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David AbromowitzDavid Abromowitz

(617) 574-4016
dabromowitz@goulstonstorrs.com
Fax: (617) 574-7563
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Boston
400 Atlantic Avenue
Boston, MA 02110-3333

Overview

Complex development and finance for public-private partnership transactions, for-profit, non-profit and governmental agencies are the focus of David Abromowitz's nationally recognized practice. A major focus of his practice is affordable housing and economic development, including Section 42 multifamily residential properties, active adult and assisted living communities, revitalized public housing and HOPE VI matters, HUD Section 236, Section 8 and FHA financings, community land trusts, and other multi-layered public and private financings. David is a Director and Co-Chair of the firm's Real Estate group.

Representative Experience

  • Represented a Massachusetts-based developer and manager of affordable housing on the successful sale of a multi-property portfolio in one of the largest affordability preservation transactions in the Commonwealth’s history.
  • Sale for national REIT of 14 property,  1,200 unit apartment portfolio involving numerous subsidy, regulatory and structuring issues
  • $160 Million securitized refinancing of 1,283 unit apartment complex involving subordination of three public loans and ground lease negotiations to meet rating agency requirements.
  • Counsel to John Hancock Financial Services on the sale of the Hancock Tower and related buildings to Beacon Capital Partners as well as on the subsequent repurchase of the Brown and Berkeley Buildings from Broadway Partners.
  • $700 Million Boston Convention and Exposition Center project for the Boston Redevelopment Authority, including land assembly, relocation and multi-party development arrangements.
  • Master-planned development of 3,000 acre former Digital Equipment Corporation campus into 2,500 home planned unit development (including multiple hotel/conference centers, and Rees Jones and Jack Nicklaus designed golf course) for Pinehills LLC.
  • Tax credit equity investments for various national syndicators, including numerous tax credit partnerships throughout the Southeast, Mid-West and Mid-Atlantic, and multi-property fund of 14 properties in 7 states.
  • Multiple acquisition/rehab resyndications for non-profit sponsors of Section 8, Section 236 and other older assisted projects using both housing and historic tax credits.
  • Portfolio transaction for Section 236 and Section 8 owner involving all aspects of over 3,000 units of HUD-assisted housing.
  • Over $400 Million of bridge and fund financings representing one of the premier national low income housing tax credit syndicators.
Professional and Community Involvement
  • Senior Fellow, Center for American Progress
  • Board of Directors, MassDevelopment
  • Vice-Chair, National Housing & Rehabilitation Association (2013-present); Secretary (2011-2013); Board of Directors (1997-present)
  • Board, Equity Trust (1996-present)
  • Co-Chair, Governor Deval Patrick’s Housing Transition Working Group (2006-2007)
  • Co-Chair and founding member, Lawyers Clearinghouse on Affordable Housing and Homelessness (Co-Chair, 1993-1998) Board, YouthBuild USA (1998-present) Chair, ABA Forum on Affordable Housing and Community Development (1996-1997) and Board Member (1987-1998)
  • American Bar Association Forum on Affordable Housing and Community Development
  • Past President, Congregation Eitz Chayim
  • Former Chair, Goulston & Storrs Pro Bono Committee (overseeing Firm’s award-winning pro bono program) (1997-2007)
Awards and Recognition
  • Martindale Hubbell Peer Review Rated AV Preeminent TM
  • Massachusetts Super Lawyer, 2004 - 2005, 2008 - 2013
  • Distinguished Achievement Awardee, B'Nai B'rith Housing New England,  2013
  • Recognized as a "social capitalist" by SCI Social Capital, Inc., 2008
  • Honored by Fair Housing Center of Boston, 2007
  • Honored by National Economic Development and Law Center, 2004
Speaking Engagements
  • Panelist, "Financing Rental Housing--REO to Rental in the Single Family Arena," Urban Institute and CoreLogic Symposium on Housing Finance, 2013
  • Keynote Speaker, National Community Land Trust Conference, Albuquerque, New Mexico, 2010
  • Featured Speaker, Neighborworks America National Conference, Atlanta, Georgia, 2009
  • Panelist, "Green Initiatives in Affordable Housing," Boston Bar Association, 2009
  • Presenter, "Public Service Opportunities in the Private Sector", Harvard Law School, 2003
  • Presenter, National Association of Black Realtors, "Making Affordable Assisted Living a Reality", Louisville, KY, 2000
  • Presenter, Real Estate Finance Association forum, 1999
Press Releases
num: 40
clientAdvisories: Deepening Credit Crisis - Legal Developments
clientAdvisories: The Housing and Economic Recovery Act of 2008
publicationsArticles: "Addressing Foreclosures: A Great American Dream Neighborhood Stabilization Plan," Center for American Progress
publicationsArticles: "A Foreclosure-Free Option," Boston Globe
publicationsArticles: "Striving For Green Affordable Housing," GlobeSt.com
clientAdvisories: Affordable Housing and Economic Development Notes
clientAdvisories: Neighborhood Stabilization Program Update
clientAdvisories: FY 2009 Appropriations Mixed Bag for Housing Programs, FY 2010 Looking Brighter
clientAdvisories: New Energy Efficiency Coordination Between HUD and DOE
clientAdvisories: HUD Issues Notice of Funding Availability for Energy and Green Retrofits to Section 202, Section 811 and Section 8 Housing
clientAdvisories: Broad Housing Tax Credit Consensus Reached
publicationsArticles: "Groups Agree to LIHTC Stimulus Plan"
clientAdvisories: PACE Bond Financing for Energy Projects Gaining Favor, Adopted in New York
clientAdvisories: Affordable Housing Preservation Law Imposes New Notice Requirements, Right of First Refusal and Right of First Offer
publicationsArticles: The Next Housing Crisis
publicationsArticles: "Crossing the Finish Line: Exchange Funds Push Massachusetts Deal Forward", Tax Credit Adviser
publicationsArticles: "A Responsible Market for Rental Housing Finance," Center for American Progress
publicationsArticles: "Making the Community Reinvestment Act More Effective," Center for American Progress
publicationsArticles: "Homeownership Done Right," Center for American Progress
publicationsArticles: "A Path to Homeownership," Center for American Progress
clientAdvisories: State Tax Credit Encourages Expansion of Market Rate Housing Stock
publicationsArticles: "Local Commercial Real Estate Could Get Boost from Israeli Investors," Banker & Tradesman
publicationsArticles: "Why Public Spending Matters," New York Times
publicationsArticles: "Which Way Out?," Apartment Finance Today
publicationsArticles: “Pagos iniciales podría sabotear la compra de vivienda (Down payments could sabotage homeownership),” ImpreMedia
publicationsArticles: "Take a Load Off, Fannie: A Bold Plan to Boost Housing," The Atlantic
publicationsArticles: "Massachusetts Affordable Housing Professionals Travel to Israel with JCRC," Boston/ SF News
publicationsArticles: Homeowner Refinancing Would Kick-Start the Economy
clientAdvisories: HUD Issues Final Notice for Rental Assistance Demonstration (RAD): Owner Opportunities for Converting Public Housing, Mod Rehab, Rent Supp and RAP Assistance to Project-Based Vouchers
pressReleases: Goulston & Storrs Represents State Street Development in Record Breaking Massachusetts Housing Finance Agency Deal
publicationsArticles: "GSE Reform Could Have Dire Unintended Consequences for Homeowners," Mortgage News Daily
publicationsArticles: "The Housing Market is Not Only for Homeowners," Center for American Progress
clientAdvisories: Commonwealth Considers Rule Changes to Impact Multifamily Owners Under Affordable Housing Preservation Law Chapter 40T: Considerations Prior to Marketing a Massachusetts Apartment Complex
pressReleases: Goulston & Storrs Director David Abromowitz Elected Vice-Chair of National Housing & Rehabilitation Association
pressReleases: Goulston & Storrs Captures 47 Spots on the 2013 Massachusetts Super Lawyers List; 14 on the 2013 Massachusetts Rising Stars List
pressReleases: Goulston & Storrs’ David Abromowitz to Join Housing Working Group to Advise Boston Mayor-elect Marty Walsh
publicationsArticles: "Goulston & Storrs' Director Named to Mayor's Transition Team," Boston Business Journal
publicationsArticles: "Fannie, Freddie hiking mortgage loan fees," The Boston Herald
publicationsArticles: "Manuilife Spends $618M On Gateway City Office Assets," Law360
pressReleases: MEDIA ALERT: Goulston & Storrs, Gross Kleinhendler to Host Governor Deval Patrick at Massachusetts Real Estate Opportunities Round Table in Israel
May 2014
MEDIA ALERT: Goulston & Storrs, Gross Kleinhendler to Host Governor Deval Patrick at Massachusetts Real Estate Opportunities Round Table in Israel
December 2013
Goulston & Storrs’ David Abromowitz to Join Housing Working Group to Advise Boston Mayor-elect Marty Walsh
October 2013
Goulston & Storrs Captures 47 Spots on the 2013 Massachusetts Super Lawyers List; 14 on the 2013 Massachusetts Rising Stars List
March 2013
Goulston & Storrs Director David Abromowitz Elected Vice-Chair of National Housing & Rehabilitation Association
August 2012
Goulston & Storrs Represents State Street Development in Record Breaking Massachusetts Housing Finance Agency Deal
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