Real Estate Development

Represented Mutual Redevelopment Houses, also known as Penn South, in the 99-year ground lease with MAG Partners. Penn South is a 10-building Mitchell-Lama housing cooperative in the Chelsea neighborhood of Manhattan that sprawls from West 23rd to West 29th streets, between Eighth and Ninth avenues. MAG Partners' new project at 335 Eighth Avenue will rise seven stories and host 188 units in the mixed-income apartment building, along with ground-floor commercial space.

Represented Extell Development Company in connection with a development ground lease from The Feil Organization as part of an assemblage of properties located on Fulton Street in Brooklyn, New York for a term of 199 years.

Represented Real Estate Equities Corporation in the $55 million contract to construct a 165,000-square-foot medical and life sciences building on Third Avenue and 121st Street in Manhattan with The Rinaldi Group.

Represented Community Preservation Corporation in connection with a joint venture with Xenolith Partners LLC, a certified minority- and women-owned business enterprise (M/WBE) company, and the construction financing to develop “The Rise” located at 1366 East New York Avenue, Brooklyn, New York. Under the Vital Brooklyn Initiative, “The Rise” will consist of 72 supportive and affordable housing units; approximately 7,000 square feet of community facility space; 3,000 square feet of administrative space for One Brooklyn Health System (OBHS); 5 parking spaces; and a 10,000+ square foot rooftop green space. Supportive services for building residents will be provided by Women's Prison Association and Home (WPA) and the Osborne Association, who will also offer services to eligible members of the community, including case management, job-readiness training and job placement, legal assistance and support groups for re-entry transition and the development of social and wellness skills.

Represented, and obtained City Planning Commission approval for, Charney Companies on complex land use and zoning work for their project at 95 Rockwell Place in Downtown Brooklyn, NY. Herrick helped our client obtain an authorization from the city that will allow them to increase the maximum buildable square footage on their property by 20% in return for making certain improvements to the nearby Nevins Street MTA subway station. Importantly, this is the first such authorization granted by the city that was not contingent on the applicant providing an elevator at the subway station. The authorization will facilitate the development of a 53-story approximately 170k square foot mixed-use building. 

Represented Zeta Charter Schools in connection with the negotiation of a lease for a to-be-built 72,000-sq.-ft. stand-alone building in the Bronx, which will be occupied by them as a pre-kindergarten through 2^nd grade charter school.

Represented Roseland Residential, a subsidiary of Mack-Cali Realty Corp., in connection with a $300 million construction loan for its 750-unit, 57-story residential development project in Jersey City, New Jersey.

Represented multiple clients in the structuring and formation of qualified opportunity funds in connection with Opportunity Zone transactions in the New York metro area and across the United States.

Represented the KABR Group in connection with its participation in the development of the Canopy by Hilton Jersey City in downtown Jersey City, New Jersey.

Represent Fotografiska, a Swedish photography destination, in connection with establishing its NYC flagship location at 281 Park Avenue South, New York.

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 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 Chinese-based developer in addressing condominium matters for sale of multiple buildings in phased development in Brooklyn, NY. 

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 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 RXR Realty in a complex joint venture with Louis R. Cappelli to purchase land and develop a mixed-use project in Stamford, CT known as Atlantic Station. Herrick also represented the joint venture in connection with an $80 million construction loan. The project will feature a 325-unit luxury rental residential tower and 17,000 square feet of retail space. A portion of the project includes a post office that is on the National Register of Historic Places, which will be restored and converted into a food hall.

Represented a group of investors in the development of an indoor sports facility in Westchester County, New York, which will be financed by municipal bonds.

Represented a joint venture between LargaVista Companies and Baron Property Group in connection with the development, acquisition, joint venture and $388.3 million construction financing of a mixed-use project located at 30-25 Queens Boulevard in Long Island City, New York. The financing consisted of a construction loan, senior mezzanine loan and junior mezzanine loan.

Represented Muss Development in its sale of two fee parcels and one development rights transfer as part of an assemblage on the Upper East Side that, along with the other five fee parcels and three development rights transfers involved, totaled over $165 million.

Represented Rabina Properties in the financing and development of an 855,000-sq.-ft. fulfillment center for Amazon in North Haven, CT.

Represented the HK Organization in a joint venture with Midtown Equities and Rockwood Capital to redevelop Brooklyn’s Empire Stores, a complex of seven historic warehouses. The property was transformed into a mixed-use creative hub with 100,000-sq.-ft. of retail, restaurant and event space in addition to 300,000-sq.-ft. of office space.

Represented Extell Development Company in completing an Upper West Side assemblage including the acquisition of 2551 Broadway and development rights from nearby co-op buildings on West 95th Street. 

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.

Represent a New York cooperative housing corporation on the sale of development rights by zoning lot merger.  The development rights will be used to facilitate the construction of a new condominium building.