Matters

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.

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.

$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.

$90 Million Bank Leumi Construction Loan

Represented Bank Leumi USA in a $90M construction loan to a subsidiary of ASRR Capital Ltd., a publicly-traded Israeli company, for the development of a 12-story luxury condominium tower in Surfside, Florida.

$110 Million New Yorker Hotel Financing

Represented HSA-UWC and New Yorker Hotel Management Co. Inc. in a $110 million financing for 481 8th Avenue, a mixed-use project consisting of the iconic New Yorker Hotel, office and retail.

$105 Million Fort Lauderdale Construction Loan

Represented Rabina Properties in a joint venture with Related Group, on a $105 million construction loan from SunTrust Bank. A Perella Weinberg Partners fund, which is also part of the joint venture, also provided equity to be used in connection with a residential development in the Las Olas section of Fort Lauderdale, Florida.

G4 Capital Partners – $11 Million Mortgage Loan

Represented G4 Capital Partners in an $11 million mortgage loan secured by properties in Manhattan and Queens, as well as zoning matters pertaining to tax lot subdivisions.

Bank Hapoalim – Mezzanine Loan

Represented Bank Hapoalim in connection with a mezzanine-like loan to two real estate LLCs, and an amendment and extension to an existing acquisition, construction and project loan.

Hylan Credit Facility

Represented a U.S. commercial bank, as lender, in a secured credit facility consisting of a term loan and a revolving loan to Hylan, a fiber optic data communications contractor, to finance a recapitalization resulting in the sale of 50% of the company to a private equity firm. The loans are secured by a first lien on all present and future assets of the borrower.

$90 Million Miami Construction Loan

Represented a major bank in a $90 million construction loan for a luxury residential development on Biscayne Boulevard in Miami.