bernie was the fastest runner on the team.

Takk: that’s amazing

Adam: He ran a mile like I ran a mile

Takk: You could say that if you’re the fastest runner. Because if you’re the fastest runner, and everyone’s finishing at the same time, you’re probably wining states and championships.

Adam: He did well. My father was a sprinter, Bernie was a long distance runner. My father was actually a runner in college. My father ran at Cortland college. So I didn’t know it, that it was in my genes, because my father never spoke about it. And I didn’t see him that often, because we were in California

Takk: Yeah

Adam: I didn’t actually know I had running in my blood. It was there

Takk: So a competitive athlete was always in you?

Adam: I never really felt like I was competing, cause track and field and cross country and long distance racing,

Takk: Sure

Adam: cross country, you’re finding yourself as a runner. Because the coach doesn’t really know what you are in 8th or 9th grade

Takk: No

Adam: So you’re really, we’re all, what it is is a great sport. You’re competing against yourself. And, and my coach taught me, Its you against you.

Takk: oh yeah

Adam: all you do is beat your best time

Takk: Your last time, sure

Adam: beat yourself. Its very simple.

Takk: Mhm

Adam: And then if you beat yourself, you’re getting better and better and all of a sudden you’re beating everybody else. And it gets better. So um, that worked out. And what it worked out best with is, I never became the runner that I should’ve become. I choked in the biggest meets

Takk: was this in? just in high school? Middle school? High school?

Adam: so I got, I became the captain of my track team in 10th grade.

Takk: Mhm

Adam: I mean I got a varsity letter really early. And I was already, I was a star in cross country, and track in 10th grade. And which is very odd. So I blew that ship pretty early. My junior year I was supposed to be the state champion and I wasn’t. Cause I, I choked the big meets of my junior and senior year

Takk: okay

Adam: so what it did was, it taught me how to be a great leader. Taught me how to deal with defeat. Taught me how to overcome odds. I was in a really bad car accident. Where I was in a short coma.

Takk: Right you had a bad concussion

Adam: A horrible concussion, short coma

Takk: This was in 10th grade

Adam: This was my junior year, 11th grade

Takk: What happened?

Adam: my bones

Takk: Were you driving?

Adam: So I was in the back seat of the car

Takk: Mhmm

Adam: With my girlfriend at the time. I think my first girlfriend, one of my first girlfriends in my life. Cause I was not the best looking person that I am now.

people laugh

Adam: yeah, but um, we were on our way to a party. It was the drivers one of his first, he just got his license.

Takk: Driver just got his license

Adam: and we

Takk: He was a good friend of yours

Adam: It was rainy, it was cold, it was raining and we were on our way to a party. Which is a rare thing for us, to be invited to a party. And we, went over the train tracks and we flew into a bank. Which is kind of ironic because I represent banks.

Takk: laughs Good joke

Adam: and um In Bergin hill, New Jersey.

Takk: okay

Adam: which is next to where we lived in New Milford, New Jersey. And uh

Takk: Did you have a seat belt on?

Adam: No, we were in the back seat which we didn’t wear seat belts in 1987

Takk: in the 80s. Oh

Adam: Not heard of to wear a seat belt

Takk: Who knew?

Adam: I broke bones, I had 37 stitches in my head

Takk: oh

Adam: and I um

Takk: You were in a coma

Adam: Coma was a week

Takk: Woof

Adam: So not that bad

Danielle: wow

Someone: god

Someone 2: god

Takk: that’s pretty bad

Danielle: What do you mean not that bad?

Takk: I don’t think it was not that bad

Adam: It always good and bad, I mean other words I mean

Takk: better than that

Adam: at that point at 17 years old, the best looking girl I ever dated, I met at a holy named hospital. In Teaneck, New Jersey. Because of that coma. Because I was wrapped in

Takk: A Cast

Adam: Everything was broken

Takk: Yeah

Adam: Except my legs and abs

Takk: Yeah

Adam: And I had the best abs and legs of anyone alive

Takk: laughs

Adam: Because when you run, the 70-80 hours a week, when you’re running that much. You have the best abs and best legs. But your body is tiny, you’re so skinny

Takk: Yeah

Adam: so everything else was wrapped because it was broken. Your heads wrapped

Takk: Sure

Adam: Your big nose is wrapped, But your abs are steel and so are your legs

Takk: Those look good

Adam: I got a girlfriend out of it

Takk: Okay, alright,

Adam: See there’s always benefits, seriously the um

Takk: What about the girlfriend that was in the back seat? That was a different girl then? So you, that

Adam: o no, you don’t recover

Takk: That ended the relationship

Adam: That was a short relationship, but you don’t recover from, you don’t want to have anything to do with anyone in that car anymore.

TAkk: After that

Adam: You don’t, first of all, I don’t remember the accident, and anything in that car was over, thatd over

Takk: Sure

Adam: and you’re 17 years old, girlfriend is a strong word

Takk: what do you, what does anyone know?

Adam: it was one of the greatest things that could ever happen to me. What I over came so I literally started running with casts on. The accident was like in May or June and by August I was running again.

Everyone: wow laughs

Adam: in a lot of pain,

Takk: Oh my god

Adam: with blood, every run had a lot of blood to it, all over.

Takk: I mean your stiches were coming off, falling apart

Adam: Everything was a mess

Takk: Your doctor probably said you should not do that

Adam: The doctor, the doctors were writing up as If I need mental help.

Everyone: laughs

Adam: I’ve been to a psychiatrist once, like one episode but that was during that time because they thought I was crazy. Nothing was stopping me from wining the state, the state championship, my senior year

Takk: Yup

Adam: cause I choked my junior year

Takk: Mhm

Adam: and I was gonna, and I knew if I didn’t run during the summer, I wasn’t going to win

Takk: Right

Adam: I was determined to win

Takk: So you ran in the summer with a cast on

Adam: right, ran with the cast on , two casts

Takk: Did what you had to do

Adam: My legs were fine

Takk: How was your head then?

Adam: my head?

Takk: Yeah cause you had, I am sure you had stiches, you had swelling, you had

Adam: I had to drop all my honors classes, I was in, almost all honors classes, if not all honors classes and I had to drop them

Takk: You missed too much school

Adam: They put me in remedial classes. I missed a semester of school, my junior year. Um they passed me through but I missed a semester. You think they just carry on my grades for the semester

Takk: How did that make you feel then? When you had to drop down then?

Adam: I was the happiest person alive, because I was

Takk: alive

Adam: alive

Takk: Yeah

Adam: because I was alive. They told me I was lucky I was alive. If I had hit the windshield

Takk: uf

Adam: Broke the glass

Takk: Jez

Adam: You’re lucky you’re alive, you’re the happiest person.

Takk: yeah

Adam: and I was able to run

Takk: Yeah

Adam: and uh, I read a lot of books and had to get my grade back

Takk: when you get, when you got to law school, why did you decide to go into law where you wanted to be successful, you could’ve done wall street, you’re right in New jersey, You could’ve gotten into some engineering work, why law?

Adam: Remember my parents are teachers

Takk: Yeah

Adam: I never met a lawyer before period, there’s no lawyers in New Milford, new jersey that I knew about

Takk: hmm

Adam: And if they’re there, I still haven’t met them

Takk: sure

Adam: If you go to New Milford’s Wikipedia page, its just me and Ed maranato. I think listed

Everyone: laughs

Adam: He was on Hillstreet Booze and he played pro football

Takk: uhuh

Adam: really nice guy

Takk: Yeah

Adam: but its not the town where you go to, to become a lawyer or wall street hedge funder

Takk: sure

Adam: or anything else

Takk: Right

Adam: it’s a middle class, it’s a street, town, it’s a little cast town, it’s a great person town.

Takk: Great town, blue collar but nobody is there

Adam: Blue collar, but you’re not there to become a hedge funder

Takk: Hedge funder

Adam: So I didn’t know anything about wall street. I wouldn’t know what wall street was if you said it then, um I did read a book in 7th grade about John Peter Zenger. John Peter Zenger in 1735 was arrested as seditious liable. He said bad things about the king’s British governor Bill Cosby. No Relation to

Takk: to the Bill Cosby

Adam: the comedian and other things later on and they brought in the best lawyers, back then were not from Adam Leitman Bailey P.C or another law firm

Takk: Yeah

Adam: or any stupid chance to plug our law firm, right.

Takk: laughs

Adam: Including Astoria about why you pick law? So the best lawyers were Philadelphia lawyers, the famous phrase, you know from many movies

Takk: Yeah

Adam: Philadelphia, best lawyers

Takk: Yeah

Adam: So they brought in the best lawyer at the time, Andrew Hamilton, to come represent John Peter

Takk: There he is

Adam: For saying bad things about Bill Cosby, and I read a book on it. And his printing press is at federal hall right now, John Peter Zenger

Takk: Okay

Adam: and, no, that’s Alexander Hamilton

Takk: Alexander

Adam: its there cousins, I don’t know about. Andrew Hamilton came from Philadelphia

Takk: Yup

Adam: Comes in, and leaves his words, and they speak to a jury of people born in this country. They were an American Jury cause this is 1735

Takk: Yup

Adam: not 1776 and they acquitted John Peter Zenger. Even though truth wasn’t a defense to liable yet.

Takk: MMm

Adam: In fact, the same place where they had the trial which is where federal hall is at right now

Takk: mhm

Adam: the same place where we had the launch of my book on how to buy a first home

Takk: sure

Adam: Finding

Takk: Finding the uncommon deal

Adam: uncommon deal. Good. See I had it there on purpose. It’s the same place where they signed the bill of rights. That actually gave you the right to have the first amendment, which helped John Peter Zenger. This lawyer used his words to free John Peter Zenger. And I loved the way someone could use words to be powerful and help people

Takk: Yeah

Adam: my thing of I cannot see end in justice, still today I can’t stand it. I fight for peoples rights and sometimes as we know of one instances, I went over the line but I can’t stand the justice I fight for peoples rights and that’s what I’m paid to do.

Takk: mhm

Adam: and I love that. And I love for standing up for peoples rights. And I love doing the right thing. And I love the power of what lawyers could do. And that day I fell in love with being a lawyer. And then soon then after I remembered, I can’t be a lawyer because that’s for rich people. And law school cost a lot of money

Takk: Yes

Adam: So I had it in my mind that I wanted to be a lawyer and then I put it on hold because I have to be a journalist because I can’t be a lawyer because that’s for rich people

Takk: Mm

Adam: That was the goal. And all these other professions are naming about how to be rich, I never had a goal of being rich either. Even today, being rich was never my goal. The goal was to be

Takk; not be

Adam: to be able to feed my family and myself but to have meaning in life and to help people, that was always my goal

Takk: How did you put yourself through law school? Did you end up taking student loans? Work after?

Adam: $120,000 dollars of loans

Takk: did you, how did you do that?

Adam: and I worked

Takk: Applied through school?

Adam: I learned about loans, I applied, and they paid for almost everything

Takk: okay

Adam: and then I worked in the side

Takk: good good

Adam: I worked for (Barbrive), and I got a free bar review class

Takk: laughs

Adam: And then I tutor, I mean I did all kinds of jobs

Takk: Yeah

Adam Everything and anything that would pay

Takk: Good good

Adam: I taught the SAT for Kaplan during college so I would teach kids how to study for the SATS

Takk: Did you miss the SATs when you were in high school?

Adam: I don’t have any memory of that

Takk: laughs yeah the school system is all different to, some of the younger kids probably don’t even know how the was school vs the 90s vs the 2000s vs the 80s so. But that’s good to know, you always had that hustle mentality. What ever it takes to achieve your goal, whether, regardless of the obstacles, whether its financial, whether its times, whether its personal thinking. The moral of the story is, there is always a way to find the end, its just, its never a straight path. And that’s what I’ve seen with Adam based on his reading his back gourd. Lets switch gears a little bit. After graduation, it still wasn’t easy for you, you got, you passed the bar, you’re a lawyer now, but now what?

Adam: So I graduated Syracuse Law, one of the most incredible law schools, with one of the most incredible educations

Takk: Mhmm

Adam: and I am so glad that’s the school that I went to. Um, I did really well in college, but I didn’t do well on the LSAT. But I was so happy that I went to Syracuse because the education couldn’t be any better. The school was known for its trial programs, I wanted to be a trial attorney, I wanted to do real estate. I loved real estate classes, I enrolled property classes, and I did a clinic called the housing of finance clinic with my professor Debra Kin. Who uh, featured me in the chapter of her book later on. And um, we’re still close friends today

Takk: mhm

Adam: uh, I just fill in love with real estate. And I loved the fact that it was such intellectually stimulating, especially in New York City where you have to find, find how to 8 million people living in one city and all the fascinating regulations on how to allow people to function

Takk: Sure

Adam: together

Takk: Yeah

Adam: and then litigation I just, uh, I was on a special all-star team called the moot court team. So I knew I had a naturally ability to um ligate and persuade. And um those two came together. Litigation and real estate, and uh, and Syracuse was the top school for litigation

Takk: Sure

Adam: That I understood to be

Takk: Yup Yup

Adam: And I had a teacher, professor called Travis Luin that was considered the best professor in the nation for litigation, I made his all-star team called moot court team

Takk: Mhm

Adam: and uh that just uh, I just got very fortunate and lucky. Um to do that

Takk: to join that team

Adam: Right

Takk: and was able to

Adam: So of course, I come out and I get a job right away and no that didn’t happen, my life doesn’t go that easy

Takk: laughs never that easy

Adam: No

Takk: was it

Adam: it was nice months

Takk: Nine months?

Adam: Nine months to get a job

Takk: what, was it bad economy then?

Adam: Top 20% of my class

Takk: yeah

Adam: I’m in the special trial program, should be getting a job really easy, and no, no one would hire me. But then again, I turned down offers because I wouldn’t do personal injury

Takk: Mhm

Adam: I didn’t have the stomach for it. I wouldn’t do family law, I mean I cry all the time in movies, its real easy

Takk: Hah

Adam: so I couldn’t handle that and I really wanted to do real estate and I really wanted to litigate

Takk: right

Adam: and finding those two together wasn’t going to work, I wasn’t really made for the big firm. I was made to fight for people rights. So

Takk: thinking about a cultural thing is what you’re saying

Adam: I don’t know, its just, their just J Gatsby, F Scott Fitzgerald wrote, the rich are different from you and me, you know, it’s a club

Takk: Yeah

Adam: and uh, when you have my background, think about it, I don’t have any connections.

Takk: Right

Adam: Zero connections

Takk: No country club mentality from Connecticut

Adam: There’s no one from New Milford, New Jersey that became a lawyer.

Takk: hehehhe

Adam: I’m the only one

Takk: right, right

Adam: No country clubs, I never heard of no country clubs

Takk: right, you didn’t know the word brunch until you were probably in your 20s

Adam: I knew brunch, I knew the word Brunch but I had never had sushi before

Everyone: laughs

Adam: and I definitely, and I learned a word, what was the word, caviar, I never had caviar up until much much later

Takk: I love it ok,

Adam: so I

Takk: yeah

Adam: and private school, I never met anyone from private school yet. So I uh, I was different then the richer are different from you and me. I was definitely; I wouldn’t have hired me either

Takk: Tell me the story about, you had met one attorney that attorney took you out for lunch and you were nervous. He said a word that you weren’t familiar with. You ordered

Adam: I made a mistake

Takk: laughs this is great

Adam: I made a bad mistake, so my dad somehow knew an attorney. Dad the gym teacher,

Takk: Yeah

Adam: my dad who told me never become an attorney because its too risky. My dad who said become a teacher like all of us, my whole families is teachers

Takk: Its safe, secure

Adam: my grandparents were the secretary of board of education, my stepparents, my parents all teachers

Takk: Yeah

Adam: my sister, two sisters, teachers, everyone’s a teacher, why don’t you get a substitute license, you can’t get a job

Takk: laughs

Adam: Adam you weren’t made to be a lawyer, we never had a lawyer in our family before, how can you be a lawyer

Takk: Yeah

Adam: so he finally gets someone to take me to lunch, of course that guy is now in jail, he’s a convicted felon

Takk: O god

Adam: Not kidding

Takk: I did not know that part

Adam: But he found someone to take me to lunch, finally had my first connection. I was just so honored that someone would take me to lunch. He’s in long island

Takk: uhuh

Adam: I go out there, wanted to fit in so he orders a drink, I think he probably said the word Perrier.

Takk: laughs

Adam: I thought he was ordering an alcohol beverage I wanted to fit in so I think I order the Gin and tonic. He says o that’s interesting

Takk: we got a party animal on our hands

Adam: so then that was the end of getting that job

Takk: o boy

Adam: I guessed he ordered some French water and I ordered a hard drink at an interview. And yup I didn’t get that job

Takk: the, the irony of the story is, you’re not really a drinker

Adam: I don’t even drink

Takk: you don’t drink

Adam: I mean, I will drink socially, like if I go out and anybody is ordering a drink, I will drink uh socially.

Takk: mm

Adam: but um I’m not against drinking, I’m all for having a drink, but most of the time everybody is drinking, I’m going to be working when I get home

Takk: I get it

Adam: like when people go out

Takk: I totally understand

Adam: to dinner, I’m going back to work

Takk: yeah yeah

Adam: so its very rare, that I’m getting drinks, I cannot work on a drink. I can maybe one glass of wine and still work but its still not as affective

Takk: you’re not as sharp

Adam: Right, I need to really be sharp. Getting drunk is never happening because then I’m not as good the next day, and I need like for my trial on Tuesday, I need to have everything together. We need to be perfect. We have a multimillion case on the line and we better be the best we can possibly be. Remember, I’m not just working, I’m working on cases, I’m also writing

Takk: Yup

Adam: I’m writing, I’m in the middle of writing a book, its 2,400 pages.

Takk: Okay

Adam: with 34 authors

Takk: great

Adam: and I’m the co editor in chief, its real estate law

Takk: mhm

Adam: real estate lawyers for rest of the lawyers

Takk: Okay

Adam: So I’m really trying to improve, I’m trying to improve real estate for all of New York.

Takk: got it

Adam: Not just for or firm but for all of New York

Takk: Mhm

Adam: Which is very important

Takk: right

Adam: to improve our community, to improve New York

Takk: For the audience let’s talk a little about today topics, maybe some cases that you’re working on now but also some of the wins, you’ve had in the past. We talked a lot about your losses so we know, we know, you got beat up. What’s some of your thoughts? First topic I want to discuss is when you first began your real estate career, attorney career; you were an l and t attorney, a landlord tenant attorney, correct?

Adam: Well I, well the first firm was called Winnick and Winnick and we did real estate litigation

Takk: mhm

Adam: And we did real estate transactions

Takk: Okay

Adam: so we didn’t do landlord tenant yet, and I was at that firm for two years

Takk: When did you shift into that?

Adam: So I realized after two years, I said, I can’t complete my real estate training. I was a young Jedi and I can’t complete my real estate training, unless I learn landlord-tenant

Takk: yeah

Adam: so I actually only left the law firm, and I love that firm, and I’m still in touch with my former boss

Takk: Great, yeah

Adam: I can’t complete my Jedi training and I went to a landlord tenant firm

Takk: Correct

Adam: So I lived a, I researched the best landlord tenant firm in New York at the time. And I found it and I applied to them. And I got the job, and then, and then I worked there for a little over 2 years, or 2 years and uh then I started my own firm

Takk: How many cases did you think, did you, would you say, how many cases did you have at that l and t firm? How many times did you go to court?

Adam: Um, everyday

Takk: Everyday? Okay. So you have a lot of experience in this? The publications out there, they don’t really talk too much on your l and t background. At least online when you, you initial google search on you

Adam: Right

Takk: But more about everything in the real deal and what not. But not so much l and t now. I want to touch on this for a few minutes. because Its very important, not, if the listener right now is in real estate but if they’re living in New York City. So the legislation, Albany changed a lot, last year in the summer.

Adam: You think

Takk: And

Adam: I’m just kidding

Everyone: laughs

Takk: It basically flipped the rental game upside down. Now it effects everybody in different ways, if you’re a stabilized tenant or rent controlled tenant, it effects you tremendously. But if you’re a landlord, it also affects you, a free market landlord, owning one condo or one co-op, it also effects you as well. Long story short what are your thoughts on the effects of rent control and rent stabilized tenants? And are you more pro landlord about that, about the law change, or pro tenant about the law change? And also the second part of the question is, what about for the individual condo or co-op owners who aren’t making that much money to begin with, are now at higher risk because of the laws changed?

Adam: Okay, that’s a complex question but I’ll

Takk: Two, two part question yeah

Adam: It’s more like six but I’ll

Takk: Six laughs

Adam: So um, we represent landlords and tenants

Takk: Both

Adam: But most of the tenants we represent are extremely wealthy just to be blunt

Takk: Mhmm

Adam: Or the tenant

Takk: Oh because they hire you, they’re wealthy?

Adam: Because when the tenants are hiring us, they’re usually co-op share holders

Takk: Mhm sure

Adam: Or tenants that have a lot of money that want to keep their apartments

Takk: Right

Adam: Or the tenant associations where there are a group of tenants hiring us

Takk: Mhm

Adam: On the landlords side, there are landlords that just want to win

Takk: Yeah

Adam: Okay, so remember the law, hurts tenants sometimes even more then it hurts landlords

Takk: Even if the law is meant to protect the tenant

Adam: Right, but it doesn’t protect them

Takk: How so?

Adam: Let me give you an example, the law says that you can’t deregulate apartments anymore, meaning that you can’ t take them out of rent regulations

Takk: Cannot

Adam: Right, so three times this week, we got, we received calls from tenants and one of the major ways we use to make money, we call buyouts.

Takk: Yeah

Adam: Where a tenant would want to leave their apartment and the landlord would give them sometimes an average of a million dollars to leave, so I got a call from one tenant, who I won a case for, a major case for, 10 years ago. And they said “my wife is having trouble hearing, um we need to move out”

Takk: Sure

Adam: And I go did you hear about what happened in June?

Takk: Yeah

Adam: The 14th?

Takk: Yeah

Adam: They go “no we don’t turn on the internet, we’re scared of it”

Takk: laughs

Adam: um uh I mean you’re going to get like $10,000 dollars. You mean we’re not getting a million dollars that they offered us10 years ago. No, uh

Takk: That ship has sailed

Adam: They started crying, the average rent regulated tenant is 68 years old

Takk: Yeah

Adam: If you’re on a fourth floor or third floor walk up, how many years you think they’re gonna walk up for flights of stairs

Takk: Nope

Adam: With groceries?

Takk: No

Adam: They, They’re getting hurt the most, because they don’t have their meal ticket to go buy a place in Florida, with the money they would get here

Takk: 100%

Adam: So you’re hurting them the most, so these tenants at 68 years old may need to move to homes

Danielle: Yeah

Adam: Or somewhere else, they’re not getting $10,000 dollars to leave 20. So they’re getting hurt really badly. Laws don’t help these tenants, the, the laws that were passed didn’t think about the tenants, I don’t know what, what they were thinking about

Takk: Why was it passed then? Who did it benefit really? The younger stabilizers?

Adam: It’s a really long story for why it was passed, which I could get in to in a different

Takk: In a different episode

Adam: But, not today, but bottom line is, it wasn’t thought out

Takk: Yeah

Adam: And they, it should be changed immediately, but when I speak to the legislatures. Because I’m friends with all of them, I mean not friends, but either friends or acquaintances, or you know, we use to donate to all their campaigns at a certain capacity

Takk: Sure

Adam: We have fundraisers here all the time because obviously when you see its 26 sq. ft. of beautiful space

Takk: laughs I said 20,000 sq. ft., I was wrong

Adam: No, no I was just saying

Takk: Its 6 more thousands

Adam: It’s a beautiful space for fundraisers

Takk: Very

Adam: So, and their goal is to keep the rent low. Rent is too damn high,

Takk: Too damn high

Adam: I thought, I agree with them, if you want to control rent to keep them down

Takk: Yeah

Adam: Fine do that

Takk: Yeah

Adam: But what they did, by stopping rents from being decontrolled, is you’re taking away the tenants ability to move to homes that they

Takk: They could afford

Adam: and get the care they need, now because they’re already tenants at 68, its very few tenants that are younger, cause they have succeeding tenants, tenants that pass their apartments on to their kids doesn’t usually happen

Takk: No

Adam: Cause the kids don’t want to live with their parents for two years

Takk: No

Adam: Like they have to do, so when they go to college, when they go to Lehigh

Danielle: laughs

Adam: to Lehigh graduates of

Takk: 3 actually, sorry

Adam: You went to

Takk: I did as well

Adam: I didn’t know, congratulations, great school, great school

Takk: All these connections, real estate

Adam: We got Lafayette

Takk: Lafayette, there you go, that’s right, that’s right, she was just there

Adam: O that’s right, recent game, good for you, second last game of the season

Danielle: Yeah, I remember

Adam: Yeah

Takk: Yeah you, you know, you know it all

Adam: You gotta, gotta know your stuff

Everybody: laughs

Danielle: On top of it

Adam: So um, they ,they, the law, if you want to limit rents fine, but don’t hurt the people in the process, so allow deregulations, allow tenants to be deregulated and then you give landlords bonuses for improving apartments

Takk: Sure

Adam: That gives middles class people jobs, like my family

Takk: Yeah

Adam: Gives them jobs

Takk: Yeah

Adam: I am one of six, my families jobs, contractors jobs to build, build up these places, instead of leaving them to rot

Takk: Yeah

Adam: So that gives jobs, it gives incentives for buyouts and helps up a lot. If you want to put on control and limit, you know the rent, to 5%, fine, that’s really the tenants biggest worry, is to be priced out of Manhattan

Takk: Right

Adam: I understand that

Takk: Right

Adam: Go do that, but you’re hurting the landlords and tenants a lot by doing that

Takk: Right

Adam: And even that’s bad for the landlords, because what you need, I mean, almost all my clients are no longer investing in Manhattan anymore or a lot of them.

Takk: The multi-family market is dead

Adam: Right

Takk: Its dead, yeah

Adam: Its thawed, Its dead, its thawed

Takk: Mhm

Adam: But, the, the number one reason isn’t so much these laws, even commercial is thawed out right now

Takk: Yeah

Adam: But, it’s not just these laws, its one thing you need as an investor. And if you’re a government, its one thing the average citizen needs.

Takk: What is that?

Adam: In a country, in every country in the world, and that is credibility, stability, dependability of this future

Takk: Yes

Adam: Those three, and if you have those, you’re gonna believe in your government. And when you don’t believe in your government, people are gonna run, and right now, they’re not believing in New York. And its really scary out there

Takk: What do you think about amazon getting kicked out? Its such a policy driven state, New York, I’m not just saying we’re socialist, but New York is a policy driven state, where businesses get pushed out

Adam: So it was, it was a horrible thing when not only did they get pushed out, but we treated a business,

Takk: Yeah

Adam: That when we’re saying we hate landlords, we are saying we hate businesses

Takk: Businesses

Adam: We hate, our government hates businesses

Takk: The landlord job is not easy, this, this is a family business, it’s a multi-family business, it’s a read, I mean these are businesses

Adam: Yeah

Takk: Pension funds, yeah

Adam: But amazing thing is that even with that all the major colleges still came and built, all the major business, even our that came in, still rented,

Takk: Couple thousand feet

Adam: Still small but

Takk: Mhmm

Adam: Google

Takk: Facebook

Adam: and LinkedIn, and all the others, they still came big time

Takk: Mhm

Adam: the businesses are still coming, why? Because we build vertically here

Takk: Mhm

Adam: When you build vertically, the talent is here

Takk: Yeah

Adam: And the businesses need the talent, as much as the government is kicking you in the teeth, they’re still coming, so it’s just amazing. As badly as you’re treating us, we’re still coming back for more. It’s like the person is beating the spouse, and the spouse is still coming back for more

Takk: Coming back for more laughs

Adam: It’s disgusting

Takk: It shows resilience

Adam: It shows resilience but it just shows, its, its gotta be changed

Takk: Sure

Adam: On the negative side, they’re coming back for more but they’re just going to get beaten up again, until we show decay and problems

Takk: Yeah

Adam: But we haven’t mentioned, is even the bigger problem, people will not stay in New York if crime goes up. They just changed the criminal laws where you can’t keep people that are on bail

Takk: reform

Adam: Its very difficult, and they changed other laws where if someone is a public danger to society they can’t get served as a factor to keep him on bail

Takk: Yeah

Adam: Criminal laws have changed

Takk: Yeah

Adam: Its very hard, hard to even convict someone of a crime now, unless they’ve done something severe so

Takk: They just let’em go

Adam: So uh, it’s gonna hurt New York as well

Takk: Sure, Sure

Adam: We’re in for some trouble

Takk: We’ll see what the future holds. I want to switch gears now because I know you have to run soon, but you had some really interesting cases that hit the newspaper as of late, one that really, one in particular that many of you heard, in the one actually I’m really interested in hearing, learning more about, is the Macklowe case. Where you were representing, believe the wife

Adam: Linda

Takk: Linda, in the 432 Park property.

Adam: We represented her, in her divorce, believe or not we were on a divorce team.

Takk: Mhmm

Adam: I personally did the trial on the apparent case

Takk: Got it. And this is one of the most expensive cases of the divorce history

Adam: No, it is the most expensive divorce case

Takk: Well we have Bezos, Amazon, Divorce cases, it’s a big company

Adam: No, this one went to trial, Bezos didn’t

Takk: Bezos didn’t go to trial, so this was the most expensive case that went to trial. So uh tell us a little bit about how, in what capacity you were working with Linda, uh what, some of your strategies and work you’ve done on that trial

Adam: We came in, in the middle of the divorce trial

Takk: Mhm

Adam: Without, reasons I can’t go in to, what we realized, when we first came in, was this is not a divorce trial. Cause, they were married for 30 years, it just couldn’t be, it was a matter of math.

Takk: Uhuh

Adam: It was a matter of assessing assets

Takk: Yeah

Adam: they’re wealth. It was a real estate trial. Its assessing real estate. And one party wants the real estate to be worth as little as possible and one side wants it to be much as possible

Takk: laughs Sure

Adam: So it’s a matter of how good are you at assessing math, at assessing real estate

Takk: Sure

Adam: So we realized, I realized that the real estate attorney were at one pint divorce attorneys

Takk: Interesting

Adam: Its not just about divorce, its about real estate

Takk: Sure

Adam: On the apartment

Takk: So you didn’t get involved in, they have multiple home about they also had a discussion about art work and obviously financing, bank accounts, several counts of money here and there, did

Adam: No, so, I gotta be careful because its attorney client privilege

Takk: Sure

Adam: Remember, everything is really simply, your, you need experts to asses everything and tell you the value

Takk: Yeah

Adam: And one party wants it to be as high as possible and one party wants it to be as low as possible. We only know real estate

Danielle: Mhm

Takk: Yeah

Adam: So, remember Harry Macklowe is a genius, okay

Takk: Indeed

Adam: I was quoted in the New York Post calling him a Shyster in the trial

Takk: Uhuh

Adam: Okay, but he’s a genius

Takk:Yeah

Adam: He is also one of the funniest men; you’ll ever meet in your life

Takk: I heard he had some really funny comments that during the trial, and out of the court house

Adam: He is hilarious

Takk: Yeah

Adam: And uh, and they had one of the greatest love affairs of all time, they, they really did

Takk: Uhuh

Adam: And everyone should be so lucky to have such a great love affair, but um, I’ll give you one story that most people don’t know which is disgusting. So we won my trial

Takk: Mhmm

Adam: She got to make the decision to keep the apartment, she got to keep the apartment at 432 Park

Takk: Yeah

Adam: it was her choice, she could either get her money back or actually close on the apartment.

Takk: Mhm

Adam: Harry was very unhappy about that, cause Harry, Harry is very competitive, and I was very happy she won. Because when you’re worth billions of dollars, it doesn’t really matter

Takk: a million here

Adam: Right

Takk: A million there

Adam: matter, winning or losing

Takk: Right

Adam: People, it was public, it was the front pages of the divorce,

Takk: Yeah, multiple times

Adam: At, well, every day, it was on the post, a picture, of Harrys new wife

Takk: Yeah

Adam: Did you see where they put the picture?

Takk: No, I don’t remember

Adam: Of her on the building

Takk: 432 Park?

Adam: They put it on the apartment we won the case on, the picture

Takk: O wow

Adam: Kind of disgusting, you’re married for thirty years and just because we won the case, they put a picture of her on the apartment that we won

Takk: Wow

Adam: Its kind of disgusting after 30 years that you do that

Takk: Jez, they said revenge is best served on a cold dish

Adam: that never made the paper, the picture did but the reason didn’t

Takk: Right but the story behind

Adam: First, first heard on the Takk podcast

Takk: Real Takk podcast

Adam: Real Takk podcast

Takk: What was your take away? What did you learn? I’m sure you learn in every trial, what was your take away from that trial?

Adam: I knew Harry was a genius; I dealt with Harry many times

Takk: Many times

Adam: In fact, I have an ongoing lawsuit with him at the time,

Takk: oh

Adam: I’ve been with several lawsuit with him for a long the years. Um, yeah, we know, it’s like um, dating, dating on the office, we have lawsuits constantly

Takk: Yeah, yeah, sure

Adam: He is always helping me make a lot of money, appreciate it, so thank you Harry, if you’re listening

Takk: But did you have a specific take away from that one specific divorce case?

Adam: It’s not that, it’s not that I didn’t know it, I just learned that money isn’t it’s a cliché, money isn’t everything, you know. And um, I did learn something very deep, and meaningful about how money isn’t everything. And how important money is to some people

Takk: Mhm

Adam: But I can’t tell you why because of attorney client privilege

Takk: Right, sure

Adam: But I learn something very, very deep, that I can’t talk about. But it was so deep, that’s it’s really affected me since.

Takk: Okay

Adam: And I wish I could talk about it but

Takk: Okay

Adam: But that attorney client privilege thing, I have to take it to the grave

Takk: You do, you do

Adam: You know I get bruises sometimes because my wife hits me so hard, cause all of sudden, she will be reading the paper or something, never on the paper, but online. And she’ll see my name, that I’m representing blank. And she’ll stat hitting me “You represent!” like it’s her favorite actress or something.

Takk: Uhuh

Adam: “You’re representing blank, this, and that, some guys, some actor”

Everyone: laughs

Adam: “Blank this and that, and you didn’t tell me!” And then I’m like, I’m not allowed to honey.

Takk: Yeah, Yeah

Adam: (making sound affects) Twish twish twish, you didn’t tell me that

Takk: Yeah, I am sure that, there are a lot of situations that you are put in, that you are uncomfortable and can’t talk about it anymore

Adam: I feel fine, I feel

Takk: Its part of your life

Adam: Keeping secrets is my trade

Takk: Sure

Adam: And I have no problem keeping secrets

Takk: Uh, a few more minutes here, uh, I did want to talk about uh, another interesting case with Trump. That you

Adam: Who’s he? I’m kidding

Takk: You had an involvement with Trump

Adam: Trump SoHo

Takk: Yeah, we’ll not that he is president, hot topic but

Adam: It was really wild, because I represent the Kushner family.

Takk: Yeah

Adam: And I’ve been representing Jared Kushner since 2002 and I had him on trial when he was a young boy, a young kid. I don’t read people magazine

Takk: I don’t, really, not many people

Adam: I don’t read any of the us magazine or any of those

Takk: E tv, or

Adam: So I sued Ivanka, Ivanka goes onto the Apprentice and she announces that Trump SoHo is just about sold out, or sold out, or whatever

Takk: Yeah

Adam: And we discover right away that only 15.8% sold out

Takk: Woof

Adam: And by the way that case changed brokering

Takk: Dramatically, marketing

Adam: Forever, never again has a brokerage ever exaggerated sales in any development thanks to the Trump SoHo case.

Takk: Yup

Adam: That stopped it

Takk: Yup

Adam: But at that time people were exaggerating

Takk: Mhm

Adam: So I get a call from Jared, and he is screaming at me, and screaming. And I’m like “Jared, I didn’t even know you guys were dating. I had no idea, how would I know these things!”

Takk: laughs

Adam: “Its on every” “I don’t read these things” I had no idea

Takk: Well you read the Post

Adam: I don’t even read the Post

Takk: You talk about the Post all the time

Adam: I don’t even read the Post

Takk: Okay, alright

Adam: I read the Post if I’m in it and I don’t even like being in the Post

Takk: Alright so you read the Real Deal, and that’s about it. You read

Adam: I get the emails of the Real Deal, I read it, I’m reading the Post if I’m in it

Takk: Yeah, so Jared is mad

Adam: I mean no no, I just didn’t know, and once I’m representing clients. Once I represented a group of people that had put down, down payments because they relied on, you know, a lot of Europeans, some famous soccer players

Takk: Yup Yup

Adam: Some famous people that weren’t even named

Takk: Sure

Adam: Lot of big leagues, and the group of people, 30 people, they wanted their money back because they thought it was almost sold out and they went crazy. So, I, the group was organized they hired me. I organized the group, they kept calling. Cause I was known, I was known first for, when buildings were built badly, I became the IT attorney for getting them fixed. Then in 2007 forward, I found a statue that no one had ever used before in New York called the Interstate of __ of Disclosure Act for getting people out of contracts. Which I didn’t really do that much of.

Takk: Mhm

Adam: I mostly got them discounts where the banks pulled the funding on the ability people to buy homes and I, we’re still doing this today. Just doing it quietly because we have people sign a confidently cover.

Takk: yeah

Adam: We found new ways today

Takk: Yeah

Adam: But we found ways, we found the statue that allowed people out of their contracts. What we really did was we got 40% off, that, that matched with the bank would give them in lending, and they closed their property

Takk: Closing anyway

Adam: That’s what happened mostly

Takk: Perfect

Adam: we had more closings here then anywhere else

Takk: Yeah

Adam: I believe, I mean,

Takk: At the time

Adam: I may be wrong in that but

Takk: At that point you were doing bulk closings

Adam: We were doing lots of closings. So um, that lead to um a lot of other cases like Trump SoHo. Where we sued the Trump family, but I immediately saw this was criminal fraud. So I contacted the DA’s office

Takk: Mhmm

Adam: And they started a criminal case and then Ivanka was brought down with the boys and that made everyone crazy

Takk: Did you have to dealings with Michael Cohen then? Was he involved?

Adam: Yeah so I was in touch with Michael Cohen right away

Takk: Wow

Adam: Now I’ve always like Michael Cohen, I’ve known him for years

Takk: Is that right?

Adam: He always been a straight up guy

Takk: Interesting

Adam: We’ve done, I mean I’ve sued the Trump family like six times, small stuff, like landlord tenant stuff

Takk: Okay

Adam: And

Takk: So Michael Cohen is involved with all of those?

Adam: No, very few. Michael Cohen didn’t get involved with the Trump family, I think until 2008, 9, 10

Takk: Okay

Adam: He wasn’t a 20 year attorney like people think, he was a recent A attorney to the Trump family

Takk: Got cha

Adam: In 2008, 9, 10 he was involved

Takk: Mhm

Adam: So but he was always a straight up, I knew him as a taxi medallion attorney, cause I represent taxi king

Takk: There’s a guy yes

Adam: The Taxi king

Takk: Yes

Adam: So I knew Michael Cohen, and he would be in small time cases not associated with Trump, some with Trump

Takk: Got it

Adam: so I did

Takk: (Talks over)

Adam: He was not involved in Trump SoHo

Takk: Got it

Adam: He was not involved with Trump SoHo

Takk: Got it

Adam: But a lot of other people were

Takk: Mm

Adam: and um that case started and it went on. And um I sent it to the DA right away. And they jumped in right away, I mean I didn’t hear from them for a long time and then they jumped in. But I settled the case. And once I settle the case, I keep my word. Part of my word was, Once I settle with a case, I’m not cooperating with the DA

Takk: Right

Adam: And I agreed as part of the settlement, to write a letter to the DA, I don’t think this is a good criminal case. I have no idea, I’m not a criminal attorney

Takk: Right

Adam: I don’t

Takk: Can’t really get involved in it

Adam: So Vance, the DA, Vance, when they asked him why he didn’t prosecute the Trump family. He blamed on Adam Leitman Bailey.

Takk: Wow

Adam: Public, then I released a letter,

Takk: Right, it became a fight then

Adam: or someone released a letter

Takk: Right

Adam: I guess Trump released a letter. Trump, saying, which is only two sentences or the Real Deal released that wherever they got it from. Maybe me, maybe them. I don’t remember but it didn’t say anything. But Vance blamed me for not prosecuting them.

Takk: Uhuh

Adam: Like I’m a criminal expert, Like I know. So it was kind of weird,

Takk: Yeah

Adam: And then Um, no one went jail

Takk: Good, it all, all ends well. So

Adam: Its creative lawyering, When you get a case, many lawyers just go through to motion, file

Takk: Yeah

Adam: Hope it goes well. We’re looking outside the box

Takk: Yeah

Adam: We’re here fighting for our client zealously and doing whatever it takes to win. Ethically and legally.

Takk: Mhmm, clearly

Adam: on the top broadcast

Takk: you hear it clearly, on the top podcast

Adam: Podcast

Takk: Really

Adam: Should be a broadcast, because it should be on TV anyway

Takk: I really liked the passion Adam has. Especially when he talks about cases. You can see the voice level go up a little bit. So his octave is a little bit higher. And you feel the passion and the intensity immediately. Couple of questions, rapid fire, okay. These are rapid-fire questions

Adam: Mhm

Takk: If you had a million dollars cash right now, to invest in real estate, what would you buy, where and why?

Adam: New York City, Upper East Side

Takk: Okay

Adam: Multi-family

Takk: Well not for a million bucks you can’t buy, maybe for 5 million

Adam: Stay tuned

Takk: okay alright. Stabilized

Adam: Stabilized, its always stabilized

Takk: What about if you had 5 million? What would you buy?

Adam: same thing

Takk: Same thing, maybe a couple more

Adam: Exactly

Takk: Okay

Adam: I believe in New York and I believe in our relation

Takk: Good, where do you live now? What neighborhood do you live in?

Adam: I live in uh, Upper East Side

Takk: Upper East Side, okay so that’s your full time residents, good, so you’re a true Manhattanize. And uh favorite restaurant in New York City?

Adam: My favorite restaurant is _

Takk: In which neighborhoods?

Adam: Wherever it is

Takk: Where is that?

Adam: Great Wi-Fi,

Takk: You can still work

Adam: I love healthy food, and um the great lattes there

Takk: Okay good that was my next question, I was going to ask, most people I ask what’s your favorite bar? But since you don’t drink, you have a favorite cafe?

Adam: Favorite bar? Wait what’s the best bar? I don’t know

Takk: You’re enjoying, no favorite café, do you have a favorite café?

Adam: Um I use to ban Starbucks because I always liked going to the deli across the street

Takk: yeah

Adam: Because of the Wi-Fi and the ability to get work done, I like Starbucks,_, anywhere I can get work done

Takk: So you’re saying, your favorite establishment, as long as they have good Wi-Fi

Adam: Wi-Fi and room to work and then I always want to buy whatever they have, coffee, and healthy food

Takk: Healthy food, as long as they have Wi-Fi and healthy food

Adam: Remember L______ is better than Starbucks because they have avocado and healthy

Takk: Yup

Adam: Could buy things that are healthy, so that is why I like it better than Starbucks

Takk: Okay, uh final question. First time I saw you was in the 2011 multifamily summit massinacko. You were a panelist there with Rudy

Adam: Wasn’t that ugly? Weren’t they all killing me?

Takk: O Man you were getting murdered

Adam: I was right, I was right

Takk: I really liked your enthusiasm on stage

Adam: I was talking about the end of rent regulation and they were like “that’s never gonna happen”

Takk: Yup you were killed

Adam: And then someone

Takk: But the panelist were all

Adam: But someone went to that lecture, do you know the back story to that?

Takk: No

Adam: Someone that attended that lecture then sued based on what they heard there and went to the United States Supreme Court

Takk: O my god

Adam: Challenging rent regulation, isn’t that crazy

Takk: Wow

Adam: They were all boo boing me and some guy was listening and he went to it and he followed it and it went to the United States Supreme Court and almost won. If they would’ve, instead of boo booing me, they would’ve gathered and done that, then done better briefs, they probably would’ve gotten better rent regulation

Takk: Yup

Adam: Yeah maybe we shouldn’t always like you know, make fun of the guy you disagree with, maybe sometimes listen a little carefully. Maybe that’s it

Takk: You had big day

Adam: they were going after me right

Takk: They were, they were and, and

Adam: And now they don’t, now they’re my clients

Takk: Well now that massinacko doesn’t even exist. That multi family is not good

Adam: They’re all

Takk: Its not even good

Adam: That whole thing, that whole bench is my client

Takk: But that was

Adam: I interrupted you, so first attended that

Takk: No, that was great, you were a great panelist. Uh I think you should do more of that. There is another one that is similar to that, Emm..

Adam: You didn’t go to the

Takk: That night too, I went that night, that was The Real deal

Adam: There was a recent one, where, about rent regulations, that Danker put on from _ village

Takk: O he did

Adam: And it was me, a state senator,

Takk: Schumer

Adam: No, it was a state senator, city council men, Levine, and one of the leaders in the tenant movement, yeah

Takk: Representing the tenants

Adam: The tenants yeah, it was in between that

Takk: Was a good debate?

Adam: And uh, a commercial broker

Takk: Okay, well I got to attend the next one. Um the other one, the one I loved you did, the same night in 2011 was the real deal with you and

Adam: the debate

Takk: With Stuart Saft, you had a like a full picture of you guys boxing it out

Adam: Macklowes son, he’s a great guy, he’s really funny, Taft,

Takk: Is that right, yeah he’s also married to another big time

Adam: Julie

Takk: Big time real estate, no?

Adam: Julie Macklowes own business

Takk: She has something else, o yeah. But that was a great night, those were some of my great memories that you

Adam: That was at Lincoln center, the main hall

Takk: That was, Amy Fisher Hall

Adam: Amy Fisher Hall

Takk: Yes sir

Adam: right, It was a good time

Takk: Did you enjoy that? Battling Stuart Saft? You kind of, I feel like

Adam: He’s a phenomenal attorney

Takk: Out spoken guy, maybe not a debater

Adam: Phenomenal attorney

Takk: attorney

Adam: But don’t you think it’s a little unfair, I had to debate in front of 5,000 brokers that real estate litigation is a good idea, how fair was that

Takk: Yeah, alright guys, I know you’re busy and we gotta wrap up here, this is a one hour podcast. So actually the longest episode today. After postproduction it will probably be about an hour. Um Adam, Thank you so much

Adam: Thank you

Takk: Really appreciate it

Adam: Thank you for having me, it was an honor

Takk: Thank you for coming on to the Real Takk Podcast

Adam: The Real Takk Podcast

ent date, where he shares his tremendous success story of suing Donald & Ivanka Trump, representing Linda Mackelowe in the most expensive divorce case in US history. (read about his bio below)

Bio:

Adam is one of the most distinguished real estate attorneys in America.  Born in Bayside Queens, he moved to California at the age of five, and later moved back to NJ where he graduated with honors from Rutgers, then obtained his law degree from Syracuse University College of Law.  Adam is an author of NYT’s best seller Finding The Uncommon Deal.”, he was selected by the Chambers & Partners publication as NY’s leading RE lawyers, and was named Super Lawyer by Law & Politics magazine.   Adam has a long list of notable cases, but to mention a few he’s represented Developer Sharif El Gamal, who proposed an Islamic mosque & cultural center near the ground zero site, where his opponents were the families affected by 9/11, politicians, and conservative media pundits. (long story short it turned into 45 park place. Adam was responsible for obtaining the largest residential condo settlement in the history of NY, as well as  successfully relieved purchasers from new developments like 20 pine, The Brompton, Trump Soho & Sky View Park.

Transcript:

Podcast with Adam and Real Takk

Adam: This is Adam Leitman Bailey and you are listening to the real takk podcast

Jennifer: This is Jennifer___ with Compass and you are listening to the real takk podcast

Steve: hello this is Steve, we’re with Wydler Brothers of Compass in the DC Metro area, and you’re listening to the real takk podcast

music plays

Takk: All right what’s up guys? Welcome to a brand new episode of Real Takk. Today, Adam Leitman Bailey, who is actually, the, one of the top attorneys in the United States, joins me. But before I go there, right now we are sitting in an awesome office space, here in financial district. On the border of Battery Park and I guess, its just a really nice office, probably about 20,000 sq. ft. really nice finishes, we’re overlooking right now, basically the Hudson river and the statue of liberty. So usually, we do these recordings in my office, in a little cave, but today we are in definitely one of the nicer, nicer places that we recorded a podcast in. so uh, just to give you a quick introduction, Adam is again, Adam is one of the most distinguished real estate attorneys in America. Born in Bayside Queens, he moved to California at the age of five, and later moved back to NJ where he graduated with honors from Rutgers, then obtained his law degree from Syracuse University College of Law. Adam is an author of NYT’s best seller Finding The Uncommon Deal.”, he was selected by the Chambers & Partners publication as NY’s leading RE lawyers, and was named Super Lawyer by Law & Politics magazine. Adam has a long list of notable cases, but to mention a few he’s represented Developer Sharif El Gamal, who if you guys read the New York Post all the time, may be familiar, he was the developer who proposed an Islamic mosque & cultural center near the ground zero site, where his opponents were the families affected by 9/11, firemen, politicians, and conservative media pundits. (long story short) It turned into a brand new condominium called 45 park place. Adam was responsible for obtaining the largest residential condo settlement in the history of NY, as well as successfully relieved purchasers from “bad new deals” new developments like 20 pine, The Brampton, Trump SoHo & Sky View Park. I cannot not go on long enough about Adam. I want him to jump in so Adam welcome and thank you for joining today.

Adam: Thank you so much for having me, I am honored to be here today

Takk: I am appreciative of your time

Adam: Feel like I’m fulfilled in life. I’m on the Takk podcast. Live

Takk: This is just the small steps.

Adam: Great

Takk: Small set. How you been?

Adam: For you. Big step for man kind and me. Stole that from someone I met on the moon. You know.

Takk: Lets start from the beginning. You, you are obviously one the top lawyers in the states. But it was not, like anybody else, success is never a straight path. There are twists and turns and curves. When you were in your younger years, describe to me some of the things that have happened. Your background.

Adam: Right so um, I um, I’ve had a really rough road. I mean it’s never been easy. And I

Takk: I mean, you didn’t come from money

Adam: No, I came from poverty

Takk: Yeah

Adam: I uh, I came from a horrible childhood

Takk: Mhmm

Adam: Every way you look at it

Takk: Yeah

Adam: And I credit that with any success that I’ve achieved

Takk:Mhmm

Adam: And I love talking about it, because most people do not come from a silver spoon.

Takk: No

Adam: Most people aren’t handed. Do not come from the Israeli army from winning a podcast

Takk: Or the develop mop parents

Adam: Or parents are developers

Takk: You’re an avid listener, this is great

Adam: Or um, I don’t get your newsletter

Tak: laughs

Adam: I don’t know why I’m excluded from that list

Danielle: We’ll be sure to add you

Adam: Fine okay

Takk: Danielle, tell Danielle, shes gonna do it

Adam: you know, I mean, You know, I’ve been uh deprived from a lot of things in life. You get used to that. You just keep moving forward.

Takk: mhm

Adam: But no I mean, when I was 5 years old, my mother cheated on my father. My parents, both my parents are teachers. My fathers a gym teacher, my moms a 5th, my mothers a 5th grade teacher. And they lost their jobs, in 1975. You can google, the ocean Ville, Brownsville strike,

Takk: Mhmm

Adam: Read all about it, and uh, there was no jobs. So my mother with a strange man took me to California. Looking for work, so I skip kin-

Takk: At 5 years old

Adam: Yup, 5 years old, I didn’t go to kindergarten.

Takk: Mhmm

Adam: And things were rough because my first landlord tenant experience, which is one of the practices we do here, was moving from house to house or hotel to hotel because we couldn’t find a place to live. Because we didn’t have any money. There was no teacher jobs in California either.

Takk: Did you understand that as a child, you didn’t have money so you couldn’t move, you didn’t have money so you couldn’t buy a house.

Adam: Yeah, I understood it because I remember like going out to eat, because there was no, you know, kitchen in some of these places

Takk: sure

Adam: so I understood always to order, the, the cheapest thing in the menu.

Takk: mhmm Wow

Adam: I remember, as soon as I can read, I remember ordering the cheapest thing in the menu.

Takk: wow

Adam: I remember cockroaches, I remember you know, I remember getting, being beaten by my step father

Takk: mm

Adam: remember really horrible things

Takk: mhm

Adam: and uh, I remember getting bullied, you know, its not a good, good idea for a 5 year old to move from New York City, Queens, to the West coast. I understand it worked out well for the karate kid

Takk: laughs

Adam: but

Takk: He went through some trial and tribulations

Adam: They didn’t put me in karate, they didn’t put me in karate.

Takk: no they didn’t

Adam: And I didn’t have Mr. Miage to teach me how to beat up the, uh, the big bullies. And they were blonde, and they were big but I wasn’t, I wasn’t

Takk: You didn’t have the proper mentors you would say when you were young

Adam: Yeah I didn’t learn how to fight. I did learn how to take a punch but I didn’t learn how to give a punch.

Takk: Laughs so what got you to move back to New Jersey?

Adam: So when I was 13 years old

Takk: mhmm

Adam: I think because my family missed their family. They, they moved back, uh to New Milford, New Jersey, uh, which is really another

Takk: Did life get better then?

Adam: No it got worse, yeah it was a really bad idea, I don’t know how it is in California now, although I did visit up until 2015. But it’s a really bad idea for a valley dude, with blonde hair

Takk: Yeah, Yeah

Adam: and you’re saying dude al the time, for a valley dude, you know, you come to movies, you know uh, Sean Penn movies, you know

Takk: Right

Adam: that valley dude, blonde hair liking the Gogos, to come back and everyone like Metallica

Takk: laughs

Adam: or heavy metal, you’ll be back at 13, to a different culture.

Takk: Yeah

Adam: In New Jersey

Takk: Yeah

Adam: Which is another tough guy culture. That wasn’t a good idea either. But it makes you very tough.

Takk: Right

Adam: Very strong and all of that helps build whatever I am today. Which is a very goal oriented, very strong minded leader, who doesn’t depend on anyone but himself, and that’s what I am today.

Takk: Mhm, would you, did you participate in sports as a kids? Were you, you’re very competitive clearly today, but obviously something, you must have been competitive as a kid because of these things happening to you.

Adam: yeah so I don’t, I never really identified myself as competitive as a child. But I did compete in the sports. I started running at the age 5, in camp. So I had to fly back every summer because of the arrangements. I flew back to camp, my dad was a counselor, head counselor in the camp.

Takk: oh

Adam: Um called Camp Shopa. And I flew back every summer. And uh I started running with my father. And I started running in events. And I realized I could run for a longtime. Me and Forest Gump.

Takk: laughs just keep running

Adam: and I ran and I ran and I ran, and we ran every day. And I ran in events. And I realized that I wasn’t really talented in most things but I love sports and I like running. It was, it felt good to be, to belong to something.

Takk: Right

Adam: so when I started 8th grade and in Milford high school, I joined the track team. I was the worst one in the team

Takk: laughs

Adam: By far

Takk: Did that motivate you, propel you, to become a better athlete? Practice more? Stay out late, longer, earlier, stay out later.

Adam: For some reason my coach, Raymond Harrison, who will become important, mean a lot, cause we have a scholarship program here

Takk: sure

Adam: and the charity we own. And all of our scholarships are called The Raymond Hap Harrison Scholarship, named after my childhood coach. So, track coach

Takk: Track coach

Adam: His job was very important

Takk: Yeah great

Adam: So he um, became very influential in my life. And he stood by me despite being the worst runner. Um he either believed in me or just kept pushing me

Takk: Saw your work ethic, saw your determination

Adam: I don’t, I don’t think he saw anything

Takk: laughs

Adam: There’s no cunning 8th graders so, it’s a team. And I just liked belonging to something. They weren’t beating me up on the team. It was like protection. You’re on a team that no one is beating you up on the team. Worked out well. So uh, no but I stuck with it. And then slowly I was, I was improving, and I didn’t, my father didn’t, never really talked about his career. But he ran in high school. At James Madison High School, Brooklyn, New York. And he ran with a guy, the track the captain of the track team. Who you may have heard of, his name is Bernie Sanders.

Takk: Wow

Adam: Yeah, he had this theory on the top, that was kind of weird though. He thought everyone should finished together at the same time.

Takk: Bernie?

Adam: Bernie Sanders

Danielle: laughs

Adam: And I said “dad, that’s socialism”

Takk: Seems like

Adam: My dad pulled out the pictures of him and Bernie.

Daniele: laughs

Takk: Seems very acute, was he the fastest runner?

Adam: He was, Bernie was the fastest runner on the team.

Takk: that’s amazing

Adam: He ran a mile like I ran a mile

Takk: You could say that if you’re the fastest runner. Because if you’re the fastest runner, and everyone’s finishing at the same time, you’re probably wining states and championships.

Adam: He did well. My father was a sprinter, Bernie was a long distance runner. My father was actually a runner in college. My father ran at Cortland college. So I didn’t know it, that it was in my genes, because my father never spoke about it. And I didn’t see him that often, because we were in California

Takk: Yeah

Adam: I didn’t actually know I had running in my blood. It was there

Takk: So a competitive athlete was always in you?

Adam: I never really felt like I was competing, cause track and field and cross country and long distance racing,

Takk: Sure

Adam: cross country, you’re finding yourself as a runner. Because the coach doesn’t really know what you are in 8th or 9th grade

Takk: No

Adam: So you’re really, we’re all, what it is is a great sport. You’re competing against yourself. And, and my coach taught me, Its you against you.

Takk: oh yeah

Adam: all you do is beat your best time

Takk: Your last time, sure

Adam: beat yourself. Its very simple.

Takk: Mhm

Adam: And then if you beat yourself, you’re getting better and better and all of a sudden you’re beating everybody else. And it gets better. So um, that worked out. And what it worked out best with is, I never became the runner that I should’ve become. I choked in the biggest meets

Takk: was this in? just in high school? Middle school? High school?

Adam: so I got, I became the captain of my track team in 10th grade.

Takk: Mhm

Adam: I mean I got a varsity letter really early. And I was already, I was a star in cross country, and track in 10th grade. And which is very odd. So I blew that ship pretty early. My junior year I was supposed to be the state champion and I wasn’t. Cause I, I choked the big meets of my junior and senior year

Takk: okay

Adam: so what it did was, it taught me how to be a great leader. Taught me how to deal with defeat. Taught me how to overcome odds. I was in a really bad car accident. Where I was in a short coma.

Takk: Right you had a bad concussion

Adam: A horrible concussion, short coma

Takk: This was in 10th grade

Adam: This was my junior year, 11th grade

Takk: What happened?

Adam: my bones

Takk: Were you driving?

Adam: So I was in the back seat of the car

Takk: Mhmm

Adam: With my girlfriend at the time. I think my first girlfriend, one of my first girlfriends in my life. Cause I was not the best looking person that I am now.

people laugh

Adam: yeah, but um, we were on our way to a party. It was the drivers one of his first, he just got his license.

Takk: Driver just got his license

Adam: and we

Takk: He was a good friend of yours

Adam: It was rainy, it was cold, it was raining and we were on our way to a party. Which is a rare thing for us, to be invited to a party. And we, went over the train tracks and we flew into a bank. Which is kind of ironic because I represent banks.

Takk: laughs Good joke

Adam: and um In Bergin hill, New Jersey.

Takk: okay

Adam: which is next to where we lived in New Milford, New Jersey. And uh

Takk: Did you have a seat belt on?

Adam: No, we were in the back seat which we didn’t wear seat belts in 1987

Takk: in the 80s. Oh

Adam: Not heard of to wear a seat belt

Takk: Who knew?

Adam: I broke bones, I had 37 stitches in my head

Takk: oh

Adam: and I um

Takk: You were in a coma

Adam: Coma was a week

Takk: Woof

Adam: So not that bad

Danielle: wow

Someone: god

Someone 2: god

Takk: that’s pretty bad

Danielle: What do you mean not that bad?

Takk: I don’t think it was not that bad

Adam: It always good and bad, I mean other words I mean

Takk: better than that

Adam: at that point at 17 years old, the best looking girl I ever dated, I met at a holy named hospital. In Teaneck, New Jersey. Because of that coma. Because I was wrapped in

Takk: A Cast

Adam: Everything was broken

Takk: Yeah

Adam: Except my legs and abs

Takk: Yeah

Adam: And I had the best abs and legs of anyone alive

Takk: laughs

Adam: Because when you run, the 70-80 hours a week, when you’re running that much. You have the best abs and best legs. But your body is tiny, you’re so skinny

Takk: Yeah

Adam: so everything else was wrapped because it was broken. Your heads wrapped

Takk: Sure

Adam: Your big nose is wrapped, But your abs are steel and so are your legs

Takk: Those look good

Adam: I got a girlfriend out of it

Takk: Okay, alright,

Adam: See there’s always benefits, seriously the um

Takk: What about the girlfriend that was in the back seat? That was a different girl then? So you, that

Adam: o no, you don’t recover

Takk: That ended the relationship

Adam: That was a short relationship, but you don’t recover from, you don’t want to have anything to do with anyone in that car anymore.

TAkk: After that

Adam: You don’t, first of all, I don’t remember the accident, and anything in that car was over, thatd over

Takk: Sure

Adam: and you’re 17 years old, girlfriend is a strong word

Takk: what do you, what does anyone know?

Adam: it was one of the greatest things that could ever happen to me. What I over came so I literally started running with casts on. The accident was like in May or June and by August I was running again.

Everyone: wow laughs

Adam: in a lot of pain,

Takk: Oh my god

Adam: with blood, every run had a lot of blood to it, all over.

Takk: I mean your stiches were coming off, falling apart

Adam: Everything was a mess

Takk: Your doctor probably said you should not do that

Adam: The doctor, the doctors were writing up as If I need mental help.

Everyone: laughs

Adam: I’ve been to a psychiatrist once, like one episode but that was during that time because they thought I was crazy. Nothing was stopping me from wining the state, the state championship, my senior year

Takk: Yup

Adam: cause I choked my junior year

Takk: Mhm

Adam: and I was gonna, and I knew if I didn’t run during the summer, I wasn’t going to win

Takk: Right

Adam: I was determined to win

Takk: So you ran in the summer with a cast on

Adam: right, ran with the cast on , two casts

Takk: Did what you had to do

Adam: My legs were fine

Takk: How was your head then?

Adam: my head?

Takk: Yeah cause you had, I am sure you had stiches, you had swelling, you had

Adam: I had to drop all my honors classes, I was in, almost all honors classes, if not all honors classes and I had to drop them

Takk: You missed too much school

Adam: They put me in remedial classes. I missed a semester of school, my junior year. Um they passed me through but I missed a semester. You think they just carry on my grades for the semester

Takk: How did that make you feel then? When you had to drop down then?

Adam: I was the happiest person alive, because I was

Takk: alive

Adam: alive

Takk: Yeah

Adam: because I was alive. They told me I was lucky I was alive. If I had hit the windshield

Takk: uf

Adam: Broke the glass

Takk: Jez

Adam: You’re lucky you’re alive, you’re the happiest person.

Takk: yeah

Adam: and I was able to run

Takk: Yeah

Adam: and uh, I read a lot of books and had to get my grade back

Takk: when you get, when you got to law school, why did you decide to go into law where you wanted to be successful, you could’ve done wall street, you’re right in New jersey, You could’ve gotten into some engineering work, why law?

Adam: Remember my parents are teachers

Takk: Yeah

Adam: I never met a lawyer before period, there’s no lawyers in New Milford, new jersey that I knew about

Takk: hmm

Adam: And if they’re there, I still haven’t met them

Takk: sure

Adam: If you go to New Milford’s Wikipedia page, its just me and Ed maranato. I think listed

Everyone: laughs

Adam: He was on Hillstreet Booze and he played pro football

Takk: uhuh

Adam: really nice guy

Takk: Yeah

Adam: but its not the town where you go to, to become a lawyer or wall street hedge funder

Takk: sure

Adam: or anything else

Takk: Right

Adam: it’s a middle class, it’s a street, town, it’s a little cast town, it’s a great person town.

Takk: Great town, blue collar but nobody is there

Adam: Blue collar, but you’re not there to become a hedge funder

Takk: Hedge funder

Adam: So I didn’t know anything about wall street. I wouldn’t know what wall street was if you said it then, um I did read a book in 7th grade about John Peter Zenger. John Peter Zenger in 1735 was arrested as seditious liable. He said bad things about the king’s British governor Bill Cosby. No Relation to

Takk: to the Bill Cosby

Adam: the comedian and other things later on and they brought in the best lawyers, back then were not from Adam Leitman Bailey P.C or another law firm

Takk: Yeah

Adam: or any stupid chance to plug our law firm, right.

Takk: laughs

Adam: Including Astoria about why you pick law? So the best lawyers were Philadelphia lawyers, the famous phrase, you know from many movies

Takk: Yeah

Adam: Philadelphia, best lawyers

Takk: Yeah

Adam: So they brought in the best lawyer at the time, Andrew Hamilton, to come represent John Peter

Takk: There he is

Adam: For saying bad things about Bill Cosby, and I read a book on it. And his printing press is at federal hall right now, John Peter Zenger

Takk: Okay

Adam: and, no, that’s Alexander Hamilton

Takk: Alexander

Adam: its there cousins, I don’t know about. Andrew Hamilton came from Philadelphia

Takk: Yup

Adam: Comes in, and leaves his words, and they speak to a jury of people born in this country. They were an American Jury cause this is 1735

Takk: Yup

Adam: not 1776 and they acquitted John Peter Zenger. Even though truth wasn’t a defense to liable yet.

Takk: MMm

Adam: In fact, the same place where they had the trial which is where federal hall is at right now

Takk: mhm

Adam: the same place where we had the launch of my book on how to buy a first home

Takk: sure

Adam: Finding

Takk: Finding the uncommon deal

Adam: uncommon deal. Good. See I had it there on purpose. It’s the same place where they signed the bill of rights. That actually gave you the right to have the first amendment, which helped John Peter Zenger. This lawyer used his words to free John Peter Zenger. And I loved the way someone could use words to be powerful and help people

Takk: Yeah

Adam: my thing of I cannot see end in justice, still today I can’t stand it. I fight for peoples rights and sometimes as we know of one instances, I went over the line but I can’t stand the justice I fight for peoples rights and that’s what I’m paid to do.

Takk: mhm

Adam: and I love that. And I love for standing up for peoples rights. And I love doing the right thing. And I love the power of what lawyers could do. And that day I fell in love with being a lawyer. And then soon then after I remembered, I can’t be a lawyer because that’s for rich people. And law school cost a lot of money

Takk: Yes

Adam: So I had it in my mind that I wanted to be a lawyer and then I put it on hold because I have to be a journalist because I can’t be a lawyer because that’s for rich people

Takk: Mm

Adam: That was the goal. And all these other professions are naming about how to be rich, I never had a goal of being rich either. Even today, being rich was never my goal. The goal was to be

Takk; not be

Adam: to be able to feed my family and myself but to have meaning in life and to help people, that was always my goal

Takk: How did you put yourself through law school? Did you end up taking student loans? Work after?

Adam: $120,000 dollars of loans

Takk: did you, how did you do that?

Adam: and I worked

Takk: Applied through school?

Adam: I learned about loans, I applied, and they paid for almost everything

Takk: okay

Adam: and then I worked in the side

Takk: good good

Adam: I worked for (Barbrive), and I got a free bar review class

Takk: laughs

Adam: And then I tutor, I mean I did all kinds of jobs

Takk: Yeah

Adam Everything and anything that would pay

Takk: Good good

Adam: I taught the SAT for Kaplan during college so I would teach kids how to study for the SATS

Takk: Did you miss the SATs when you were in high school?

Adam: I don’t have any memory of that

Takk: laughs yeah the school system is all different to, some of the younger kids probably don’t even know how the was school vs the 90s vs the 2000s vs the 80s so. But that’s good to know, you always had that hustle mentality. What ever it takes to achieve your goal, whether, regardless of the obstacles, whether its financial, whether its times, whether its personal thinking. The moral of the story is, there is always a way to find the end, its just, its never a straight path. And that’s what I’ve seen with Adam based on his reading his back gourd. Lets switch gears a little bit. After graduation, it still wasn’t easy for you, you got, you passed the bar, you’re a lawyer now, but now what?

Adam: So I graduated Syracuse Law, one of the most incredible law schools, with one of the most incredible educations

Takk: Mhmm

Adam: and I am so glad that’s the school that I went to. Um, I did really well in college, but I didn’t do well on the LSAT. But I was so happy that I went to Syracuse because the education couldn’t be any better. The school was known for its trial programs, I wanted to be a trial attorney, I wanted to do real estate. I loved real estate classes, I enrolled property classes, and I did a clinic called the housing of finance clinic with my professor Debra Kin. Who uh, featured me in the chapter of her book later on. And um, we’re still close friends today

Takk: mhm

Adam: uh, I just fill in love with real estate. And I loved the fact that it was such intellectually stimulating, especially in New York City where you have to find, find how to 8 million people living in one city and all the fascinating regulations on how to allow people to function

Takk: Sure

Adam: together

Takk: Yeah

Adam: and then litigation I just, uh, I was on a special all-star team called the moot court team. So I knew I had a naturally ability to um ligate and persuade. And um those two came together. Litigation and real estate, and uh, and Syracuse was the top school for litigation

Takk: Sure

Adam: That I understood to be

Takk: Yup Yup

Adam: And I had a teacher, professor called Travis Luin that was considered the best professor in the nation for litigation, I made his all-star team called moot court team

Takk: Mhm

Adam: and uh that just uh, I just got very fortunate and lucky. Um to do that

Takk: to join that team

Adam: Right

Takk: and was able to

Adam: So of course, I come out and I get a job right away and no that didn’t happen, my life doesn’t go that easy

Takk: laughs never that easy

Adam: No

Takk: was it

Adam: it was nice months

Takk: Nine months?

Adam: Nine months to get a job

Takk: what, was it bad economy then?

Adam: Top 20% of my class

Takk: yeah

Adam: I’m in the special trial program, should be getting a job really easy, and no, no one would hire me. But then again, I turned down offers because I wouldn’t do personal injury

Takk: Mhm

Adam: I didn’t have the stomach for it. I wouldn’t do family law, I mean I cry all the time in movies, its real easy

Takk: Hah

Adam: so I couldn’t handle that and I really wanted to do real estate and I really wanted to litigate

Takk: right

Adam: and finding those two together wasn’t going to work, I wasn’t really made for the big firm. I was made to fight for people rights. So

Takk: thinking about a cultural thing is what you’re saying

Adam: I don’t know, its just, their just J Gatsby, F Scott Fitzgerald wrote, the rich are different from you and me, you know, it’s a club

Takk: Yeah

Adam: and uh, when you have my background, think about it, I don’t have any connections.

Takk: Right

Adam: Zero connections

Takk: No country club mentality from Connecticut

Adam: There’s no one from New Milford, New Jersey that became a lawyer.

Takk: hehehhe

Adam: I’m the only one

Takk: right, right

Adam: No country clubs, I never heard of no country clubs

Takk: right, you didn’t know the word brunch until you were probably in your 20s

Adam: I knew brunch, I knew the word Brunch but I had never had sushi before

Everyone: laughs

Adam: and I definitely, and I learned a word, what was the word, caviar, I never had caviar up until much much later

Takk: I love it ok,

Adam: so I

Takk: yeah

Adam: and private school, I never met anyone from private school yet. So I uh, I was different then the richer are different from you and me. I was definitely; I wouldn’t have hired me either

Takk: Tell me the story about, you had met one attorney that attorney took you out for lunch and you were nervous. He said a word that you weren’t familiar with. You ordered

Adam: I made a mistake

Takk: laughs this is great

Adam: I made a bad mistake, so my dad somehow knew an attorney. Dad the gym teacher,

Takk: Yeah

Adam: my dad who told me never become an attorney because its too risky. My dad who said become a teacher like all of us, my whole families is teachers

Takk: Its safe, secure

Adam: my grandparents were the secretary of board of education, my stepparents, my parents all teachers

Takk: Yeah

Adam: my sister, two sisters, teachers, everyone’s a teacher, why don’t you get a substitute license, you can’t get a job

Takk: laughs

Adam: Adam you weren’t made to be a lawyer, we never had a lawyer in our family before, how can you be a lawyer

Takk: Yeah

Adam: so he finally gets someone to take me to lunch, of course that guy is now in jail, he’s a convicted felon

Takk: O god

Adam: Not kidding

Takk: I did not know that part

Adam: But he found someone to take me to lunch, finally had my first connection. I was just so honored that someone would take me to lunch. He’s in long island

Takk: uhuh

Adam: I go out there, wanted to fit in so he orders a drink, I think he probably said the word Perrier.

Takk: laughs

Adam: I thought he was ordering an alcohol beverage I wanted to fit in so I think I order the Gin and tonic. He says o that’s interesting

Takk: we got a party animal on our hands

Adam: so then that was the end of getting that job

Takk: o boy

Adam: I guessed he ordered some French water and I ordered a hard drink at an interview. And yup I didn’t get that job

Takk: the, the irony of the story is, you’re not really a drinker

Adam: I don’t even drink

Takk: you don’t drink

Adam: I mean, I will drink socially, like if I go out and anybody is ordering a drink, I will drink uh socially.

Takk: mm

Adam: but um I’m not against drinking, I’m all for having a drink, but most of the time everybody is drinking, I’m going to be working when I get home

Takk: I get it

Adam: like when people go out

Takk: I totally understand

Adam: to dinner, I’m going back to work

Takk: yeah yeah

Adam: so its very rare, that I’m getting drinks, I cannot work on a drink. I can maybe one glass of wine and still work but its still not as affective

Takk: you’re not as sharp

Adam: Right, I need to really be sharp. Getting drunk is never happening because then I’m not as good the next day, and I need like for my trial on Tuesday, I need to have everything together. We need to be perfect. We have a multimillion case on the line and we better be the best we can possibly be. Remember, I’m not just working, I’m working on cases, I’m also writing

Takk: Yup

Adam: I’m writing, I’m in the middle of writing a book, its 2,400 pages.

Takk: Okay

Adam: with 34 authors

Takk: great

Adam: and I’m the co editor in chief, its real estate law

Takk: mhm

Adam: real estate lawyers for rest of the lawyers

Takk: Okay

Adam: So I’m really trying to improve, I’m trying to improve real estate for all of New York.

Takk: got it

Adam: Not just for or firm but for all of New York

Takk: Mhm

Adam: Which is very important

Takk: right

Adam: to improve our community, to improve New York

Takk: For the audience let’s talk a little about today topics, maybe some cases that you’re working on now but also some of the wins, you’ve had in the past. We talked a lot about your losses so we know, we know, you got beat up. What’s some of your thoughts? First topic I want to discuss is when you first began your real estate career, attorney career; you were an l and t attorney, a landlord tenant attorney, correct?

Adam: Well I, well the first firm was called Winnick and Winnick and we did real estate litigation

Takk: mhm

Adam: And we did real estate transactions

Takk: Okay

Adam: so we didn’t do landlord tenant yet, and I was at that firm for two years

Takk: When did you shift into that?

Adam: So I realized after two years, I said, I can’t complete my real estate training. I was a young Jedi and I can’t complete my real estate training, unless I learn landlord-tenant

Takk: yeah

Adam: so I actually only left the law firm, and I love that firm, and I’m still in touch with my former boss

Takk: Great, yeah

Adam: I can’t complete my Jedi training and I went to a landlord tenant firm

Takk: Correct

Adam: So I lived a, I researched the best landlord tenant firm in New York at the time. And I found it and I applied to them. And I got the job, and then, and then I worked there for a little over 2 years, or 2 years and uh then I started my own firm

Takk: How many cases did you think, did you, would you say, how many cases did you have at that l and t firm? How many times did you go to court?

Adam: Um, everyday

Takk: Everyday? Okay. So you have a lot of experience in this? The publications out there, they don’t really talk too much on your l and t background. At least online when you, you initial google search on you

Adam: Right

Takk: But more about everything in the real deal and what not. But not so much l and t now. I want to touch on this for a few minutes. because Its very important, not, if the listener right now is in real estate but if they’re living in New York City. So the legislation, Albany changed a lot, last year in the summer.

Adam: You think

Takk: And

Adam: I’m just kidding

Everyone: laughs

Takk: It basically flipped the rental game upside down. Now it effects everybody in different ways, if you’re a stabilized tenant or rent controlled tenant, it effects you tremendously. But if you’re a landlord, it also affects you, a free market landlord, owning one condo or one co-op, it also effects you as well. Long story short what are your thoughts on the effects of rent control and rent stabilized tenants? And are you more pro landlord about that, about the law change, or pro tenant about the law change? And also the second part of the question is, what about for the individual condo or co-op owners who aren’t making that much money to begin with, are now at higher risk because of the laws changed?

Adam: Okay, that’s a complex question but I’ll

Takk: Two, two part question yeah

Adam: It’s more like six but I’ll

Takk: Six laughs

Adam: So um, we represent landlords and tenants

Takk: Both

Adam: But most of the tenants we represent are extremely wealthy just to be blunt

Takk: Mhmm

Adam: Or the tenant

Takk: Oh because they hire you, they’re wealthy?

Adam: Because when the tenants are hiring us, they’re usually co-op share holders

Takk: Mhm sure

Adam: Or tenants that have a lot of money that want to keep their apartments

Takk: Right

Adam: Or the tenant associations where there are a group of tenants hiring us

Takk: Mhm

Adam: On the landlords side, there are landlords that just want to win

Takk: Yeah

Adam: Okay, so remember the law, hurts tenants sometimes even more then it hurts landlords

Takk: Even if the law is meant to protect the tenant

Adam: Right, but it doesn’t protect them

Takk: How so?

Adam: Let me give you an example, the law says that you can’t deregulate apartments anymore, meaning that you can’ t take them out of rent regulations

Takk: Cannot

Adam: Right, so three times this week, we got, we received calls from tenants and one of the major ways we use to make money, we call buyouts.

Takk: Yeah

Adam: Where a tenant would want to leave their apartment and the landlord would give them sometimes an average of a million dollars to leave, so I got a call from one tenant, who I won a case for, a major case for, 10 years ago. And they said “my wife is having trouble hearing, um we need to move out”

Takk: Sure

Adam: And I go did you hear about what happened in June?

Takk: Yeah

Adam: The 14th?

Takk: Yeah

Adam: They go “no we don’t turn on the internet, we’re scared of it”

Takk: laughs

Adam: um uh I mean you’re going to get like $10,000 dollars. You mean we’re not getting a million dollars that they offered us10 years ago. No, uh

Takk: That ship has sailed

Adam: They started crying, the average rent regulated tenant is 68 years old

Takk: Yeah

Adam: If you’re on a fourth floor or third floor walk up, how many years you think they’re gonna walk up for flights of stairs

Takk: Nope

Adam: With groceries?

Takk: No

Adam: They, They’re getting hurt the most, because they don’t have their meal ticket to go buy a place in Florida, with the money they would get here

Takk: 100%

Adam: So you’re hurting them the most, so these tenants at 68 years old may need to move to homes

Danielle: Yeah

Adam: Or somewhere else, they’re not getting $10,000 dollars to leave 20. So they’re getting hurt really badly. Laws don’t help these tenants, the, the laws that were passed didn’t think about the tenants, I don’t know what, what they were thinking about

Takk: Why was it passed then? Who did it benefit really? The younger stabilizers?

Adam: It’s a really long story for why it was passed, which I could get in to in a different

Takk: In a different episode

Adam: But, not today, but bottom line is, it wasn’t thought out

Takk: Yeah

Adam: And they, it should be changed immediately, but when I speak to the legislatures. Because I’m friends with all of them, I mean not friends, but either friends or acquaintances, or you know, we use to donate to all their campaigns at a certain capacity

Takk: Sure

Adam: We have fundraisers here all the time because obviously when you see its 26 sq. ft. of beautiful space

Takk: laughs I said 20,000 sq. ft., I was wrong

Adam: No, no I was just saying

Takk: Its 6 more thousands

Adam: It’s a beautiful space for fundraisers

Takk: Very

Adam: So, and their goal is to keep the rent low. Rent is too damn high,

Takk: Too damn high

Adam: I thought, I agree with them, if you want to control rent to keep them down

Takk: Yeah

Adam: Fine do that

Takk: Yeah

Adam: But what they did, by stopping rents from being decontrolled, is you’re taking away the tenants ability to move to homes that they

Takk: They could afford

Adam: and get the care they need, now because they’re already tenants at 68, its very few tenants that are younger, cause they have succeeding tenants, tenants that pass their apartments on to their kids doesn’t usually happen

Takk: No

Adam: Cause the kids don’t want to live with their parents for two years

Takk: No

Adam: Like they have to do, so when they go to college, when they go to Lehigh

Danielle: laughs

Adam: to Lehigh graduates of

Takk: 3 actually, sorry

Adam: You went to

Takk: I did as well

Adam: I didn’t know, congratulations, great school, great school

Takk: All these connections, real estate

Adam: We got Lafayette

Takk: Lafayette, there you go, that’s right, that’s right, she was just there

Adam: O that’s right, recent game, good for you, second last game of the season

Danielle: Yeah, I remember

Adam: Yeah

Takk: Yeah you, you know, you know it all

Adam: You gotta, gotta know your stuff

Everybody: laughs

Danielle: On top of it

Adam: So um, they ,they, the law, if you want to limit rents fine, but don’t hurt the people in the process, so allow deregulations, allow tenants to be deregulated and then you give landlords bonuses for improving apartments

Takk: Sure

Adam: That gives middles class people jobs, like my family

Takk: Yeah

Adam: Gives them jobs

Takk: Yeah

Adam: I am one of six, my families jobs, contractors jobs to build, build up these places, instead of leaving them to rot

Takk: Yeah

Adam: So that gives jobs, it gives incentives for buyouts and helps up a lot. If you want to put on control and limit, you know the rent, to 5%, fine, that’s really the tenants biggest worry, is to be priced out of Manhattan

Takk: Right

Adam: I understand that

Takk: Right

Adam: Go do that, but you’re hurting the landlords and tenants a lot by doing that

Takk: Right

Adam: And even that’s bad for the landlords, because what you need, I mean, almost all my clients are no longer investing in Manhattan anymore or a lot of them.

Takk: The multi-family market is dead

Adam: Right

Takk: Its dead, yeah

Adam: Its thawed, Its dead, its thawed

Takk: Mhm

Adam: But, the, the number one reason isn’t so much these laws, even commercial is thawed out right now

Takk: Yeah

Adam: But, it’s not just these laws, its one thing you need as an investor. And if you’re a government, its one thing the average citizen needs.

Takk: What is that?

Adam: In a country, in every country in the world, and that is credibility, stability, dependability of this future

Takk: Yes

Adam: Those three, and if you have those, you’re gonna believe in your government. And when you don’t believe in your government, people are gonna run, and right now, they’re not believing in New York. And its really scary out there

Takk: What do you think about amazon getting kicked out? Its such a policy driven state, New York, I’m not just saying we’re socialist, but New York is a policy driven state, where businesses get pushed out

Adam: So it was, it was a horrible thing when not only did they get pushed out, but we treated a business,

Takk: Yeah

Adam: That when we’re saying we hate landlords, we are saying we hate businesses

Takk: Businesses

Adam: We hate, our government hates businesses

Takk: The landlord job is not easy, this, this is a family business, it’s a multi-family business, it’s a read, I mean these are businesses

Adam: Yeah

Takk: Pension funds, yeah

Adam: But amazing thing is that even with that all the major colleges still came and built, all the major business, even our that came in, still rented,

Takk: Couple thousand feet

Adam: Still small but

Takk: Mhmm

Adam: Google

Takk: Facebook

Adam: and LinkedIn, and all the others, they still came big time

Takk: Mhm

Adam: the businesses are still coming, why? Because we build vertically here

Takk: Mhm

Adam: When you build vertically, the talent is here

Takk: Yeah

Adam: And the businesses need the talent, as much as the government is kicking you in the teeth, they’re still coming, so it’s just amazing. As badly as you’re treating us, we’re still coming back for more. It’s like the person is beating the spouse, and the spouse is still coming back for more

Takk: Coming back for more laughs

Adam: It’s disgusting

Takk: It shows resilience

Adam: It shows resilience but it just shows, its, its gotta be changed

Takk: Sure

Adam: On the negative side, they’re coming back for more but they’re just going to get beaten up again, until we show decay and problems

Takk: Yeah

Adam: But we haven’t mentioned, is even the bigger problem, people will not stay in New York if crime goes up. They just changed the criminal laws where you can’t keep people that are on bail

Takk: reform

Adam: Its very difficult, and they changed other laws where if someone is a public danger to society they can’t get served as a factor to keep him on bail

Takk: Yeah

Adam: Criminal laws have changed

Takk: Yeah

Adam: Its very hard, hard to even convict someone of a crime now, unless they’ve done something severe so

Takk: They just let’em go

Adam: So uh, it’s gonna hurt New York as well

Takk: Sure, Sure

Adam: We’re in for some trouble

Takk: We’ll see what the future holds. I want to switch gears now because I know you have to run soon, but you had some really interesting cases that hit the newspaper as of late, one that really, one in particular that many of you heard, in the one actually I’m really interested in hearing, learning more about, is the Macklowe case. Where you were representing, believe the wife

Adam: Linda

Takk: Linda, in the 432 Park property.

Adam: We represented her, in her divorce, believe or not we were on a divorce team.

Takk: Mhmm

Adam: I personally did the trial on the apparent case

Takk: Got it. And this is one of the most expensive cases of the divorce history

Adam: No, it is the most expensive divorce case

Takk: Well we have Bezos, Amazon, Divorce cases, it’s a big company

Adam: No, this one went to trial, Bezos didn’t

Takk: Bezos didn’t go to trial, so this was the most expensive case that went to trial. So uh tell us a little bit about how, in what capacity you were working with Linda, uh what, some of your strategies and work you’ve done on that trial

Adam: We came in, in the middle of the divorce trial

Takk: Mhm

Adam: Without, reasons I can’t go in to, what we realized, when we first came in, was this is not a divorce trial. Cause, they were married for 30 years, it just couldn’t be, it was a matter of math.

Takk: Uhuh

Adam: It was a matter of assessing assets

Takk: Yeah

Adam: they’re wealth. It was a real estate trial. Its assessing real estate. And one party wants the real estate to be worth as little as possible and one side wants it to be much as possible

Takk: laughs Sure

Adam: So it’s a matter of how good are you at assessing math, at assessing real estate

Takk: Sure

Adam: So we realized, I realized that the real estate attorney were at one pint divorce attorneys

Takk: Interesting

Adam: Its not just about divorce, its about real estate

Takk: Sure

Adam: On the apartment

Takk: So you didn’t get involved in, they have multiple home about they also had a discussion about art work and obviously financing, bank accounts, several counts of money here and there, did

Adam: No, so, I gotta be careful because its attorney client privilege

Takk: Sure

Adam: Remember, everything is really simply, your, you need experts to asses everything and tell you the value

Takk: Yeah

Adam: And one party wants it to be as high as possible and one party wants it to be as low as possible. We only know real estate

Danielle: Mhm

Takk: Yeah

Adam: So, remember Harry Macklowe is a genius, okay

Takk: Indeed

Adam: I was quoted in the New York Post calling him a Shyster in the trial

Takk: Uhuh

Adam: Okay, but he’s a genius

Takk:Yeah

Adam: He is also one of the funniest men; you’ll ever meet in your life

Takk: I heard he had some really funny comments that during the trial, and out of the court house

Adam: He is hilarious

Takk: Yeah

Adam: And uh, and they had one of the greatest love affairs of all time, they, they really did

Takk: Uhuh

Adam: And everyone should be so lucky to have such a great love affair, but um, I’ll give you one story that most people don’t know which is disgusting. So we won my trial

Takk: Mhmm

Adam: She got to make the decision to keep the apartment, she got to keep the apartment at 432 Park

Takk: Yeah

Adam: it was her choice, she could either get her money back or actually close on the apartment.

Takk: Mhm

Adam: Harry was very unhappy about that, cause Harry, Harry is very competitive, and I was very happy she won. Because when you’re worth billions of dollars, it doesn’t really matter

Takk: a million here

Adam: Right

Takk: A million there

Adam: matter, winning or losing

Takk: Right

Adam: People, it was public, it was the front pages of the divorce,

Takk: Yeah, multiple times

Adam: At, well, every day, it was on the post, a picture, of Harrys new wife

Takk: Yeah

Adam: Did you see where they put the picture?

Takk: No, I don’t remember

Adam: Of her on the building

Takk: 432 Park?

Adam: They put it on the apartment we won the case on, the picture

Takk: O wow

Adam: Kind of disgusting, you’re married for thirty years and just because we won the case, they put a picture of her on the apartment that we won

Takk: Wow

Adam: Its kind of disgusting after 30 years that you do that

Takk: Jez, they said revenge is best served on a cold dish

Adam: that never made the paper, the picture did but the reason didn’t

Takk: Right but the story behind

Adam: First, first heard on the Takk podcast

Takk: Real Takk podcast

Adam: Real Takk podcast

Takk: What was your take away? What did you learn? I’m sure you learn in every trial, what was your take away from that trial?

Adam: I knew Harry was a genius; I dealt with Harry many times

Takk: Many times

Adam: In fact, I have an ongoing lawsuit with him at the time,

Takk: oh

Adam: I’ve been with several lawsuit with him for a long the years. Um, yeah, we know, it’s like um, dating, dating on the office, we have lawsuits constantly

Takk: Yeah, yeah, sure

Adam: He is always helping me make a lot of money, appreciate it, so thank you Harry, if you’re listening

Takk: But did you have a specific take away from that one specific divorce case?

Adam: It’s not that, it’s not that I didn’t know it, I just learned that money isn’t it’s a cliché, money isn’t everything, you know. And um, I did learn something very deep, and meaningful about how money isn’t everything. And how important money is to some people

Takk: Mhm

Adam: But I can’t tell you why because of attorney client privilege

Takk: Right, sure

Adam: But I learn something very, very deep, that I can’t talk about. But it was so deep, that’s it’s really affected me since.

Takk: Okay

Adam: And I wish I could talk about it but

Takk: Okay

Adam: But that attorney client privilege thing, I have to take it to the grave

Takk: You do, you do

Adam: You know I get bruises sometimes because my wife hits me so hard, cause all of sudden, she will be reading the paper or something, never on the paper, but online. And she’ll see my name, that I’m representing blank. And she’ll stat hitting me “You represent!” like it’s her favorite actress or something.

Takk: Uhuh

Adam: “You’re representing blank, this, and that, some guys, some actor”

Everyone: laughs

Adam: “Blank this and that, and you didn’t tell me!” And then I’m like, I’m not allowed to honey.

Takk: Yeah, Yeah

Adam: (making sound affects) Twish twish twish, you didn’t tell me that

Takk: Yeah, I am sure that, there are a lot of situations that you are put in, that you are uncomfortable and can’t talk about it anymore

Adam: I feel fine, I feel

Takk: Its part of your life

Adam: Keeping secrets is my trade

Takk: Sure

Adam: And I have no problem keeping secrets

Takk: Uh, a few more minutes here, uh, I did want to talk about uh, another interesting case with Trump. That you

Adam: Who’s he? I’m kidding

Takk: You had an involvement with Trump

Adam: Trump SoHo

Takk: Yeah, we’ll not that he is president, hot topic but

Adam: It was really wild, because I represent the Kushner family.

Takk: Yeah

Adam: And I’ve been representing Jared Kushner since 2002 and I had him on trial when he was a young boy, a young kid. I don’t read people magazine

Takk: I don’t, really, not many people

Adam: I don’t read any of the us magazine or any of those

Takk: E tv, or

Adam: So I sued Ivanka, Ivanka goes onto the Apprentice and she announces that Trump SoHo is just about sold out, or sold out, or whatever

Takk: Yeah

Adam: And we discover right away that only 15.8% sold out

Takk: Woof

Adam: And by the way that case changed brokering

Takk: Dramatically, marketing

Adam: Forever, never again has a brokerage ever exaggerated sales in any development thanks to the Trump SoHo case.

Takk: Yup

Adam: That stopped it

Takk: Yup

Adam: But at that time people were exaggerating

Takk: Mhm

Adam: So I get a call from Jared, and he is screaming at me, and screaming. And I’m like “Jared, I didn’t even know you guys were dating. I had no idea, how would I know these things!”

Takk: laughs

Adam: “Its on every” “I don’t read these things” I had no idea

Takk: Well you read the Post

Adam: I don’t even read the Post

Takk: You talk about the Post all the time

Adam: I don’t even read the Post

Takk: Okay, alright

Adam: I read the Post if I’m in it and I don’t even like being in the Post

Takk: Alright so you read the Real Deal, and that’s about it. You read

Adam: I get the emails of the Real Deal, I read it, I’m reading the Post if I’m in it

Takk: Yeah, so Jared is mad

Adam: I mean no no, I just didn’t know, and once I’m representing clients. Once I represented a group of people that had put down, down payments because they relied on, you know, a lot of Europeans, some famous soccer players

Takk: Yup Yup

Adam: Some famous people that weren’t even named

Takk: Sure

Adam: Lot of big leagues, and the group of people, 30 people, they wanted their money back because they thought it was almost sold out and they went crazy. So, I, the group was organized they hired me. I organized the group, they kept calling. Cause I was known, I was known first for, when buildings were built badly, I became the IT attorney for getting them fixed. Then in 2007 forward, I found a statue that no one had ever used before in New York called the Interstate of __ of Disclosure Act for getting people out of contracts. Which I didn’t really do that much of.

Takk: Mhm

Adam: I mostly got them discounts where the banks pulled the funding on the ability people to buy homes and I, we’re still doing this today. Just doing it quietly because we have people sign a confidently cover.

Takk: yeah

Adam: We found new ways today

Takk: Yeah

Adam: But we found ways, we found the statue that allowed people out of their contracts. What we really did was we got 40% off, that, that matched with the bank would give them in lending, and they closed their property

Takk: Closing anyway

Adam: That’s what happened mostly

Takk: Perfect

Adam: we had more closings here then anywhere else

Takk: Yeah

Adam: I believe, I mean,

Takk: At the time

Adam: I may be wrong in that but

Takk: At that point you were doing bulk closings

Adam: We were doing lots of closings. So um, that lead to um a lot of other cases like Trump SoHo. Where we sued the Trump family, but I immediately saw this was criminal fraud. So I contacted the DA’s office

Takk: Mhmm

Adam: And they started a criminal case and then Ivanka was brought down with the boys and that made everyone crazy

Takk: Did you have to dealings with Michael Cohen then? Was he involved?

Adam: Yeah so I was in touch with Michael Cohen right away

Takk: Wow

Adam: Now I’ve always like Michael Cohen, I’ve known him for years

Takk: Is that right?

Adam: He always been a straight up guy

Takk: Interesting

Adam: We’ve done, I mean I’ve sued the Trump family like six times, small stuff, like landlord tenant stuff

Takk: Okay

Adam: And

Takk: So Michael Cohen is involved with all of those?

Adam: No, very few. Michael Cohen didn’t get involved with the Trump family, I think until 2008, 9, 10

Takk: Okay

Adam: He wasn’t a 20 year attorney like people think, he was a recent A attorney to the Trump family

Takk: Got cha

Adam: In 2008, 9, 10 he was involved

Takk: Mhm

Adam: So but he was always a straight up, I knew him as a taxi medallion attorney, cause I represent taxi king

Takk: There’s a guy yes

Adam: The Taxi king

Takk: Yes

Adam: So I knew Michael Cohen, and he would be in small time cases not associated with Trump, some with Trump

Takk: Got it

Adam: so I did

Takk: (Talks over)

Adam: He was not involved in Trump SoHo

Takk: Got it

Adam: He was not involved with Trump SoHo

Takk: Got it

Adam: But a lot of other people were

Takk: Mm

Adam: and um that case started and it went on. And um I sent it to the DA right away. And they jumped in right away, I mean I didn’t hear from them for a long time and then they jumped in. But I settled the case. And once I settle the case, I keep my word. Part of my word was, Once I settle with a case, I’m not cooperating with the DA

Takk: Right

Adam: And I agreed as part of the settlement, to write a letter to the DA, I don’t think this is a good criminal case. I have no idea, I’m not a criminal attorney

Takk: Right

Adam: I don’t

Takk: Can’t really get involved in it

Adam: So Vance, the DA, Vance, when they asked him why he didn’t prosecute the Trump family. He blamed on Adam Leitman Bailey.

Takk: Wow

Adam: Public, then I released a letter,

Takk: Right, it became a fight then

Adam: or someone released a letter

Takk: Right

Adam: I guess Trump released a letter. Trump, saying, which is only two sentences or the Real Deal released that wherever they got it from. Maybe me, maybe them. I don’t remember but it didn’t say anything. But Vance blamed me for not prosecuting them.

Takk: Uhuh

Adam: Like I’m a criminal expert, Like I know. So it was kind of weird,

Takk: Yeah

Adam: And then Um, no one went jail

Takk: Good, it all, all ends well. So

Adam: Its creative lawyering, When you get a case, many lawyers just go through to motion, file

Takk: Yeah

Adam: Hope it goes well. We’re looking outside the box

Takk: Yeah

Adam: We’re here fighting for our client zealously and doing whatever it takes to win. Ethically and legally.

Takk: Mhmm, clearly

Adam: on the top broadcast

Takk: you hear it clearly, on the top podcast

Adam: Podcast

Takk: Really

Adam: Should be a broadcast, because it should be on TV anyway

Takk: I really liked the passion Adam has. Especially when he talks about cases. You can see the voice level go up a little bit. So his octave is a little bit higher. And you feel the passion and the intensity immediately. Couple of questions, rapid fire, okay. These are rapid-fire questions

Adam: Mhm

Takk: If you had a million dollars cash right now, to invest in real estate, what would you buy, where and why?

Adam: New York City, Upper East Side

Takk: Okay

Adam: Multi-family

Takk: Well not for a million bucks you can’t buy, maybe for 5 million

Adam: Stay tuned

Takk: okay alright. Stabilized

Adam: Stabilized, its always stabilized

Takk: What about if you had 5 million? What would you buy?

Adam: same thing

Takk: Same thing, maybe a couple more

Adam: Exactly

Takk: Okay

Adam: I believe in New York and I believe in our relation

Takk: Good, where do you live now? What neighborhood do you live in?

Adam: I live in uh, Upper East Side

Takk: Upper East Side, okay so that’s your full time residents, good, so you’re a true Manhattanize. And uh favorite restaurant in New York City?

Adam: My favorite restaurant is _

Takk: In which neighborhoods?

Adam: Wherever it is

Takk: Where is that?

Adam: Great Wi-Fi,

Takk: You can still work

Adam: I love healthy food, and um the great lattes there

Takk: Okay good that was my next question, I was going to ask, most people I ask what’s your favorite bar? But since you don’t drink, you have a favorite cafe?

Adam: Favorite bar? Wait what’s the best bar? I don’t know

Takk: You’re enjoying, no favorite café, do you have a favorite café?

Adam: Um I use to ban Starbucks because I always liked going to the deli across the street

Takk: yeah

Adam: Because of the Wi-Fi and the ability to get work done, I like Starbucks,_, anywhere I can get work done

Takk: So you’re saying, your favorite establishment, as long as they have good Wi-Fi

Adam: Wi-Fi and room to work and then I always want to buy whatever they have, coffee, and healthy food

Takk: Healthy food, as long as they have Wi-Fi and healthy food

Adam: Remember L______ is better than Starbucks because they have avocado and healthy

Takk: Yup

Adam: Could buy things that are healthy, so that is why I like it better than Starbucks

Takk: Okay, uh final question. First time I saw you was in the 2011 multifamily summit massinacko. You were a panelist there with Rudy

Adam: Wasn’t that ugly? Weren’t they all killing me?

Takk: O Man you were getting murdered

Adam: I was right, I was right

Takk: I really liked your enthusiasm on stage

Adam: I was talking about the end of rent regulation and they were like “that’s never gonna happen”

Takk: Yup you were killed

Adam: And then someone

Takk: But the panelist were all

Adam: But someone went to that lecture, do you know the back story to that?

Takk: No

Adam: Someone that attended that lecture then sued based on what they heard there and went to the United States Supreme Court

Takk: O my god

Adam: Challenging rent regulation, isn’t that crazy

Takk: Wow

Adam: They were all boo boing me and some guy was listening and he went to it and he followed it and it went to the United States Supreme Court and almost won. If they would’ve, instead of boo booing me, they would’ve gathered and done that, then done better briefs, they probably would’ve gotten better rent regulation

Takk: Yup

Adam: Yeah maybe we shouldn’t always like you know, make fun of the guy you disagree with, maybe sometimes listen a little carefully. Maybe that’s it

Takk: You had big day

Adam: they were going after me right

Takk: They were, they were and, and

Adam: And now they don’t, now they’re my clients

Takk: Well now that massinacko doesn’t even exist. That multi family is not good

Adam: They’re all

Takk: Its not even good

Adam: That whole thing, that whole bench is my client

Takk: But that was

Adam: I interrupted you, so first attended that

Takk: No, that was great, you were a great panelist. Uh I think you should do more of that. There is another one that is similar to that, Emm..

Adam: You didn’t go to the

Takk: That night too, I went that night, that was The Real deal

Adam: There was a recent one, where, about rent regulations, that Danker put on from _ village

Takk: O he did

Adam: And it was me, a state senator,

Takk: Schumer

Adam: No, it was a state senator, city council men, Levine, and one of the leaders in the tenant movement, yeah

Takk: Representing the tenants

Adam: The tenants yeah, it was in between that

Takk: Was a good debate?

Adam: And uh, a commercial broker

Takk: Okay, well I got to attend the next one. Um the other one, the one I loved you did, the same night in 2011 was the real deal with you and

Adam: the debate

Takk: With Stuart Saft, you had a like a full picture of you guys boxing it out

Adam: Macklowes son, he’s a great guy, he’s really funny, Taft,

Takk: Is that right, yeah he’s also married to another big time

Adam: Julie

Takk: Big time real estate, no?

Adam: Julie Macklowes own business

Takk: She has something else, o yeah. But that was a great night, those were some of my great memories that you

Adam: That was at Lincoln center, the main hall

Takk: That was, Amy Fisher Hall

Adam: Amy Fisher Hall

Takk: Yes sir

Adam: right, It was a good time

Takk: Did you enjoy that? Battling Stuart Saft? You kind of, I feel like

Adam: He’s a phenomenal attorney

Takk: Out spoken guy, maybe not a debater

Adam: Phenomenal attorney

Takk: attorney

Adam: But don’t you think it’s a little unfair, I had to debate in front of 5,000 brokers that real estate litigation is a good idea, how fair was that

Takk: Yeah, alright guys, I know you’re busy and we gotta wrap up here, this is a one hour podcast. So actually the longest episode today. After postproduction it will probably be about an hour. Um Adam, Thank you so much

Adam: Thank you

Takk: Really appreciate it

Adam: Thank you for having me, it was an honor

Takk: Thank you for coming on to the Real Takk Podcast

Adam: The Real Takk Podcast

• Adam Leitman Bailey

• Real Estate Litigation