Rechler Equity Partners – $120 Million Refinancing – Westhampton, NY
Represented Rechler Equity Partners in a $120 million refinance of a 50-acre business park in the Westhampton, NY that includes a last-mile distribution warehouse leased by Amazon.
Matters
KPR Centers – $180 Million Multi-State Retail Portfolio
Represented KPR Centers in connection with acquiring a $180 million multi-state portfolio of eight shopping centers through a joint venture structure. The portfolio includes retail centers in Florida, Wisconsin and Missouri, comprising more than 1.5 million square feet of space. Cumulatively 96 percent leased at the time of the acquisition, the portfolio is a combination of grocery-anchored and power centers.
Rechler Equity Partners – Amazon Fulfillment Center
Represented Rechler Equity Partners in the leasing, financing and development of a distribution facility for Amazon in Suffolk County, New York.
Sale of 360 North Rodeo Drive – Beverly Hills, California
Represented the Harkham Family in the sale of their hotel property at 360 Rodeo Drive in Beverly Hills, California to LVMH. The 42,560-square-foot property also includes three high-end retail storefronts leased to Rolex, Patek Philppe and Ferrari. The sale, at around $2.3 million per room, is one of the largest ever in terms of a per key price in California.
NYC Developer – Ground Leasehold Sale to Brookfield
Represented a prominent developer in the sale to Brookfield Asset Management of a ground leasehold interest in 55 Bay Street, Brooklyn, NY, which is a distribution facility that our client developed and leased to Amazon.
Not-for-Profit Religious Entity – Commercial Condo Acquisition
Represented a not-for-profit religious entity in the acquisition of a commercial condominium unit on West 83rd Street.
FBE Limited – Brooklyn Acquisition, Including Marina
Represented FBE Limited in connection with the acquisition of waterfront property including a marina located in Brooklyn, New York for $57.5 million and with the related financing.
Cammeby’s International Group – Park Avenue Refinancing
Represented Cammeby’s International Group in the more than $100 million refinancing of a mixed-use multifamily building on Park Avenue in Manhattan.
Prominent NYC Developer – Brooklyn Warehouse Sale to Prologis
Represented a prominent developer in the acquisition, financing negotiations and ultimate $60 million sale of the purchase contract for a two-acre warehouse site at 150 East 52nd Street in Brooklyn, NY to the mammoth warehouse landlord, Prologis.
FBE Limited and Adam America Real Estate – $54 Million Manhattan Sale
Herrick represented FBE Limited and Adam America Real Estate in the sale of 4650 Broadway in Manhattan to an affiliate of the Arden Group for $54 million after previously representing FBE/AARE in a joint venture acquiring this site in 2018. The site is eligible for Brownfield Tax Credits and is located in an opportunity zone on the border of Inwood and Washington Heights.
Somerset Partners Affiliate – Bronx Industrial Site Acquisition and Financing
Represented an affiliate of Somerset Partners in the $7.5 million acquisition and financing of 9 Bruckner Boulevard in the South Bronx. The industrial site, which is situated opposite of Somerset’s planned residential development project along the waterfront, will be converted into a 30,000-sq.-ft. Bruckner Market food hall.
FBE Limited and Treetop Development Affiliate – Bronx Refinancing and JV Restructuring
Herrick represented an affiliate of FBE Limited and Treetop Development in the restructuring of the ownership and refinancing of a building located at 1600 Sedgwick Avenue in the Bronx.
Shorenstein Properties – Nashville, TN
Represented Shorenstein Properties in connection with its purchase of a 28-story office building containing over 600,000 rentable square feet in Nashville, TN. The purchase represents Shorenstein’s first acquisition in the Nashville market.
Risland U.S. Holdings – $502 Million Construction Loan
Represented a joint venture consisting of Risland U.S. Holdings, LLC (a U.S. subsidiary of a multi-billion dollar publicly traded international developer) and a group of local developers in a $502 million loan for the construction of a new 67-story condominium building in Long Island City. This transaction stands as the largest condo construction loan in Queens and the building, rising to 984 feet with 802 units, will be the tallest building in the borough.
Greenspan Family – Sale of Bronx Multifamily Portfolio
Represented the family of Abraham Greenspan in the sale of four multifamily properties with 250+ units in various neighborhoods in the Bronx, NY.
Rabina Properties – Amazon Fulfillment Center
Represented Rabina Properties in the financing and development of an 855,000-sq.-ft. fulfillment center for Amazon in North Haven, CT.
Beijing-Based Developer – $108 Million Construction Loan for Manhattan Gas Station Conversion
Represented the developer in a $108 million construction loan from Bank of the Ozarks for 615 10th Avenue — a former gas station to be converted to a seven-story, mixed-use property.
Fruchthandler Family – $26 Million Joint Venture for Inwood Property
Represented the Fruchthandler family in a $26 million joint venture acquisition of a mixed-use building in upper Manhattan.
Peckham Industries – $12.5 Million Asphalt Plant Purchase
Represented Peckham Industries in the purchase of a Canal Asphalt Inc. plant located in Mt. Vernon, New York. The $12.5 million sale was the result of a bankruptcy auction in early 2016.
Edison Properties Affiliate – 620 12th Avenue Acquisition
Represented an affiliate of Edison Properties in the purchase of 620 12th Avenue.
Beijing Developer – Manhattan Development Site Acquisition
Represented a Beijing-based developer in the acquisition and financing of a gas station on Manhattan's west side. The developer intends to create a mixed-use building that will include residential condominiums and ground floor retail space.
Otera Capital Investments – Special Zoning Counsel
Special counsel to Otera Capital Investments IX Inc. in zoning and title matters related to $147.7 million in loans to HFZ Capital Group, for an assemblage of several parcels in the NoMad neighborhood of Manhattan where HFZ is planning a 60-story office tower.
Private Client – Long Island Vineyard Acquisition
Represented a client in the acquisition of a residence and 33-acre operating vineyard in Long Island's North Fork area.
Real Estate Owner/Investor – $320 Million Woolworth Building Refinancing
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.