Bank Leumi – Mortgage Financing

Represented Bank Leumi in its $210 million mortgage financing to a joint venture between Israel-based IDB Holding Corp. and Midtown Holdings, for the purchase of the HSBC Tower located at 452 Fifth Avenue. Completed in April 2010, the financing was part of a $350 million sale-leaseback transaction with HSBC Bank USA. This transaction was notable, in that it was the first major non-distressed office building sale in Manhattan in more than two years.