Cannon Heyman & Weiss

What Cannon Heyman & Weiss does

Cannon Heyman & Weiss, LLP (CHW) is a New York-based boutique law firm founded in 2001 by Geoffrey J. Cannon, Steven S. Heyman, and Steven J. Weiss, operating from offices in Buffalo (headquarters, 726 Exchange Street, Suite 500, Larkin Building) and Albany (54 State Street, 5th Floor), with additional remote staff. The firm provides legal representation exclusively to the affordable housing and community development industry, covering real estate financing, tax credit structuring and syndication (LIHTC, New Markets Tax Credits, Historic Tax Credits), tax-exempt bond financing, RAD conversions, and corporate and municipal finance for affordable housing transactions.

CHW's client base comprises for-profit affordable housing developers (3D Development, Arker, Domain Companies, Kearney Realty & Development Group, Monadnock Development, Mountco Construction, NRP Enterprises, Savarino Companies, Triangle Equities, Vesta Corporation), nonprofit housing organizations (Artspace Projects, Belmont Housing Resources, Breaking Ground, Concern for Independent Living, Housing Visions, People Inc., RUPCO), housing authorities, financial institutions (Evans Bancorp, Whitney Capital), and historic preservation projects. The firm has 100+ named clients with multiple multi-decade exclusive relationships, including Kearney Realty since firm founding and Rochester's Cornerstone Group for 20+ years.

Revenue is generated through traditional professional services billing based on attorney time, with matters ranging from individual transactions to complex multi-source financing affordable housing deals. The firm markets through premier sponsorships at industry conferences (NYSAFAH, Landmark Society, SHNNY, NYSPHADA), thought leadership speaking engagements, client referrals, and a scholarship fund. Leadership includes Managing Partner Stephen L. Yonaty, Chief Administrative Officer Milissa A. Acquard (CPA), and Director of Finance and Administration Thomas J. Constantine, supported by ~50+ total staff including partners, associates, paralegals, legal assistants, and administrative personnel. The firm added four partners in 2022 and lateral partner Susan S. Jennings in 2023, reflecting a generational expansion of the bench.

Name

Cannon Heyman & Weiss

Legal name

Cannon Heyman & Weiss, LLP

Website

https://chwattys.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Cannon Heyman & Weiss is a New York boutique law firm, founded in 2001, exclusively serving the affordable housing and community development industry with legal services spanning LIHTC, NMTC, Historic Tax Credits, tax-exempt bond financing, and real estate transactions for developers, nonprofits, and housing authorities.

Ownership category

akta.pro rank

Headquarters

HQ city

Albany

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Legal Services Billing: Traditional law firm revenue model based on attorney time billing for legal services in affordable housing transactions, real estate financing, tax credit deals, and community development matters.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Cannon Heyman & Weiss, LLP is a boutique law firm providing legal representation to all segments of the affordable housing industry and community development. Core services include public and private transactional finance, tax credit syndication (LIHTC, New Markets Tax Credits, Historic Tax Credits), tax-exempt bond financing, real estate transactions, and corporate law for affordable housing projects.

Product overview

Cannon Heyman & Weiss is a boutique Affordable Housing & Community Development Law Firm offering legal services as a single, unified practice area. The firm's primary offering encompasses affordable housing and community development legal counsel, including real estate financing, historic preservation, new markets tax credits, low-income housing tax credits, tax credit syndication, tax-exempt bond financing, and corporate law. They operate through offices in Albany, NY and Buffalo, NY, with services delivered by attorneys and support staff specialized in these niche areas.

Differentiator

Problem solved

Functional benefit

Products and services

• Affordable Housing & Community Development Legal Services Comprehensive legal representation for all segments of the affordable housing industry and community development, including public and private transactional finance, tax credit syndication, tax-exempt bond financing, real estate transactions, and corporate law. The practice serves for-profit developers, nonprofit housing organizations, public housing authorities, and historic preservation projects primarily across New York State, with some national reach.

Quantifiable outcome

• Over 34 complex affordable housing transactions closed for Mountco over 20 years
• +2 more outcomes

Named customers23 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• NYSAFAHcoreGTM or Marketing Partner · 1 October 2023Premier sponsor and exhibitor at NYSAFAH (New York State Association For Affordable Housing) conferences including both NYC and Upstate events. CHW attorneys serve on panels and the firm co-hosts pre-conference receptions with Flaherty Salmin CPAs.
• Flaherty Salmin CPAsminorGTM or Marketing Partner · 1 September 2019Rochester-based accounting firm co-hosts pre-conference reception with CHW at NYSAFAH Upstate Conference.
• NYSPHADAminorGTM or Marketing Partner · 1 May 2019Sponsor and exhibitor at NYSPHADA 27th Annual Spring Conference at Turning Stone Resort & Casino. Partner Jeremy Root served on panel.
• Landmark SocietycoreGTM or Marketing Partner · 1 April 2019Sponsor and exhibitor at the Landmark Society's annual Preservation Conference. Partner Tim Favaro served as panelist for Historic Tax Credits and Affordable Housing session.
• Supportive Housing Network of NY (SHNNY)coreGTM or Marketing Partner · 1 June 2018Sponsor and exhibitor at SHNNY's annual New York State Supportive Housing Conference focused on supportive housing development.
• NYSPHADAminorGTM or Marketing Partner · 1 May 2018Sponsor and exhibitor at New York State Public Housing Authority Directors Association annual spring conference.
• Regions Affordable HousingminorGTM or Marketing Partner · 1 March 2018Partners Michael Greco and Jeremy Root served as panelists at Regions Affordable Housing Conference on LPA comparisons and Asset Management topics.
• Corporation for Supportive Housing (CSH)minorGTM or Marketing Partner · 1 April 2017Co-sponsoring Joint Ventures that Work for Supportive Housing event with CSH. Partner Michael Greco served on panel discussion.

Scale indicators4 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Holland & Knight LLP: Large national law firm with a deep affordable housing and tax credit practice. Comparable in that it serves similar developer and housing authority clients, but with materially greater geographic reach and capacity.
• Kutak Rock LLP: National law firm with a significant public finance and affordable housing practice, including bond counsel work. Overlaps with CHW on tax-exempt bond financing and LIHTC transactions, but operates across many other practice areas.
• Ballard Spahr LLP: Large national firm with an active affordable housing and community development practice. Serves overlapping developer and housing authority clients but offers a much broader portfolio of legal services.
• Eversheds Sutherland: Global law firm with a recognized tax credit and affordable housing finance practice. Comparable in serving tax credit investors and developers, but at much greater scale and geographic breadth.
• Nixon Peabody LLP: Am Law 200 firm with a substantial affordable housing and community development practice serving nonprofit developers, housing authorities, and lenders nationally. Represents the broader, better-resourced competitor that CHW's clients might tap for large multi-state transactions.

Direct peers

• Klein Hornig LLP: Boutique Washington, DC-based law firm focused exclusively on affordable housing, community development, and tax credit financing (LIHTC, NMTC, HTC). Closely mirrors CHW's niche specialization and client base among nonprofit and for-profit affordable housing developers.
• Applebaum & Applebaum: Small boutique law firm dedicated to affordable housing, tax credit, and community development transactions. A near-pure direct competitor with a similar single-niche focus on real estate financing for affordable housing developers.
• Bocarsly Emden Cowan Esmail & Arndt LLP: California-based boutique law firm specializing in affordable housing, tax credit, and community development law. Comparable niche specialty firm competing for similar nonprofit developer and tax credit clients, though primarily on the West Coast.
• Leventhal Brown & Pulsha LLC: Regional boutique law firm specializing in affordable housing, community development, and real estate finance. Operates with a comparable boutique model serving nonprofit and for-profit affordable housing developers in a defined geography.

Others

• Novogradac & Company LLP: National accounting and consulting firm deeply embedded in the LIHTC, NMTC, and HTC ecosystem. Not a direct law competitor, but an adjacent professional services firm serving the same affordable housing developer and investor clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles25 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cannon Heyman & Weiss