A Q&A with Nixon Peabody’s Erica Buckley

What role does the legal profession play in New York?

Lawyers are critical to everything that goes on in New York, especially in real estate. New York’s business climate is highly regulated, especially if you are selling co-ops and condos. I keep abreast of changing laws and policy priorities by remaining active in the bar association and key trade groups. I also bring value to my clients as a former regulator. 

What role do you play in the legal world in New York?

I am known as a go-to in navigating the Martin Act – New York’s blue-sky law that regulates the offer and sale of real estate securities such as coops, condos, timeshares and homeowner associations. I have been interested in for-sale housing my entire legal career, inspired by my late father, who was a developer in upstate New York. He prided himself on providing homeownership opportunities to first-time homebuyers, veterans and the working class. I wanted to have the same sense of purpose with my work that he did with his. After more than 20 years, it is hard to imagine doing anything else. 

What's on your agenda in 2025?

I have been calling for the year of the homeowner for a while, and 2025 might be it. I am currently working on several rental-to-condo conversions in New York City. If successful, these plans will create unprecedented opportunities for tenants to purchase their homes while addressing the dearth of affordable inventory problem facing the city. These plans will create a new tenant opportunity-to-purchase program at a time when homeownership is far out of reach for many New Yorkers. I am working on some other exciting endeavors, involving a commercial-to-residential conversion in lower Manhattan and a for-sale longevity community outside of New York City.