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.
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.
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.
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.
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.
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.
Represented Cheshire Partners in a $2 million bulk sale of cooperative apartments in Westchester County, New York.
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.
Represented 115 Spring Street Company in formation and sale of a Soho retail condominium to SL Green.
Represented CIM Group in the sale of a retail condominium in lower Manhattan.
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.
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.
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.
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.
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.
Represented the Cheshire Group in connection with its $109 million acquisition of 28 East 10th Street.
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.
Represented The Witkoff Group in its purchase of the Random House headquarters at 1745 Broadway and in the closing of $340 million in loans.
