Matters

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.

Maxx Properties – Mamaroneck, NY Mixed-Use Project

Represented a group led by MAXX Properties in the joint venture, acquisition and construction financing of the company’s first development project, a mixed-use residential and retail property located in Mamaroneck, NY.

Centennial Bank – $70 Million Manhattan Construction Loan

Represented Centennial Bank in a $70 million construction loan to 560 Seventh Avenue Owner LLC. The loan, documented as an acquisition, building and project loan, was secured by a three unit condominium located in Times Square.

MAXX Properties – $116 Million Colorado Multifamily Portfolio Refinancing

Represented affiliates of MAXX Properties in their $116 million refinancing of a portfolio of six multifamily properties located in Colorado. The refinancing was insured by the U.S. Department of Housing and Urban Development.

Community Preservation Corporation – Affordable Housing Project Acquisition

Represented an affiliate of Community Preservation Corporation in its acquisition of an affordable housing project located in Brooklyn, New York. The acquisition was the culmination of a 1031 transaction, and included a TIC structure, regulatory agreement, nominee and assumption of two tiered existing debt.

Ascend Charter Schools – Brooklyn Construction Loan

Represented Ascend Charter Schools on a construction loan for the renovation of its facilities at 1501 Pitkin Avenue in Brooklyn.

Charter School Mortgages and Lease Amendments

Represented affiliates of Ascend Learning on three leasehold mortgages for its Brooklyn facilities, and the amendment of a lease for two of its other Brooklyn facilities.

$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.

Brooklyn Mortgage Loan

Represented Bank Hapoalim in a mortgage loan to an affiliate of Hidrock Realty, made in connection with Hidrock’s acquisition of 32 Fifth Avenue in Brooklyn.

$32 Million Yorkville Multifamily Acquisition

Represented The Lightstone Group in the $32.5 million acquisition of a multifamily building at 40 East End Avenue.

$151.5 Million Ten-Property Portfolio Acquisition

Represented affiliates of DH Property Holdings and FBE Limited LLC in the $151.5 million acquisition of a ten-property multifamily and office property portfolio from affiliates of the Braun Family, and the flip of parts of the portfolio to other investors.