Construction and Mezzanine Loan Workouts
Represented a major real estate owner-operator in workout negotiations involving a series of construction loans with their first mortgage lender as well as several mezzanine lenders. This negotiation involved complicated inter-creditor issues, partnership funding issues, 421-a, tax, and attorney general matters.
Real Estate Developer – 421-a Exemption
Representation of a Manhattan real estate developer in obtaining a section 421-a real property tax exemption.
Real Estate Investment Company – Section 421-a Tax Advice
Representation of a real estate development, investment, management company in obtaining a Section 421-a Real Property Tax exemption.
Madison Realty Capital – Bushwick Zoning Due Diligence
Represented Madison Realty Capital in zoning due diligence and 421-a vesting due diligence for a new two-building rental complex in Bushwick, Brooklyn.
Prospect Heights Condominium Development
Represented an affiliate of Escorial in the redevelopment of a former parking garage in Prospect Heights into residential condominiums, including counsel on land acquisition, unused development rights, 421-a certificates, design and construction agreements and the condominium approval process.
World-Wide Group – Condo Construction Financing
Represented World-Wide Group in a $180 million construction loan and mezzanine financing by Helaba and a major international bank for the construction of a high-rise condominium on East 74th Street and Second Avenue. We also represented World-Wide in its acquisition of six neighboring properties and adjoining development rights to create the assemblage, which also included inclusionary housing and 421-a credits.