Represented a New York City cooperative apartment building in connection with the sale of nearly twenty-five thousand square feet of unused development rights from a neighboring property through zoning lot merger, along with a related light and air easement. The development rights will facilitate the development of new construction.
Represented a private lender in a $52 million construction loan for the building of a condominium tower in the Midtown East neighborhood of Manhattan.
Represented a private lender in a $30 million construction takeout financing for a Brooklyn multifamily development in the Midwood neighborhood of Brooklyn, NY.
Represented a private lender in connection with a sale of commercial property in Great Neck, New York, as well as the provision of mortgage financing to the new purchaser.
Represented a private lender in a condominium inventory loan in the Kips Bay neighborhood of Manhattan.
Represented a private lender in a construction loan to facilitate the development of a new condominium building in the Astoria neighborhood of Queens, NY.
Represented a New York City cooperative apartment building in connection with the sale of nearly 18K square feet of unused development rights from a neighboring property through zoning lot merger, along with a related light and air easement and a related neighboring property construction access license agreement.
Represented a full-service bank (as lender) in a note on note loan to a family office. The collateral asset was a mortgage loan on an apartment complex in Alabama.
Represented a New York City cooperative apartment building in connection with the sale of over 50K-sq.-ft. of unused development rights to a neighboring property through zoning lot merger, along with a related light and air easement.The development rights will facilitate the redevelopment of the former ABC Studios buildings in the UWS block bounded by Columbus Avenue, Central Park West, West 66th Street and West 67th Street.
Represented a private lender in an acquisition loan for more than $19 million secured by a site located in Orlando, Florida.
Represented a private lender in an acquisition loan secured by a multi-tenant industrial property located in the Hialeah neighborhood of Miami, FL.
Represented a private lender in an acquisition loan secured by an industrial warehouse property located in Everett, Washington.
Represented a private lender in a $24+ million acquisition loan secured by a development assemblage located in the Murray Hill neighborhood of New York, NY.
Represented a prominent real estate development company in connection with the acquisition of a development site in the Midtown East neighborhood of Manhattan, along with related unused development rights from a neighboring property through zoning lot merger. This representation has included, among other aspects, representing the client in the formation of joint venture with a real estate development and financing company, and construction license agreements with neighboring properties.
Represented a private lender on a construction loan for the demolition of a motel and construction of 121 apartments on the property located in Fife, Washington.
Represented a leading global investment firm on the sale of a shopping center located in Conroe, Texas for $44.5 million.
Represented a major university in connection with the sale of two adjacent townhouses in the West Village neighborhood of Manhattan for over $33 million.
Represented a private lender in an acquisition loan secured by an industrial building located in Lanham, Maryland, west of Washington D.C.
Represented a leading global investment firm on the $36.3 million sale of an office building complex located in Costa Mesa, California.
Represented Brooklyn Defenders Service in a leasehold condominium for a 31-year, 212,000-square-foot office lease across six full floors of in Downtown Brooklyn. The organization, which provides no-cost public defense in legal proceedings, will consolidate from multiple locations throughout the borough to this one Brooklyn location.
Herrick represented MAG Partners in connection with a multi-faceted transaction with MacFarlane Partners, Sagamore Ventures and investment partner Goldman Sachs for the development of a megaproject in South Baltimore’s Port Covington. The $5.5 billion development project spans 235 acres along Cromwell Street; includes up to 14 million square feet of shops, restaurants, office space and housing; and 40 acres of parks across 45 new city blocks. The transaction involved several joint venture agreements, development services agreements, employment agreements and other documentation. MAG and MacFarlane are taking the reins from Weller Development Co. for leasing, marketing and "placemaking" campaigns for the current $500 million, 1.1 million-square-foot phase, and will lead all future development outside that initial phase.
Represented a major university as the tenant in connection with a lease of approximately 50,000 rentable square-feet of space within an office building in Manhattan. The lease also provides the university with a right of first offer with respect to another 50,000 rentable square-feet of space.
Represented a private lender in a $60.5 million condominium inventory loan in Long Island City, Queens.
Represented a private lender in a condominium inventory loan in the Gramercy neighborhood of Manhattan.
Represented a university in connection with a nearly $100 million acquisition of a commercial building in Manhattan.
Represented a private lender in an acquisition loan with respect to an industrial outdoor storage facility in Cinnaminson, New Jersey.
Represented a developer, owner and operator of residential and commercial real estate in New York and Texas, in connection with the $21 million sale of a development site in the Astoria, Queens.
Represented a major university in connection with a nearly $70 million acquisition of a dormitory building in Manhattan.
Represented a church on the Upper West Side of Manhattan in connection with the extension and amendment of a nearly 16,000-square-foot lease to an early childhood school. The representation included receiving approval from the Charities Bureau of the State Attorney General.
Represented a private lender in a $51 million condominium inventory loan in New York City’s Financial District.
Represented a university as landlord in connection with the extension and amendment of a lease to a national chain of neighborhood grocery stores, with respect to property located in Manhattan.
Represented a major university as subtenant in connection with a sublease of a dormitory building in Manhattan.
Represented a joint venture comprised of a prominent real estate development company and a global holding company, as borrower, in connection with a construction loan to facilitate the development of a 7-story mixed-use building in the Chelsea neighborhood of Manhattan.
Successfully represented a church in extinguishing an unsatisfied mortgage recorded against the church’s property, thus giving the church clean title.
Represented a joint venture comprised of a prominent real estate development company and a global holding company in connection with the development of a 23-story mixed-use building in the Midtown East neighborhood of Manhattan. This representation has included, among other aspects, representing the joint venture as borrower in connection with a $95 million construction loan, as well as representing the joint venture in connection with the initial acquisition and financing of the development site and related unused development rights from a neighboring property through zoning lot merger.
Represented a privately owned investment company on the sale of property located in Bronx, New York comprising a development site, as well as unused development rights pursuant to a zoning lot development agreement recorded against neighboring property.
Represented an affiliate of MAXX Properties in the $35 million acquisition and bank financing of a Scottsdale, AZ multifamily property known as 92Forty. The acquisition was the replacement property for a 1031 Exchange.
Represented a private lender on an $18.5 million loan in Montauk, New York (the easternmost end of Long Island). The property is an expansive waterfront property with sunset views over Lake Montauk, which the borrower plans to redevelop into a condominium complex with a marina, spa, fitness center, pool, restaurant and event space.
Represented Cantor Fitzgerald Securities as the administrative agent and collateral agent under an $85 million exit facility following the successful Blackhawk Mining, LLC, et al. (Bankr. D. Del.), chapter 11 cases, which involved over 100 properties, encompassing active mining complexes in West Virginia and Kentucky and substantial metallurgical and thermal coal reserves in West Virginia, Kentucky, Indiana, Illinois and Ohio. The finance component included establishing a collateral trust arrangement by transferring all of the collateral, loans and obligations to a collateral trust and amending and restating the existing loan documents. The real estate component included assigning existing mortgages encumbering the properties, amending and restating the existing mortgages and memoranda of intercreditor agreements to secure Cantor’s interest as collateral trustee, preparing as-extracted collateral filings, reviewing specific requirements related to leasehold properties, and title review.The real estate component included terminating existing mortgages encumbering the properties, preparing new mortgages to secure Cantor’s interest, preparing as-extracted collateral filings, reviewing specific requirements related to leasehold properties and title review. Herrick previously represented Cantor Fitzgerald as the administrative agent and the collateral agent under Blackhawk’s (i) pre-petition $660 million first lien term loan facility and (ii) $150 million DIP term loan facility in connection with the pre-packaged restructuring of approximately $1.1 billion of debt, which involved assigning the previous administrative agent’s interest in all of Blackhawk’s properties in West Virginia, Kentucky, Indiana, Illinois and Ohio to Cantor Fitzgerald, as administrative agent.
Represented N.E.W. Corp. in the sale of the fee title for 116 10th Avenue, as well as the unused development rights for 453 W 17th Street in Manhattan to GDS Development and Swedish real estate firm Klövern AB. The deal for the development rights for 453 W 17th Street had been in progress for several years and following the onset of the COVID-19 pandemic in the spring of 2020, and the consequent shutdown of the seller’s nightclub tenant (Avenue Nightclub) at 116 10th Avenue, the parties were able to restructure and expand the deal to include also the fee title to 116 10th Avenue.
Represented a private lender on a $20 million condominium inventory loan in the Tribeca neighborhood of Manhattan.
Represented a private lender on a $5 million loan in the Harlem neighborhood of Manhattan. The property is a development site.
Represented an affiliate of a New York City-based family office on the approximately $28.6 million sale of a largely vacant commercial building in the Chinatown neighborhood of Manhattan. The sale was following a bankruptcy court order, in a Chapter 11, single-asset bankruptcy case.
Represented a private lender on a $20 million refinancing secured by a newly-constructed self-storage facility located in Staten Island, New York.
Represented an affiliate of MAXX Properties in the sale of a three-property 371-unit value add multifamily portfolio located in Miami-Dade and Broward counties, Florida, for $82 million. The sale is the front-end of a 1031 Exchange.
Represented D-Ahn Development LLC on the sale of 25-23 Newtown Avenue in Astoria, Queens. The property is a development site that can accommodate future construction of a new residential building, and this transaction included a vehicular access agreement.
Represented G4 in connection with a $29.5 million acquisition and pre-development loan for the development of property located in Brooklyn, New York for both residential and commercial use.
Represented a private lender on a $40 million refinancing secured by industrial property in the Red Hook neighborhood of Brooklyn.
Represented an affiliate of long-time client MAXX Properties in the acquisition and $55 million life insurance company financing of a 261-unit luxury apartment community in Sandy, Utah known as The Ridge. The acquisition was the replacement property for a 1031 Exchange.
Represented owners of a high-end retail clothing company in the successful transfer of the assets and brand to a competitor.
