9 Bruckner Boulevard Acquisition and Financing
Represented an affiliate of Somerset Partners in the $7.5 million acquisition and financing of 9 Bruckner Boulevard in the South Bronx. The industrial site will be converted into a 30,000 square-foot food hall, to be known as Bruckner Market. The property is situated opposite of Somerset’s planned residential development project along the South Bronx waterfront.
Developer – 270 Unit Condominium Project
Representation of a developer in the structuring and financing of a 270 unit ground lease condominium project in Battery Park City in Manhattan. The transaction involved a complex corporate structure with two tiers of preferred equity, a mezzanine loan, construction loans, senior secured debt and the need to comply with the laws governing condominiums.
Euristates – Boston Development Joint Venture
Representation of Euristates, Inc. in connection with its joint venture with a Boston developer for construction of a residential condominium complex. We also represented the joint venture in connection with construction financing for the project.
Marathon Quik Park – Joint Venture
Representation of Marathon Quik Park, one of New York's leading parking operators, in connection with a joint venture with a major rental apartment developer for the construction of a mixed-use garage and residential development in New York's garment district.
Samsung New York Real Estate Development
Represented Samsung Corporation in connection with a mixed-use real estate development in the New York region. We worked closely with Samsung’s executive and due diligence team in negotiating the purchase and key documents, completing the due diligence and locating a local developer partner in the U.S.
$156 Million Hotel Construction Financing
Represented a major U.S. investment bank in the $156 million senior construction financing of a hotel condominium resort in Telluride, Colorado.
$105 Million Office Building Conversion
Represented a developer in the acquisition and financing of a commercial building in Chelsea, Manhattan, and its conversion to a mixed-use retail/residential building, the sale of the commercial unit, and the condominium offering of the residential units.
Developer – $120 Million Condominium Business
Representation of a developer in creating a condominium regime on a commercial property in The Bronx, New York, to facilitate future leasing and potential sales. We are also advising the developer on the project’s associated applications to the New York Attorney General.
Manhattan Construction Access Agreements
Represented Gemini Real Estate Advisors in the negotiation of two construction access agreements in connection with their development of a building in Midtown South.
Lincoln Square Synagogue Property Exchange
Represented the Lincoln Square Synagogue in a high-profile exchange of property and development rights that enabled the development of the largest new synagogue in Manhattan since the 1920's. This transaction earned the Real Estate Board of New York's "Most Ingenious Deal of the Year" award.
$20.5 Million Greenpoint, Brooklyn – Condo Development
Represented G4 Capital Partners in a $20.5 million financing for an Oren Evenhar condominium development at 50 Greenpoint Ave in Greenpoint, Brooklyn.
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.
Gramercy Park Construction Loan
Represented a New York State pension fund in a $91 million construction loan made to the owners of a Gramercy Park building.
$90 Million Miami Construction Loan
Represented a major bank in a $90 million construction loan for a luxury residential development on Biscayne Boulevard in Miami.
Reuters 3 Times Square Development
Represented Reuters in the development, construction and leasing of 3 Times Square, an 855,000 square-foot office tower in Times Square.
The Republic of Turkey’s New York Consulate
Representing the Republic of Turkey in the development and construction of a new and expanded consulate at 46th Street and 1st Avenue across from the UN's General Assembly; a signature project as it expands its diplomatic footprint around the world. Our work includes advice on government relations, real estate development and construction, leasing, land use and zoning.
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.
Marathon Real Estate Opportunity Fund Transactions
Represented Marathon Real Estate Opportunity Fund in connection with a number of sophisticated transactions including domestic and international joint ventures and strategic partnerships, hotel property acquisitions, construction and development of Marriott branded hotels, Florida condominiums and documiniums, the acquisition of office complexes in Paris, and the acquisition of one of the largest NYC parking owner/operators.
Second Avenue Subway Development Transaction
Represented an apartment corporation in a complex transaction involving the Metropolitan Transportation Authority's condemnation of portions of the property to make way for the construction of the Second Avenue subway.
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, 421a, tax, and attorney general matters.
Zoning and Land Use Counsel to Steiner NYC
Represented Steiner NYC in connection with the zoning and land use analysis of various New York City development sites, including the site of a 52-story residential rental tower in Downtown Brooklyn.
Gotham Organization – Mixed-Use Development
Representation of Gotham Organization, a premier New York developer and construction company, in various government relations matters.
Joint Venture Development of Brooklyn Bridge Park
Advised Toll Brothers City Living, the urban development division of Toll Brothers, Inc. (NYSE: TOL), in its joint venture with Starwood Capital Group to develop a 550,000-square-foot luxury hotel and residential complex at Brooklyn Bridge Park.
Toll Brothers – 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.
Gabreski Airport Lease and Site Development
Represented Rechler Equity Partners on all aspects of their 40-year renewable ground lease to redevelop Suffolk County’s 55-acre Gabreski Airport.
Hotel Construction Financing
Represented a major New York hotel group in a construction loan on 6 Columbus, an 88-room boutique Manhattan hotel. We assisted our client in all aspects of the project's development, including construction, interim and permanent financing, litigation with various contractors, and the implementation of a hotel management agreement.
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.
Art Gallery Condo Development
Represented Youngwoo & Associates LLC in developing a 16-story condominium in New York's West Chelsea neighborhood. The building is designed to be an art gallery, and our work included an air rights acquisition and construction loan financing.
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.
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.
Subsidized Housing Project Sponsor – Market Rate Conversion
Representation of a sponsor in settling a litigation involving the sponsor's effort to convert one of New York City's largest Mitchell-Lama subsidized housing projects (some 1,200 units on Manhattan's Upper East Side) to market rate housing. The settlement involved the creation of entirely new subsidy programs by the city and by the sponsor, and an approximately $550 million condominium conversion.
CFG Stadium Group – Soccer Stadium Development
Represented an affiliate of New York City Football Club in the negotiation of a memorandum of understanding with the City of New York for the financing, construction, development and build-out of a new soccer stadium.