Matters

Acquisition of 685 Fifth Avenue’s Non-Retail Floors

Represented City’s Property Development New York (CPD NY), the commercial property arm of Turkey’s Gulaylar Group, in the acquisition, financing and leasing of the non-retail portion of 685 Fifth Avenue.

$195 Million Long Island City Property Sale

Represented FBE Limited LLC in the $195 million sale of the property located at 24-02 49th Avenue, Long Island City. Along with the defeasance of a REMIC mortgage that was encumbering the property, and the completion of a reverse 1031 exchange transaction in which the property functioned as the relinquished property.

$31 MIllion Rego Park Acquisition

Represented Blumenfeld Development Group in the $31 million acquisition of 99-01 Queens Boulevard from Vornado Realty Trust.

$161 Million 9-47 Hall Street, Brooklyn – Property Sale

Represented an entity owned by the Schron and Fruchthandler families and several other contentious partners, in the $161 million sale of 9-47 Hall Street, an industrial/commercial office building in Brooklyn. 

Extell – $360 Million Manhattan Portfolio Purchase

Represented Extell Development Company in the purchase, flip and financing of multiple properties in a portfolio of properties owned by the Duell Family at a purchase price of $360 million.

$92 Million Acquisition of 1501 Lexington Avenue

Represented the Schron family in the $92 million acquisition of a multifamily building located at 1501 Lexington Avenue.

Acquisition of 1285 Avenue of the Americas

Represented the Schron and Fruchthandler family in the acquisition of a joint venture interest in the acquisition by RXR Realty LLC of 1285 Avenue of the Americas.

$84 Million 1600 Sedgwick Avenue, Bronx – Acquisition and Financing

Represented FBE Limited LLC in the $84 million acquisition and financing of 1600 Sedgwick Avenue in the Bronx, a HUD-subsidized low income housing property.

$66 Million Flushing, Queens Parcel Acquisition

Represented XIN Development Group International, Inc. (“XIN”) in its acquisition of a parcel of land in Flushing, Queens for $66 million. XIN plans to build a mixed-use condominium with ground and second-floor retail  on the site of the former RKO Keith Theater.

$20.5 Million Manhattan Condominium Unit Sale

Represented 141 East 88th Street LLC, an affiliate of The Cheshire Group, in the $20.5 million sale of 14 unsold condominium units subject to rent regulation to an affiliate of RFR Holding LLC.

$131 Million Manhattan Development Site Sale

Represented Rabina Properties LLC in the $131 million sale of a development site consisting of six properties in Manhattan's NoMad neighborhood. The sale also included additional Inclusionary Housing benefits and an investment by our client in the acquiring entity.

Private Equity Fund – New York City Real Estate Sales

Represented an affiliate of a private equity real estate fund in several transactions involving the sale of eight New York City properties.

New Orleans Hotel Acquisition

Representation of a hospitality enterprise in the acquisition of a hotel in New Orleans.

$167 Million Hudson Yards Development Site Sale

Represented Sherwood Equities in the $167.3 million sale of a Hudson Yards Development Site to the McCourt Group, headed by former Los Angeles Dodgers owner Frank McCourt.

Upper East Side Development Rights Acquisition

Represented an affiliate of Toll Brothers City Living in the acquisition of development rights from a site on First Avenue between East 52nd Street and East 53rd Street in Manhattan.

$68 Million Woolworth Building Condo Conversion and Sale

Represented a joint venture between Cammeby's International and The Witkoff Group in the conversion of the iconic Woolworth Building's top 30 floors to a condominium unit, and the $68 million sale of the unit to Alchemy Properties.

Bronx General Post Office Acquistion

Represented Youngwoo & Associates in the acquisition of the Bronx general post office building from the United States Postal Service. We also handled the permanent lease of a section of the building to the USPS so that they maintain a continued retail presence in the area, a loan agreement related to the Depression-era murals inside the building, and a joint venture agreement.

$104 Million Union Square Hotel Acquisition

Representation of Hersha Hospitality Trust in connection with its $104 million purchase of the Hyatt Union Square Hotel.

$252 Million Manhattan Multifamily Acquisition

Represented the Schron family in connection with the $252 million acquisition of the Monterey, a 521-unit multifamily property located at 175 East 96th Street.

High Line Acquisitions and Developments

Represented Sherwood Equities in connection with the acquisition of development sites at 508 West 20th Street and 360 Tenth Avenue, near the High Line Park. We also assisted Sherwood with the acquisition and sale of a significant amount of development rights; and the financing and development of the sites.

281 Fifth Avenue Assemblage and Sale

Represented the KRE Group in the assemblage of a development site including 281 Fifth Avenue, and the sale of the assemblage to Victor Nomad LLC. The deal included an adjacent air parcel with additional development rights and inclusionary housing certificates.

Manhattan Building Acquisition and Hotel Development

Representation of FIT Investment Corporation in connection with the zoning analysis and acquisition of 45 East 33rd Street in New York City, and its redevelopment of the building into a 93,000 square-foot hotel.

Global Investment Bank – Hotel Brand Transactions

Representation of a global investment bank in its acquisition—and subsequent sale—of a national business-class hotel brand.

Utah Resort Condo Acquisition

Represented a principal of a joint venture in the venture’s acquisition, from another of its principals, of a resort condominium in Deer Valley, Utah. In connection with the acquisition and future development of the resort, the joint venture also obtained up to $212 million in construction financing.

$380 Million National Apartment Complex Acquisition

Represented a joint venture between two major real estate companies in its $380 million acquisition and financing of 52 apartment complexes in 14 states.

$315 Million 43-Property Portfolio Acquisition

Represented a joint venture between two major real estate companies in its $315 million acquisition and financing of a 43-property portfolio of office and commercial buildings in Long Island, New York.

$161 Million Long Island Office Acquisition

Represented a joint venture between two major real estate companies in its $161.5 million acquisition and financing of two Long Island, New York office buildings.

Garrison Special Opportunities Fund Loan Acquisition

Represented Garrison Special Opportunities Fund LP in the acquisition from a large investment bank of senior mezzanine and first mortgage loans encumbering a property on Manhattan's Upper West Side. Our work included negotiating financing for the loans with a European bank, and handling the restructure of a junior mezzanine loan, a senior mezzanine loan and a mortgage loan with the owner.

Domino Sugar Factory Redevelopment

Represented The Community Preservation Corporation in the acquisition, financing and development of the 11.5-acre waterfront complex in Williamsburg, Brooklyn, that was formerly home to Domino Sugar.

Parkchester Condominium Redevelopment

Represented a joint venture between The Community Preservation Corporation, Morton Olshan of Mall Properties Inc., and Jeremiah O'Connor of The O'Connor Group, in the complete renovation and rehabilitation of the 171-building Parkchester condominium in the Bronx, New York, including the acquisition and financing of 6,361 unsold residential condominium units, 500,000 square-feet of retail and commercial space and five parking garages. Our work included government relations, land use, real estate and tax advice. The project required the cooperation of our clients, utility companies, state and city politicians, religious leaders and local residents, and included the passage of special legislation.

Manhattan “Sky Garage” Condo Development

Represented Youngwoo & Associates LLC in developing a unique residential condominium building in New York's West Chelsea neighborhood, which features full-floor units with a parking facility for a car at each level. We advised on the land acquisition, construction financing and zoning issues.

Asset Management Company – Joint Venture Acquisition of 370 Columbus Avenue

Represented of a major asset management company in its joint venture purchase, with a real estate investment firm, of 370 Columbus Avenue.

Asian Government NYC Headquarters Acquisition

Represented the government of an Asian nation in the acquisition of its main headquarters in Manhattan, including a cultural center.

Investment Bank – Hotel Sale

Representation of an investment bank in its sale of a five-star New York City Hotel to the Blackstone Group.

$60 Million Manhattan Retail Acquisition and Leasehold Financing

Represented a developer in forming and capitalizing a purchaser, and in the $60 million acquisition and leasehold financing of a master lease of the retail space at 1657 Broadway, Manhattan.

$330 Million Manhattan Ground Lease Sale

Represented The Lightstone Group in the combined $330 million sale of a ground lease position owned by Abraham Kamber & Company LLC and a subleasehold estate owned by Lightstone at 1407 Broadway.

$153 Million Interest in 5th Ave Office Building

Representation of real estate investors in connection with the $153 million sale of a beneficial interest in an office building on Fifth Avenue, Manhattan.

$175 Million North Carolina Office Building Purchase

Represented Rabina Properties in the $175 million purchase and financing of a 640,000 square-foot office building in Charlotte, North Carolina's downtown business district.

Manhattan Commercial Condominium Sale

Represented a real estate LLC in the sale of the commercial condominium unit at 205 Bleecker Street to two affiliates of Infinity Real Estate, LLC.

$30 Million Bronx Movie Theater Acquisition

Represented the Lightstone Group in the $30 million acquisition of the Whitestone Cinemas multiplex in the Bronx, New York. The sale was the second largest in the Bronx in 2012, according to data from Real Capital Analytics.

$220 Million Chicago Office Tower Acquisition

Represented The World-Wide Group and Cammeby's International in the $220 million joint venture acquisition of a Class A tower in Chicago, Illinois.