Matters

NYC Economic Development Corporation – Community Facility Condo – Brooklyn, NY

Represented the NYC Economic Development Corporation in the formation of a condominium at 20 Lafayette Avenue, Brooklyn, in order to facilitate the acquisition of a community facility unit with rights to a 16,000 square-foot outdoor plaza (known collectively as BAM South) to be used by various artist groups licensed by NYC.

F&T Land Group – Tangram Development, Flushing, Queens

Represented F&T Group in the financing, development, construction of the Tangram development, an approximately 1.2 million square foot mixed use project Flushing, Queens. Herrick assisted in the $230 million inventory loan filing as well as in the filing of a condominium offering plan for a 48-unit office building at 37-12 Prince Street and a 192-unit residential building at 133-27 39th Avenue in Flushing, Queens.

NYC School Construction Authority – 77 Greenwich Street

Assisted the New York City School Construction Authority (“SCA”) in the $104 million purchase of the structure of a multi-story elementary school, from an affiliate of Trinity Place Holdings. SCA will complete a multi-story elementary school and construct a 40-story condominium on the property at 77 Greenwich Street.

Cheshire Partners – Bulk Sale in Westchester County

Represented Cheshire Partners in a $2 million bulk sale of cooperative apartments in Westchester County, New York.

Yeshiva University – $58 Million Apartment Portfolio Sale

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.

Cooperative Board – Sale of 66 Manhattan Cooperatives

Represented the Board of Directors of 715-723 Sixth Avenue Owners Corp. to facilitate the sale of 66 apartments at the leasehold cooperative building located at 101 West 23rd Street in New York City.

The Cheshire Group Affiliate – $20.5 Million Sale of Manhattan Condo Units

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.

26 West 20th Street Corp. – 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.

Co-op Board of Directors – Sale of Chelsea Building Shares

Represented 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.

DNA Development – Condominium Offering Plan

Represented DNA Development LLC in the preparation of an offering plan for new condominium construction project at 280 St. Marks Avenue in Brooklyn, NY.

Real Estate Owner/Investor – $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.

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.

Real Estate Developer – Phillip House, 141 E. 88th Street-Condominium Offering Plan

Represented a client in the filing of a condominium offering plan with the Attorney General's office for sale of approximately $272 million.

Joint Venture – $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.

PCCP Capital – $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.

Real Estate Investment Company – 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.

Irish Bank – 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.

The 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

Represented one of the New York region's premier real estate development families in offering plans for Manhattan condominium projects.

Real Estate Developer – $58 Million Brooklyn Condo Project

Represented a condominium developer in crafting and filing the offering plans for a $58 million, 93-unit project in Greenpoint, Brooklyn.

Real Estate Developer – $105 Million Office Building Conversion

Represented a real estate 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

Represented a real estate developer in filing the offering plans for a $217.5 million, 266-unit condominium development project in Greenwich, Connecticut.

The Cheshire Group – Share Acquisition

Represented 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

Represented a real estate developer in filing the offering plans for a $171.8 million, 130-unit condominium development project in Greenwich, Connecticut.

The Witkoff Group – 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.