Matters

Manhattan Development Site Acquisition

Represented a Beijing-based developer in the acquisition and financing of a gas station on the west side -- one of the last remaining ground-up construction sites in Manhattan. The developer intends to create a mixed-use space that will include residential condominiums and ground floor retail space.

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. The transaction involved a $450 million syndicated mortgage loan and a $52 million mezzanine loan. This transaction stands as the largest condominium construction loan to have closed in Queens and the building, rising to 984 feet with 802 units, will be the tallest building in the borough.

Sale of Four Multi-family Properties in the Bronx

Represented the family of Abraham Greenspan in the sale of four multi-family 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 square-foot 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.

$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.

$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.

9 Bruckner Boulevard 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 will be converted into a 30,000 square-foot food hall, to be known as Bruckner Market.  The property is situated opposite of Somerset’s planned residential development project along the South Bronx waterfront.

Otera Capital Investments – Special Zoning Counsel

Herrick worked as special counsel to Otera Capital Investments IX Inc. for all zoning and title related matters involved multiple loans totaling $147.7 million to Ziel Feldman’s HFZ Capital Group for an assemblage of several parcels in the NoMad neighborhood where HFZ Capital is planning a 60-story office tower with approximately 600,000 square feet.

$38 Million Brooklyn Construction Loan

Represented 237 Duffield Street LLC in a $38 million construction loan made by Principal Life Insurance Company.

$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.