Matters

Centennial Bank – Loan to Extell Development for Deer Valley Ski Resort

Represented Centennial Bank in two complex acquisition loans to affiliates of Extell Development Company. Extell, which owned a 40-acre site in Deer Valley, Utah, acquired two parcels of land totaling 2,500+ acres for future development as a hotel/condominium/ski resort.

Citibank – $600 Million Financing to Durst Affiliates

Represented Citibank, as agent, in a $600 million term loan to certain affiliates of the Durst Organization secured by a blanket mortgage on six office buildings located in Manhattan. The term loan refinanced approximately $300 million of existing mortgage debt on three of the properties (including approximately $120 million outstanding to Citibank). The bank group also financed a $400 million revolving credit facility to the Durst Organization. The revolving credit facility is secured by pledges of economic and equity interests in the six mortgage borrowers and in two additional Durst affiliates, which affiliates own other office properties in Manhattan.

New York Lender – $10 Million Chelsea Construction Loan

Represented a New York-based alternative lender on the origination of a $10 million construction loan for real estate development in the Chelsea neighborhood of Manhattan.

G4 Capital Partners – $41 Million Brooklyn Condo Development Financing

Represented G4 Capital Partners in a $41 million financing for JDS Development Group’s condominium development at 613 Baltic Street in Park Slope, Brooklyn. 

G4 Capital Partners – $11 Million Brooklyn Condo Development Financing

Represented G4 Capital Partners in a $11 million financing for JDS Development Group’s condominium development at 71 North 7th St. in Williamsburg, Brooklyn.

$92 Million Acquisition of 1501 Lexington Avenue

Represented the Schron family in the $92 million acquisition of a multifamily building located at 1501 Lexington Avenue.

Essex Capital – Loan Secured by Ground Lease Interest

Represented Essex Capital in an $18.5 million loan made by The Union Labor Life Insurance Company. The loan is secured by a mortgage on borrower’s ground lease interest in a residential building located in Brooklyn.

L+M Development Partners – 25 Park Row Construction Financing

Represented L+M Development Partners in a $350+ million financing transaction for the construction and development of a 45-story mixed-use condominium building at 25 Park Row in lower Manhattan. The site is the former headquarters of J&R Music World.

Centennial Bank – Construction Loan – Denver, Colorado

Represented Centennial Bank in a $62 million construction loan to be used for the development of approximately 141,500 square feet in retail space, 59,700 square feet in commercial space and a 716-space above-ground parking structure located in Denver, Colorado.