The art of negotiation is an invaluable skill that many lawyers strive to perfect. Last week, we had an early opportunity to put our negotiation skills to the test during the initial phase of the Mock Real Estate Transaction. Led by Adam Lustig and Phillip Sosnow of the Bilzin Sumberg Real Estate Group, the Mock Real Estate Transaction is a summer-long training program designed to give summer associates early exposure to the main phases of a real estate deal.
The ultimate goal is to close a deal for the sale of land to be used for commercial purposes. Prior to the initial negotiation for the Letter of Intent, we were separated into two teams—Miami Beckham United LLC (buyers) and Not-So-Scary, LLC (sellers). Alex Roitman and Ali Lehson served as coaches to guide us and to ensure the negotiation session moved along smoothly…and believe me, their presence was absolutely necessary to quell a brewing dumpster fire when both teams conflated the inspection period with the closing period during the negotiation!
During the negotiation session, the atmosphere was extraordinarily intense. Representatives from both sides glared at each other from across the table with hawkish eyes, and each team conferred in plain sight in private (via ad hoc binder walls) to devise (and revise) bold strategies to keep the other team on its heels.
Okay, the atmosphere was not contentious, but it was still challenging to find compromise. Each side used its leverage to negotiate favorable terms related to the purchase price, inspection period, and closing period. After approximately thirty minutes of non-stop action, both sides finally agreed to terms within the Letter of Intent! Although the deal is not yet finalized, this initial success called for a celebration.
To celebrate, we attended a summer associate alumni event at Two Chefs. During this event, we had the opportunity to build camaraderie with attorneys who began their careers as summer associates at Bilzin Sumberg. We also had a chance to hang out with two of Bilzin Sumberg’s finest—Jay Sakalo and Jessica Buchsbaum!
Supervised by the head chef, we demonstrated our superior cooking skills by preparing different dishes throughout various stations. Some of these dishes included—but were not limited to— the finest quinoa in town (prepared by Hannah Lidicker and Desiree Fernandez), perfect-to-the-crisp flatbread (prepared by Alexandra Barshel, Lauren Sabella, Jared Spector, and Leah Aaronson), perfectly-tenderized grilled steak (prepared by Forrest Murphey and yours truly), and the most upscale chocolate soufflé in South Florida (prepared by Luis Reyes, Shalia Sakona, and Jay Sakalo.
Now it’s time to put these newly acquired negotiation (and cooking) skills to use…