DH Property – Brooklyn Warehouse Sale to Prologis
Represented DH Property Holdings in the acquisition, financing negotiations and ultimate $60 million sale of the purchase contract for a two-acre warehouse site at 150 East 52nd Street in Brooklyn, NY to the mammoth warehouse landlord, Prologis.
Greystar – Acquisition of 800 Sixth Avenue
Represented Greystar in connection with the $237.5 million acquisition of a multi-family residential apartment building, 800 Sixth Avenue in Manhattan. This complex deal also entailed assignments of existing mortgages, a 421-a component, New York State Housing Finance Agency assignment approval and bond redemption.
The New York Islanders – Belmont Park
Representing the New York Islanders Hockey Club in the development of its new arena complex at Belmont Park.
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.
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.
NY Opportunity Zone – Structuring & Documentation
Represented the purchaser in the structuring and documentation of the acquisition of a New York development site in an Opportunity Zone transaction.
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.
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.
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.
Harel Insurance Co. – $100 Million Loan Acquisition
Represented Harel Insurance Company in the acquisition of a $100 million portion of a $200 million loan from major New York publicly-traded REIT.
Not-for-Profit Leasehold Condominium
Represented a national not-for-profit in the acquisition of a New York City full floor office leasehold condominium.
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.
$17.65 Million Apartment Acquisition by Chinese Investor – St. Petersburg, FL
Represented the U.S. real estate arm of a large global conglomerate headquartered in China on the approximately $17.65MM acquisition of an apartment complex in St. Petersburg, Florida, as well as related agency financing.
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.
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.
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.
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.
RXR Realty – $800 Million Acquisition of 237 Park Avenue
Represented RXR Realty in its joint venture acquisition of 237 Park Avenue, a 1.2 million-square-foot office building located in the heart of the Grand Central District, between 45th and 46th Streets.
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.
Harel Insurance – Acquisition in Nashville, Tennessee
Represented Harel Insurance Company in the acquisition of a fifty-percent interest in an $82 million construction facility for the ground up construction of a 420-unit rental property in Nashville, Tennessee.
Commercial Bank – $65 Million Houston, TX Acquisition Financing
Represented a commercial bank in a $65 million acquisition and capital improvement loan to finance the acquisition and improvement of 14 multi-family properties in Houston, Texas.
Mitsui Fudosan – $259 Million Hudson Yards Office Tower Investment
Represented Mitsui Fudosan America in land use diligence in advance of a $259 million investment in 55 Hudson Yards, Related Companies' 1.3 million square-foot, Hudson Yards office tower.
Sherwood Equities – $167 Million Hudson Yards Development Site Sale
Represented Sherwood Equities in the $167.3 million sale of a Hudson Yards Development Site to the McCourt Group, headed by former Los Angeles Dodgers owner Frank McCourt.
Sherwood Equities – High Line Acquisitions and Developments
Represented Sherwood Equities in connection with the acquisition of development sites at 508 West 20th Street and 360 Tenth Avenue, near the High Line Park. We also assisted Sherwood with the acquisition and sale of a significant amount of development rights; and the financing and development of the sites.
Community Preservation Corporation – $500+ million renovation of 16 Manhattan NYCHA Buildings
Represented the Community Preservation Corporation as the equity provider in the $500+ million renovation of 16 New York City Housing Authority buildings in Manhattan. NYCHA is partnering with the Community Preservation Corporation, Community Development Trust, Monadnock Development LLC, Lemor Development Group, Kalel Holdings LLC and the Community League of the Heights on the acquisition of a ground lease and massive renovation of 1,700 apartments. The upgrades come as part of the “NYCHA 2.0” initiative. This investment is in keeping with the Community Preservation Corporation’s mission of maintaining and providing affordable housing.
RAL Development – Union Square Tech Hub
Represented RAL Development Services on the redevelopment of 124 East 14th Street into a 21-story, 240,000 square-foot tech-focused office space. The building, which Mayor de Blasio called “the front door for tech in New York City,” is a joint venture between the city's Economic Development Corp. and our client RAL. Located on city-owned land, the $250 million project will offer affordable technology training for New Yorkers seeking to join the digital economy.
Deutsche Bank & Vanke – Zoning Due Diligence for The Vanderwater
Represented Deutsche Bank and Vanke in zoning due diligence for The Vanderwater, a new 32-story condominium building at 543 West 122nd Street located within the Jewish Theological Seminary’s Morningside Heights Campus in Upper Manhattan.
Joint Venture Acquisition of Development Rights
Represented a joint venture of prominent real estate companies in connection with the acquisition of unused development rights from a neighboring property through zoning lot merger, along with a related light and air easement and construction license. The development rights will facilitate the redevelopment of a significant Manhattan property.
Privately Held Real Estate Company – Acquisition of Inclusionary Air Rights
Represented a privately held real estate company as purchaser on an approximately $17.7 million acquisition of inclusionary air rights. The contract period was over three years, during which time the seller constructed the applicable affordable housing on the generating site.
NYC Cooperative Housing Corp. – Sale of Development Rights by Zoning Lot Merger
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.
Toll Brothers – Development Rights Acquisition
Represented an affiliate of Toll Brothers City Living in the acquisition of development rights from a site on First Avenue between East 52nd Street and East 53rd Street in Manhattan.
Bank Leumi – Manhattan Acquisition and Construction Loan
Represented Bank Leumi USA in connection with a $48 million acquisition loan and subsequent construction loan for a residential property at 306 East 86th Street in Manhattan.
Brack Capital Real Estate – Manhattan Condo Offering Plan
Represented Brack Capital Real Estate in the condo offering plan for 90 Morton Street as well as in the closing of multiple condo units for this West Village residential condo.
Joint Venture – $68 Million Woolworth Building Condo Conversion and Sale
Represented a joint venture between Cammeby's International and The Witkoff Group in the conversion of the iconic Woolworth Building's top 30 floors to a condominium unit, and the $68 million sale of the unit to Alchemy Properties.