The creation of an Air Space Condominium in Connecticut is a legal structure that gives developers, investors, banks and property owners a way to maximize return on property investment, offer future liquidity and flexibility and, where banks and lenders are concerned, can help with restructuring and modifications of loans supported by distressed real estate assets.  It’s easily financeable and insurable, and lets owners raise cash by selling only parts of the property while maintaining ownership and long term cash flow of the retained real estate.  It sounds great right?

The problem is that converting multi-use buildings into one air space condominium is not as widely known or utilized in the real estate   industry.  It is unique and difficult to explain verbally, making developers, investors, banks and property owners  reluctant to engage law firms to do this work which, in some cases, may result in lost opportunity.

Patrick Hanna, Partner at Carmody Torrance Sandak Hennessey, said, “I used to roll a survey map out on a conference table and have clients or potential clients gather round while I used colored markers and my limited drawings to attempt  to explain how air space condominiums work.”  He thought that there might be  a better way to explain the concept.

“I thought that a video using animation and aerials would help me to communicate exactly how the concept works for an audience of people in the Real Estate world like bankers, developers, investors and owners, but there would be other benefits too.”

The video he created with Geomatrix Productions works beyond its role as a creative means of marketing.  It is used as an in-house training tool for associates and attorneys that do not focus their practice on real estate to help those attorneys get up to speed and confident in discussing and recommending the approach or at least having a working knowledge of the subject in the event the topic arises.

“It also makes clear to attorneys outside the Real Estate and Land Use practice that we have a unique offering. It opens the door to easier marketing conversations when the opportunity arises.” Thus, the video provides an opportunity for cross-training and cross-marketing.

“The video was a challenge for us to produce,” said Cathie Reese, producer.  “It took us some time to fully understand the process so that we could boil it down into something that made it look simple.”

The legal process is not so simple.  It’s a niche offering and Carmody was part of the Connecticut Supreme court case that validated the concept.

The video resides on the landing page of the firm’s Real Estate | Land Use practice, and has been pushed out on social media.  According to Hanna, “I will use it at presentations and seminars; much more interesting for the audience than listening to me!”

Video helps market, sell, train and more.  Give Geomatrix a call; we’d like to discuss your ideas and ways we can help you.

Zoom’s most under-utilized feature: On-screen presentation of exhibits

Presenting on-screen exhibits during remote video depositions is a powerful feature of these applications but requires learning a complex new technology or adding a trained trial technician to your deposition.  The features available are quite effective and are similar in some ways to our electronic trial presentation services or a picture-in-picture video deposition.  All attending the deposition can see exhibits shared in real time. Remote video depositions allow for exhibit annotation with distinctions of who creates the mark ups. We offer a look into technician operated, and self-run exhibit presentations in this short video.

Zoom’s fatal flaw: no control over on-screen video feed

While do-it-yourself automatic Zoom recordings may appear as an easy solution, they have one basic limitation that renders them practically useless for the recording of video depositions.  An automatic Zoom recording offers no control over the on-screen video feed and will switch views depending on who is speaking.  There is value in your witness’s reaction and that value is lost when the recording is compromised due to the automated functionality of Zoom.  A Geomatrix depo technician will manage the process and ensure  a dependable, professional recording.

Remote video deposition recording technology is evolving quickly. Call Geomatrix to find out more about it or to schedule your remote video deposition.