Real Estate Owner – Construction and Mezzanine Loan Workouts
Represented a major real estate owner-operator in construction loan workout negotiations with a first mortgage lender and several mezzanine lenders. The negotiation involved complicated inter-creditor issues, partnership funding issues, 421-a, tax concerns and matters before the New York State Attorney General's Office.
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.
Escorial Affiliate – 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.
Greystar – Acquisition of 800 Sixth Avenue
Represented Greystar in connection with the $237.5 million acquisition of a multi-family residential apartment building, 800 Sixth Avenue in Manhattan. This complex deal also entailed assignments of existing mortgages, a 421-a component, New York State Housing Finance Agency assignment approval and bond redemption.