Centennial Bank – Loan for South Bronx Development
Represented Centennial Bank in the environmental matters relating to a loan for The Domain Companies for their development on Gerard Avenue in the Bronx.
300 Lafayette
Representing a joint venture between Related Companies and LargaVista Companies on environmental matters in the development of a Soho gas station site into a $200 million retail and office building.
Environmental Counsel for Complex Transactions
Represented a large chain of retail gas stations in the New York metropolitan area in successfully contesting a $37 million state sales tax liability. Steered the company through a successful chapter 11 bankruptcy, reducing liability to $4 million, then converted the $4 million settlement debt into a commercial loan, and further discounted the debt through an accelerated pay off settlement, achieving full releases. Handled all litigation, real estate transactions and negotiations with landlords, government authorities and lenders.
Master Leasing for 25 NYC Gas Stations
Represented a landlord in a master lease with a major multinational oil and gas company for the ground lease of 25 New York City gas stations.
Wetlands Variance
Represented a real estate owner in seeking a wetlands variance to build a large platform for trucks, as part of a development project along the Newtown Creek Superfund site.
Environmental Compliance for Luxury Residential Property
Represented a New Jersey apartment building owner in achieving environmental compliance for a luxury building built on a perchloroethylene contaminated site. In addition to resolving all violations, successfully worked with tenants to address concerns and end potential class action litigation.
Developer’s Counsel – Superfund Site
Represented a developer in the bank foreclosure acquisition of a high-profile Superfund site in Norwalk, CT. Successfully secured protections from the Connecticut DEEP and U.S. Environmental Protection Agency, in addition to securing environmental insurance and negotiating environmental issues with a big-box retail tenant.
$30 million SoHo Gas Station Sale
Represented an owner in the $30 million sale of a Mobil gas station in Manhattan’s Soho neighborhood.
90 Gas Station Acquisitions and Financing
Represented an investor in the purchase of 90 gas stations from Motiva Enterprises, acquisition financing from a bank lender and private investors; a follow-on acquisition of 15 stations and a refinancing of the portfolio with a bank lender.
E&H Members LLC – Acquisition & Environmental Due Diligence for New Jersey Whole Foods
Represented E & H Members LLC in the acquisition of 104 & 110 Washington Street, Morristown, NJ. The transaction involved a triple net leased Whole Foods, a 1031 exchange and the purchase of extensive environmental insurance related to environmental concerns stemming from a former dry cleaner.
Commercial Liability Insurer – Third Department Affirms Summary Judgment in Favor of Herrick Client in Environmental Coverage Litigation
The New York Appellate Division Third Department affirmed the Supreme Court's dismissal of all claims against a liability insurer in an environmental coverage litigation brought by the State of New York, arising from a petroleum discharge from an upstate New York gas station. Agreeing that coverage was excluded under our client’s liability policies, the court granted our motion for summary judgment while denying summary judgment motions brought by two of the other liability insurers of the company that supplied petroleum to the station, which the State had claimed was the responsible discharger under the NY Navigation Law.
Bankruptcy Chapter 11 Trustee – Bankruptcy & Sale of 4778 Broadway
Represented Donald F. Conway, the Bankruptcy Chapter 11 Trustee, in the sale of 4778 Broadway, in the Inwood section of Manhattan, to affiliates of the Housing Development Partnership Corporation and Maddd Equities, for 12.3 million, which was authorized by the Bankruptcy Court. Herrick provided strategic advice and counsel in marketing the site, analyzing potential zoning issues, environmental issues and transactional services.