Michael Bailkin specializes in two key areas of real estate value creation: development incentives and the structuring and implementation of development projects. Development incentives encompass various programs that leverage public sector resources to enhance private projects, including financial support, EB-5 financing, cost reductions, land use actions, and acquiring land below market value. He also focuses on identifying opportunities to enhance asset value and monetize illiquid assets. Currently, he is building expertise in Public/Private/Partnership (P3) infrastructure, facilitating private funding for infrastructure projects that support adjacent private developments. Recently, he has assisted EB-5 investors in selecting projects and establishing protections against potential defaults.
His clients for development incentives range from companies and developers to institutions and landowners, while his structuring and implementation clients are typically landowners seeking to maximize property value through joint ventures or partial developments. Michael’s practice extends nationally but concentrates on New York and urban areas in the mid-Atlantic region.
Michael’s extensive background in both the public and private sectors informs his expertise. He served as Deputy General Counsel for the Roosevelt Island New Community in New York State government and later led the Economic Development program for New York City. He co-founded StadtmauerBailkin, a prominent firm for development incentives in NYC, which merged with Akerman in 2007. Since joining Akerman as Of Counsel, he has expanded his expertise to adapt to market changes.
Notable Work
Development Incentives and Major Rezoning Actions: Before joining Akerman, Michael was instrumental in structuring over $3 billion in development incentives and major rezoning actions for various clients. He played a key role in negotiating major projects like the Commodore Hotel and conceptualized the Metrotech project, a transformative initiative that revitalized Brooklyn with 9 million square feet of data technology space, securing approximately $500 million in development incentives and overseeing the rezoning and acquisition processes.
Structuring and Implementing Real Estate Projects: At Akerman, Michael has shifted focus toward structuring real estate projects, notably leading the transformation of properties owned by J & R Music World into significant developments valued at around $1 billion after the cessation of its operations.
