Investment Bank – Acquisition and Sale of National Business Hotel Brand

Representation of a global investment bank in its acquisition—and subsequent sale—of a national business-class hotel brand.

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)

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.

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.

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.

Investment Bank Resort Financings

Represented an investment bank in the pre-development financing of resort hotel projects in Rancho Mirage California, Bermuda and Rose Island, Bahamas.

$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.

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 – Motion for Preliminary Injunction Denied

Herrick successfully defended the developers of a $320 million Brooklyn Bridge Park hotel and condominium project, winning a decision of particular significance to the New York real estate industry as it held that the four-month statute of limitations for challenging administrative determinations cannot be circumvented by couching a complaint as a declaratory judgment action. In a bid to halt the project’s construction, activists filed suit against our clients in New York state court, seeking both an injunction and a declaratory judgment from the court that the planned buildings exceeded height limitations specified in the governing documents for the project. The court denied the motions in their entirety, ruling that the development complied with the law, and further finding that the legal challenge was barred by the statute of limitations for bringing an Article 78 proceeding. A contrary ruling would have paved the way for legal challenges to be made long after government approvals have been obtained for a development project.

In addition to representing our clients on the plaintiffs’ appeal, Herrick is also representing the developers in a new suit filed by activists, now alleging that the project violates a “scenic view district” regulation. Here, we have defeated a motion for a temporary restraining order and are awaiting a ruling on the plaintiffs’ motion for a preliminary injunction. In the meantime, construction on the project continues.

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.

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.

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.

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.

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.

Ritz Carlton Resort Condominium Financings

Represented an investment bank in senior construction financings of resort condominium projects branded by Ritz Carlton in Maui, Hawaii, Rancho Mirage, Philadelphia, and the Turks & Caicos Islands.

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.

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.

International Lender – Arizona Resort

Representation of an international lender in the senior construction financing of a resort hotel in Tucson, Arizona, that also features a luxury residential community and PGA golf course.

Investment Bank – Hotel Sale

Representation of an investment bank in its sale of a five-star New York City Hotel to the Blackstone Group.

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.

Hospitality Group – Building Violations

Advise client on matters concerning building violations before the NYC Environmental Control Board and the NTC Criminal Court.

Legends Hospitality – New Technology Investment

Represented Legends Hospitality in a proposed investment in software that consolidates sports franchise data.

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.

Legends Hospitality – Concessions Operations

Represented Legends Hospitality in transactions involving the operation of all food and beverage concessions and premium catering at both Angel Stadium of Anaheim and Tempe Diablo Stadium.

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.