POS System Purchase
Represented an affiliate of Legends Hospitality in the purchase of a mobile and Bluetooth-enabled point-of-sale (POS) system for use at stadiums and arenas. The POS system streamlines the purchase process for both the venue and the fans thereby effecting a more seamless experience at a game or concert.
Employment Separation Agreement
Representation of a senior executive of a major hotel chain regarding an employment separation agreement.
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.
$67 Million Manhattan Hotel Construction Loan
Represented M&T Bank in a $67 million acquisition and construction loan for the development of a 248-key Hilton Garden Inn at 6-10 Water Street.
Construction Financing and Joint Venture for Midtown Hotel
Representation of an affiliate of Traders Co. in the construction financing and joint venture with equity partner for a hotel located in Midtown Manhattan with Bank of Nova Scotia.
FIT Investment Corporation – Manhattan Office Building Acquisition and Hotel Development
Representation of FIT Investment Corporation in connection with the zoning analysis and acquisition of 45 East 33rd Street in New York City for a hotel development.
Hotel des Artistes, Inc. v. Cafe des Artistes, Inc.
Representation of the Hotel des Artistes in TTAB cancellation proceedings, which resulted in the Hotel des Artistes recovering the famous Cafe des Artistes trademark registrations. Hotel des Artistes, Inc. v. Cafe des Artistes, Inc. (TTAB 1999)
Joint Venture Acquisition of Hotel Assets and Properties
Represented an affiliate of the Bauhouse Group in a joint venture acquisition from affiliates of Lehman Brothers Holdings Inc. of the assets and business of NYLO Hotels LLC; and three NYLO Hotel properties located in Texas and Rhode Island.
Hotel Developer – Construction Litigation
Representation of New York City Hotel developer in construction litigation against general contractor.
Fund Acquisition of a Branded Hotel
Representation of a private equity fund in the acquisition of a hotel in Houston, Texas.
Lender – Times Square Hotel Enforcement Action
Represented the lender of a $65 million loan to fund the acquisition of a Times Square area hotel following the alleged breach of a provision in the loan agreement requiring that a restaurant tenant servicing the hotel be opened to the public by a specific date. This litigation was ultimately settled favorably after hard fought litigation.
$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.
Utah Resort Condo Acquisition
Represented a principal of a joint venture in the venture’s acquisition, from another of its principals, of a resort condominium in Deer Valley, Utah. In connection with the acquisition and future development of the resort, the joint venture also obtained up to $212 million in construction financing.
Special Servicer – Dismissal of Debtor’s Bankruptcy
Representation of a special servicer in having a debtor’s bankruptcy dismissed, with prejudice, in a hotly contested cram-down confirmation proceeding.
Investment Bank – Resort Financing
Representation of an investment bank in providing senior acquisition financing for a beachfront resort in Bermuda and resort hotel in Santa Fe, New Mexico.
Real Estate Investment Firm – Development of Hotel Branding and Operations Systems
Represented a real estate investment firm in the development of proprietary branding and operations systems for a unique hotel concept involving collaborative work spaces.
Legends Hospitality – Willis Tower Observation Deck
Represented Legends Hospitality in the provision of design, construction development and management services for the observation deck and other attractions at Willis Tower in Chicago.
Legends Hospitality – Los Angeles Football Club Concessions Joint Venture
Represented Legends Hospitality in a joint venture with the Los Angeles Football Club (LAFC) to provide concessions services at the team’s new 22,000-seat soccer stadium to be constructed on the site of the Los Angeles Memorial Sports Arena. LAFC is scheduled to begin play in the new stadium in 2018. As part of the joint venture agreement, Legends initially operated the food hall that was on the site of the former arena.
Legends Hospitality – The Intrepid Marketplace
Represented Legends Hospitality in a joint venture with the Intrepid Air and Space Museum to provide concessions services for a new high-end food market located on the U.S.S. Intrepid.
$110 Million New Yorker Hotel Financing
Represented HSA-UWC and New Yorker Hotel Management Co. Inc. in a $110 million financing for 481 8th Avenue, a mixed-use project consisting of the iconic New Yorker Hotel, office and retail.
Legends Hospitality – Miami SkyRise
Represented Legends Hospitality in a joint venture regarding the Miami SkyRise project consisting of an entertainment and observation tower overlooking Biscayne Bay in Miami. Legends is providing consulting, management and hospitality services with respect to the development and operation of the project and will operate the concession once opened.
New World Realty Advisors – Golf Club Ownership Transfer
Represented New World Realty Advisors, a premier real estate advisory firm, in connection with transferring golf club operations to a not-for-profit organization.
Legends Hospitality – Senior Secured Credit Facility
Represented Legends Hospitality in a $225 million senior secured credit facility, consisting of a $40 million term loan, a $35 million term, and a $150 million revolving credit facility. The proceeds were used to refinance existing debt and will be used for the construction and build-out of the observation deck at the new World Trade Center in New York.
Brooklyn Bridge Park Developers – Dismissal of Lawsuits Seeking to Halt Construction
Successfully defended the developers of a $320 million Brooklyn Bridge Park hotel and condominium project, defeating two lawsuits filed by activists seeking to halt construction of the project. In a decision of significance to the New York real estate industry, Herrick secured an order in New York state court denying plaintiffs’ motions for both an injunction and a declaratory judgment that the planned buildings exceeded height limitations specified in the project’s governing documents. The court found that the development complied with the law and further ruled the legal challenge barred by the statute of limitations for bringing an Article 78 proceeding. Herrick then defeated a second lawsuit claiming to assert a different land use violation, securing dismissal of the complaint on the grounds of failure to exhaust administrative remedies, statute of limitations and res judicata. Herrick continues to represent the clients on the plaintiffs’ appeal.
Special Servicer – Motion for Summary Judgment Granted, Lender Liability and Breach of Good Faith Claims Dismissed
Successful defense of the special servicer of an $18 million loan secured by a Parsippany, New Jersey hotel property against the debtor's claims of fraud, lender liability and breach of good faith. In December 2014, the court granted our motion for summary judgment, dismissing all claims against our client.
BSA Approval for Landmark Building Conversion
Represented Lightstone Group in obtaining New York City Board of Standards and Appeals approval for a proposed alteration of a landmark, Garment District office building into a hotel.
Global Advertising Company – $10 Million Avoidance Action
Negotiated a settlement equal to two percent of the original demand on behalf of a global advertising services company in a $10 million avoidance action arising from a subsidiary's involvement in the advertising and branding campaign for the failed Fontainebleau hotel and casino in Las Vegas.
St. Maartin Property Development and Sale
Represented a private investment management company and its joint venture partners in their development and disposition of property in St. Maartin, Netherlands Antilles, to hotel and residential developers, including a complex ground lease structure.
Empire Resorts Acquisition
Represented Concord Associates, L.P. in its announced merger agreement and subsequent termination with Empire Resorts, Inc. involving the issuance of approximately 40% of the outstanding common stock of NASDAQ-listed Empire Resorts, Inc., in exchange for real property on the site of the Grossinger's Hotel and the Concord Hotel in the Catskill mountain region of New York.
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.
Hospitality Group – Building Violations
Advise client on matters concerning building violations before the NYC Environmental Control Board and the NTC Criminal Court.
Legends Hospitality – Live Nation Strategic Partnership
Represented Legends Hospitality in a major strategic partnership with Live Nation to provide concession services at 34 of Live Nation's music venues in North America. The partnership represents one of the largest venue food and beverage contracts in history.
$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.
Legends Hospitality – Technology Investment
Represented Legends Hospitality in an investment in VenueNext, a technology company that provides smartphone-based software that gathers fan metrics and analytics at stadiums, arenas and other large scale entertainment venues.
New Jersey Hotel Acquisition
Represented Three Wall Capital in the purchase of the ground lease interest in a hotel and restaurant in Secaucus, New Jersey, as well as the related financing and the negotiation of new hotel franchise license and management agreements.
Manhattan Courtyard Marriott Refinancing
Represented an affiliate of Traders Co. in the refinancing of a 273-room Courtyard Marriott from ING Life Insurance and Annuity Company.
Manhattan Building Acquisition and Hotel Development
Representation of FIT Investment Corporation in connection with the zoning analysis and acquisition of 45 East 33rd Street in New York City, and its redevelopment of the building into a 93,000 square-foot hotel.
NFL Player’s Hollywood Restaurant Joint Venture
Represented SFF Investments LLC, which is wholly owned by a current All-Pro NFL player, in a joint venture to create a Rolling Stone-branded restaurant and bar in Hollywood, CA.
Real Estate Developer – Hotel Management Agreements
Representation of a developer in negotiating hotel management agreements with respect to two properties on Fifth Avenue in Manhattan.
Legends Hospitality – New Technology Investment
Represented Legends Hospitality in a proposed investment in software that consolidates sports franchise data.
Hospitality Group – Building Violation Hearings
Represented a hospitality client in building violation hearings before the Environmental Control Board, a division of the New York City Office of Administrative Trial and Hearings.
Joint Venture Formation of Legends Hospitality
Represented Legends Hospitality LLC—a joint venture among the Yankees, Dallas Cowboys and two private equity firms—in setting up business operations (which include running concession services at stadiums, arenas and other large venues), obtaining necessary permits and authorizations in New York, New Jersey, Pennsylvania, Texas and Florida, and protecting the company's intellectual property rights.
Small Hotel Owners Association – Regulatory and Legislative Advice
Representation of the Small Hotel Owners Association in its dealing with the New York City government. We counsel the association and its members on how to respond to the city's efforts to regulate the industry. We negotiate legislation and zoning changes and advance the industry's interests before the relevant city agencies and elected officials.
Legends Hospitality Management, LLC – Senior Secured Credit Facility
Representation of Legends Hospitality, LLC and Legends Premium Sales, LLC in connection with their senior secured credit facility consisting of a term loan and a revolving credit facility with a letter of credit and swing line subfacilities. Legends Hospitality provides sports and entertainment venues with food, beverage, merchandise and other hospitality services.
$104 Million Union Square Hotel Acquisition
Representation of Hersha Hospitality Trust in connection with its $104 million purchase of the Hyatt Union Square Hotel.
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.
Utah St. Regis Hotel Refinancing
Represented an affiliate controlled by real estate developer David Reis in the refinancing of the St. Regis resort in Deer Valley, Utah.
New Orleans Hotel Acquisition
Representation of a hospitality enterprise in the acquisition of a hotel in New Orleans.
$57.5 Million New Jersey Hotel Financings
Represented a prominent real estate and investment management firm on two senior mortgage loan financings aggregating $57.5 million, and secured by full service hotels in East Rutherford and Edison, New Jersey, including issues attendant to implementation of a multi-million dollar property improvement plan.
Legends Hospitality – One World Trade Center Observatory
Represented Legends Hospitality in the development and operation of the observation deck at the top of One World Trade Center.