Matters

DH Property Holdings – Financing for Brooklyn Distribution Center

Represented DH Property Holdings LLC in the construction loan and mezzanine loan financing for a distribution center in Brooklyn, New York.

William Macklowe Company – Park Slope, Brooklyn Acquisition

Represented the William Macklowe Company in the acquisition by it and Senlac Ridge Partners of a development property at 120 Fifth Avenue in Park Slope, Brooklyn. This complex deal closed on its original timeline even with the COVID-19 New York State on Pause limitations in effect.

Cammeby’s International Group – Park Avenue Refinancing

Represented Cammeby’s International Group in the more than $100 million refinancing of a mixed-use multifamily building on Park Avenue in Manhattan.

Chinatown Commercial Building Sale Post-Bankruptcy

Represented an affiliate of a New York City-based family office on the approximately $28.6MM 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.

The New York Islanders – Belmont Park

Representing the New York Islanders Hockey Club in the development of its new arena complex at Belmont Park.

Fleet Center – Zoning Approved for 14 Stories in Brooklyn

Represented Fleet Center, Inc. in obtaining approval of a zoning map amendment by the New York City Council to modify the decision by the City Planning Commission restoring our client’s proposed building to 14-stories with over 200,000 square feet for planned community facility and office uses.

Wells Fargo – Branch Lease at 545 Madison Avenue

Represented Wells Fargo Bank in a high profile bank branch lease at 545 Madison Avenue, a prime location in the Plaza District, and in the termination of their existing bank branch lease at 540 Madison Avenue.

New York State Pension Fund – $100 Million Mortgage Loan – Bergdorf-Goodman Building

Represented a New York State pension fund in a $100 million additional mortgage loan on the Bergdorf-Goodman Building, located at 754 Fifth Avenue in Manhattan.

Israeli Pension Fund Manager – Acquisition Administration of $58.6 Million Inventory Loan

Represented an Israeli pension fund manager in the acquisition and administration of $58.6 million inventory loan for a mixed used condominium in Harlem, New York. In addition to the administration of the loan, Herrick facilitated the closings for each of the condominium units.

MLA Properties – Retail Lease – Sanford, North Carolina

Represented MLA Properties in a retail lease to Spectrum Communications at The Shops at Cameron Place in Sanford, NC.

Senior Care Development – 53-story Retirement Community Sale, Chicago

Represented David Reis and Senior Care Development in the structuring and sale of The Clare, a 53-story 338-unit Continuing Care Retirement Community (CCRC) located in Chicago.

Rabina Properties – Development of New River Yacht Club, Fort Lauderdale

Represented Rabina Properties in the third phase of a large scale development of the New River Yacht Club project in downtown Fort Lauderdale, Florida. Phase three is slated to be a 230-unit Class A high-rise multifamily rental building being developed by Rabina Properties and the Related Group.

River Rock Associates – Mezz Construction Loan and Mortgage for Mixed Use Hotel, Restaurant, Residential – Queens, NY

Represented an affiliate of River Rock Associates LLC in connection with a mezzanine construction loan and second mortgage loan for the development of a mixed use hotel, restaurant, apartment and retail condominium located in Queens, New York.

Goldman Sachs – Zoning Due Diligence for Financing of Major Long Island University Redevelopment

Represented Goldman Sachs in the zoning due diligence for the $225.6 million financing of a major redevelopment at the Brooklyn campus of Long Island University. LIU plans to construct a residential high-rise containing roughly 30% affordable units, as well as a garage structure and a rooftop athletic field.

HK Organization – Empire Stores Redevelopment

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 square-feet of retail, restaurant and event space in addition to 300,000 square-feet of office space.

MRP Realty – 405 Park Avenue – Development Rights Transaction

Represented MRP Realty in connection with the acquisition of over 27K 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 expansion and renovation of 405 Park Avenue, a major office building in Manhattan.

Rabina Properties – 520 Fifth Avenue Development

Represented Rabina Properties in the acquisition, financing, joint venture, restructuring and recapitalization of the vacant development parcel located at 520 Fifth Avenue in Manhattan. The development is initially projected to include an 800-foot-tall tower on the corner of East 43rd Street and Fifth Avenue. 

New Market Tax Credits – Large Ohio Redevelopment

Represented a regional bank and their investment partner in financing the acquisition and redevelopment of an approximately 800,000-square-foot facility in Ohio to serve as a new distribution and products assembly center for a farm supply store which will breed new jobs and opportunity for the community and for which the bank will receive New Markets Tax Credits.

Historic & New Market Tax Credits – Redevelopment of Historic Building Philadelphia, PA

Represented a regional bank and their investment partner in financing the acquisition and redevelopment of a historic building in Philadelphia into a 254,000-square-foot public health campus which will serve the local community and for which the bank will receive New Markets Tax Credits. The project was also financed with Historic Tax Credits due to the nature of the building’s historical importance.

Not-for-Profit Religious Entity – Commercial Condo Acquisition

Represented a not-for-profit religious entity in the acquisition of a commercial condominium unit on West 83rd Street.

Centennial Bank – $120 Million Miami Construction Loan

Represented Centennial Bank in the $120 million construction loan for property located at 400 Biscayne Boulevard in Miami. The planned development includes a 49-story tower with 646 luxury rental apartments, 51,000 square feet of commercial space and a 22,000 square foot church for the First United Methodist Church of Miami.

Harbor Group International – $117 Million Brooklyn Acquisition

Represented an affiliate of Harbor Group International, LLC in the acquisition of a $117 million newly constructed 193-unit multifamily property known as The Frederick, located at 564 St. John’s Place in Crown Heights, Brooklyn.

Muss Development – $165 Million Manhattan Property Sale & Development Rights Transfer

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.

Kiska Developers – $104 Million Manhattan Sale with Development Rights

Represented Kiska Developers, Inc. in the $104 million sale of a development site on 56th street and Lexington Avenue to an entity controlled by Rotem Rosen. The development included ten lots, unused development rights purchased from a neighboring property and Inclusionary Housing Air Rights from an affordable development.

Artis Senior Living LLC – NYC Land Use and Zoning

Represent Artis Senior Living LLC, national long term care operators, on property review and zoning regulations related to potential development in New York City.

G4 Capital Partners – $71 Million Construction Loan in Brooklyn, NY

Represented an affiliate of G4 Capital Partners LLC in connection with a $71 million construction loan to be used for the construction of a mixed use building with more than 165,000 square feet of residential space, a community facility and parking spaces for a development at 2300 Cropsey Avenue, Brooklyn, NY.

Real Estate Investors – Formation of Real Estate Debt Fund

Represented real estate investors in the formation and launch of a real estate fund to originate, acquire and service high-yield loans collateralized by real estate or equity interests in real estate owning entities.

Leasehold Condos – New York City Charter Schools

Represented a New York real estate developer in connection with the formation of leasehold condominiums for multiple charter schools in various locations in NYC.

Hyatt Place Flushing – $32 Million Mortgage Loan

Represented a major New York City developer in connection with a $32 million mortgage loan for the Hyatt Place Flushing/LaGuardia Airport hotel.

NYLO Boutique Hotels – Financings & Operations

Represented the owners of NYLO boutique hotels in connection with financing, operations and addition to the Tapestry Collection by Hilton.

KABR Group – Canopy by Hilton Jersey City

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.

NYC Economic Development Corporation – Community Facility Condo – Brooklyn, NY

Represented the NYC Economic Development Corporation in the formation of a condominium at 20 Lafayette Avenue, Brooklyn, in order to facilitate the acquisition of a community facility unit with rights to a 16,000 square-foot outdoor plaza (known collectively as BAM South) to be used by various artist groups licensed by NYC.

Somerset Partners Affiliate – Bronx Industrial Site 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, which is situated opposite of Somerset’s planned residential development project along the waterfront, will be converted into a 30,000 square-foot Bruckner Market food hall.  

Acquisition & Financing of Multifamily Property – Gainsville, FL

Represented a developer in connection with the acquisition of multifamily property located in Gainesville, Florida and with the related financing.

Arch Real Estate Companies – North Carolina Acquisition

Represented Arch Real Estate Companies in connection with the $63 million acquisition and financing of the Cambridge Corporate Center in Charlotte, North Carolina.

Shorenstein Properties – Nashville, TN

Represented Shorenstein Properties in connection with its purchase of a 28-story office building containing over 600,000 rentable square feet in Nashville, TN.  The purchase represents Shorenstein’s first acquisition in the Nashville market. 

Hong Kong Asset Mgmt Co. – Foreign Investment in U.S. Real Estate

Represented a Hong Kong-based asset management company in an investment in a joint venture to develop commercial real estate in the United States.

U.S. Banking Institution – Sale of 77-Property, 15-State Real Estate Portfolio

Represented one of the largest U.S. banking institutions in the sale of a 77-property, 15-state real estate portfolio to a global investment management firm. The transaction also involved the leaseback of 22 properties.

Pro Football Hall of Fame Village – McKinley Grand Hotel

Represented the Hall of Fame Village in the acquisition of the McKinley Grand Hotel in Canton, Ohio. This is part of the efforts to modernize and update the entire Football Hall of Fame complex.

Emmes Asset Management – California Office Properties Acquisition

Represented Emmes Asset Management Company in the acquisition of a number of multi-million dollar class A office properties in San Diego, California, in a joint venture with the investment arm of a major university system.