Nicolette Sullivan is an associate in the New York office of Milbank LLP and a member of the firm’s Real Estate Group. She discusses what it’s like to work and learn in the real estate capital of the world.
What attracted you to the real estate space?
There’s something truly special about being able to physically see your work come to life. While transactional work can sometimes feel theoretical, real estate is ultimately all about the tangible buildings and spaces around us – whether it be financing, developing, acquiring, or selling them. I’m not sure how anyone could pass up the opportunity to play even a tiny part in the ever-changing New York City skyline!
From the first day of my rotation in Milbank’s Real Estate Group, I felt like my contributions mattered – I was encouraged and empowered to tackle substantive and complicated deal documents from the jump. This mentorship was, and continues to be, a significant draw to the real estate space.
What do real estate lawyers do? What skill set is important?
Milbank’s real estate group is particularly unique, as we represent many different players in the commercial real estate ecosystem, including borrowers, lenders, equity investors, purchasers, and sellers. This hat switching requires constant critical thinking to identify and appreciate the issues from all sides.
We primarily focus on financing, buying, and selling all kinds of real estate assets, from condos to hotels to data centers, and everything in between. From a day-to-day perspective, this means drafting and negotiating primary and ancillary deal documents, advising clients on issues – whether legal or more business in nature – performing diligence on the relevant properties, and coordinating deal closings.
The most important skill sets often vary based upon the stage in your career. The best junior associates are eager to learn, thoughtful and thorough, and take initiative without being asked. As associates become more senior, the required skill sets begin to transition to bigger-picture thinking, such as understanding a client’s needs and sensitivities and how those may inform the transaction from both a legal and relationship perspective.
What drew you to Milbank?
The complexity of the work and the people. I was aware that Milbank was well-known for working on complex and high stakes transactions and had a great reputation in the market. What I didn’t know was that brilliant legal minds could also be wonderful mentors, colleagues, and friends.
When deciding where I wanted to begin my legal career, I thought carefully about where I could see myself in the long term. I paid close attention before and after each interview to how groups interacted in the office. Were their doors open or closed? Did people say hi to each other in the hallways? Did they smile as I walked by or did they entirely avoid eye contact? It sounds silly, but you can tell a lot about a firm’s culture based on those seemingly small moments. After what could have felt like a long day of interviewing, I felt energized by my interactions with the people I had met, however briefly, throughout the day.
What keeps you busy outside of the office?
I am an avid Broadway fan, and if I’m not answering emails around seven p.m. on a weekday, nine times out of ten I am somewhere between 41st Street and 54th Street experiencing the magic of live theatre.
More importantly, I’m also a proud board and executive committee member of Groundswell Community Mural Project. Groundswell is a nonprofit focused on the intersection of youth development, arts education, and social justice. Through studio programs and various college and career workshops, Groundswell provides a safe space for young people in New York City to celebrate their strength, resilience, and diversity and brings community-driven art to our neighborhoods. I am incredibly grateful to provide legal and strategic guidance to an organization with a mission that is so close to my heart.