Cheshire Partners – Bulk Sale in Westchester County
Represented Cheshire Partners in a $2 million bulk sale of cooperative apartments in Westchester County, New York.
Matters
Sale of Chelsea Co-op Building Shares
Representation of the board of directors of a leasehold cooperative building at 101 West 23 rd Street in the $19 million sale of in excess of 85% of its shares. The shares were owned by the individual shareholders and sold to the building’s land owner.
26 W 20th Street – Cooperative Restructuring
Represented 26 West 20th Street Corp., the shareholders of which are the tenants of the building, in restructuring the corporation into a cooperative housing corporation. After converting to a cooperative, Herrick represented the cooperative board by acting as transfer agent for the sale of the third floor of the building.
$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.
Centennial Bank – $54 Million Manhattan Construction Loan
Represented Centennial Bank in a $54 million construction loan to 31st Street ZEF LLC. The loan was secured by a 40-story, 42 unit condominium tower located at 30 East 31st Street.
Sale of 66 Manhattan Cooperatives
Represented the Board of Directors of 715-723 Sixth Avenue Owners Corp. to facilitate the sale of 66 co-op apartments at the leasehold cooperative building located at 101 West 23rd Street in New York City.
$58 Million Sale of Yeshiva University Apartments
Represented Yeshiva University in the $58 million sale of 20 cooperative apartments and 78 condominium apartments located at 13-15 East 11th Street to Alabama Apartments Investors, LLC, an affiliate of Pebb Capital.
$320 Million Woolworth Building Refinancing
Represented the owner of the office condominium portion of the Woolworth Building, a joint venture between the Schron family and Steve Witkoff, in a $320 million refinancing from Blackstone.
Soho Retail Condominium Formation and Sale
Represented 115 Spring Street Company in formation and sale of a Soho retail condominium to SL Green.
Retail Condominium Sale
Represented CIM Group in the sale of a retail condominium in lower Manhattan.
Gulaylar Group – Acquisition of Three-Story Retail Condo at Extell’s International Gem Tower
Represented Gulaylar Group, in connection with its purchase of a jewelry exchange in the heart of New York City's Diamond District. Istanbul-based Gulaylar Group, is one of Turkey's leading jewelry companies with headquarters located in Turkey's commercial gold center. The Gulaylar Group plans to leverage its retail development expertise to create a world-class jewelry exchange in New York City.
Phillip House, 141 E. 88th Street-Condominium Offering Plan
Representation of a client in the filing of a condominium offering plan with the Attorney General's office for sale of approximately $272 million.
$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.
$65 Million Mortgage Financing for Luxury Hotel
Represented PCCP Capital, a real estate private equity firm in the origination of a $65 million loan used for the acquisition and repositioning of Cassa Hotel, a 165-room luxury hotel property in New York City.
Five-State Residential Portfolio Acquisition and Financing
Represented a major real estate investment and service company in its acquisition and financing of a five-state, 14-property portfolio of residential rental and condominium apartment complexes. The portfolio was financed through 14 first mortgage loans and 12 mezzanine loans, culminating in a four-day closing.
Foreclosure on Battery Park City Building
Represented an Irish bank in a complex foreclosure of a 302-unit leasehold condominium located at 225 Rector Place in New York City. When the developer defaulted on a $165 million acquisition and construction loan, we worked with the lender to foreclose and to fend off a lender liability lawsuit.
Cheshire Group – $109 Million Acquisition
Represented the Cheshire Group in connection with its $109 million acquisition of 28 East 10th Street.
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.
Family-Owned Real Estate Developer – Condo Plans
Representation of one of the New York region's premier real estate development families in offering plans for Manhattan condominium projects.
Developer – $58 Million Brooklyn Condo Project
Representation of a condominium developer in crafting and filing the offering plans for a $58 million, 93-unit project in Greenpoint, Brooklyn.
$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.
Real Estate Developer – $217.5 Million Condo Project
Representation of a real estate developer in filing the offering plans for a $217.5 million, 266-unit condominium development project in Greenwich, Connecticut.
Cheshire Group – Share Acquisition
Representation of the Cheshire Group in its acquisition of 101 unsold shares of 11 Park Avenue in Mount Vernon, New York.
Real Estate Developer – $171.8 Million Condo Project
Representation of a real estate developer in filing the offering plans for a $171.8 million, 130-unit condominium development project in Greenwich, Connecticut.
Acquisition of 1745 Broadway
Represented The Witkoff Group in its purchase of the Random House headquarters at 1745 Broadway and in the closing of $340 million in loans.