The Firm: Proskauer Rose receives accolades for its full-service dirt and finance real estate offering, which covers development, leasing, financing, sales and acquisitions and environmental and tax-related issues. Work highlights include its representation of CB Richard Ellis Investors in the acquisition and financing of a class A office building. American Real Estate Partners, Citibank and Vornado Realty Trust are some of its other key clients.

Sources Say:"This group impresses with its smart and hard-working attorneys who are always up to date on market developments."

Key Individuals: Ronald Sernau and David Weinberger lead the firm's real estate department. Clients view Sernau as "an extremely talented lawyer who has helped to revolutionize leasing in New York" with his creation of the Proskauer Commercial Leasing System. He advises on a range of real estate development and investment issues, with a particular specialty in assisting luxury retailers. Weinberger is renowned for his extensive experience handling real estate finance matters for clients such as Wachovia and Morgan Stanley. Steven Lichtenfeld is "an accessible, client-focused and savvy partner." He cochairs both the real estate finance and the real estate capital markets groups, and has recently represented Jefferies & Company in its $250 million IPO REIT. Peter Fass is his real estate capital markets cochair, whom interviewees regard as "an absolute legend and one of the all-time greats of real estate tax – he has masterminded a number of very clever financing devices." Fass is immensely experienced in the full range of estate securities and syndication transactions.