Matters

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.