Two of New York’s major authentic estate law corporations are combining to make a apply they are billing as the largest household authorized shop in the city.
Romer Debbas and Katz & Matz, two firms that closed just about 2,000 residential product sales amongst them in 2021, have inked a offer to variety what will be the city’s biggest household authorized follow, the firms advised The True Offer.
“This is really a power in figures circumstance,” reported Romer Debbas co-founder Michael Romer. “It will generate the largest household authentic estate observe in the city, if not the state.”
Combined, the two companies have 36 lawyers and deal with the legal function on product sales throughout the area, ranging from modest apartments in the outer boroughs to multi-million greenback townhouses.
Katz & Matz, which has 13 lawyers and specializes on residential gross sales, is the 2nd-greatest law company by volume of household promotions. The organization handled additional than $670 million worth of get-side transactions from August 2020 via previous summer season, according to The True Deal’s most modern regulation company rating.
Romer Debbas, the more substantial firm with 23 lawyers and a full-service authentic estate observe, rated 12th with a lot more than $341 million worthy of of promotions. When put together, the two organizations would rank as the most energetic residential exercise.
Leaders at the two corporations commenced merger talks again in February. Romer and co-founder Pierre Debbas said they experienced been patiently searching for the previous calendar year or two for an possibility to merge with a further agency when a mutual acquaintance tipped them off that Katz & Matz co-founders Bruce Katz and Steven Matz were also in the market to incorporate with an additional company.
The two sides used the latest months hammering out the specifics of the new observe, which will work beneath the Romer Debbas identify. Katz & Matz lawyers will be going into the Romer Debbas places of work on Madison Avenue, wherever the enterprise is using more area to accommodate the progress.
Steven Matz said component of the appeal of the merger was the prospect to branch out into other practice parts like trusts and estates and landlord/tenant get the job done.
“We have been chugging along and performing nicely,” he defined. “This will actually permit us to carry on and excel.”