Matters

DH Property Holdings – Financing for Brookyln Distrubution Center

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

The New York Islanders – Belmont Park

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

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.

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. 

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.

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.

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.  

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.

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.

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.

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.

Extell – $360 Million Manhattan Portfolio Purchase

Represented Extell Development Company in the $360 million purchase, flip and financing of multiple properties from the Duell family's real estate portfolio.

DH Property Holdings and FBE Limited Affiliates – $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.

DH Property Holdings Affiliate – Brooklyn Industrial Property Acquisition

Represented an affiliate of DH Property Holdings in the acquisition of an industrial development site on Columbia Street in Red Hook, Brooklyn.

Schron Family – $252 Million Manhattan Multifamily Acquisition

Represented the Schron family in connection with the $252 million acquisition of the Monterey, a 521-unit multifamily property located at 175 East 96th Street.

R Squared – Refinancing of Two Industrial Portfolios on Long Island

Represented R Squared in connection with refinancing of two industrial property portfolios consisting of 13 warehouse and industrial buildings in Suffolk County, New York.

Port Authority of New York and New Jersey – World Trade Center Land Use Counsel

Land use counsel to the Port Authority of New York and New Jersey in the development of the new World Trade Center complex.

Cipriani – 30 Rockefeller Plaza Restaurant Lease

Represented the Cipriani family in their lease of the world famous Rainbow Room at 30 Rockefeller Center.

Risland U.S. Holdings – $502 Million Construction Loan

Represented a joint venture consisting of Risland U.S. Holdings, LLC (a U.S. subsidiary of a multi-billion dollar publicly traded international developer) and a group of local developers in a $502 million loan for the construction of a new 67-story condominium building in Long Island City. This transaction stands as the largest condo construction loan in Queens and the building, rising to 984 feet with 802 units, will be the tallest building in the borough.

Polo Ralph Lauren – Office and Showroom Lease

Represented Polo Ralph Lauren Corporation in a 50,000 square-foot Manhattan office and showroom lease.

LVMH Moët Hennessy Louis Vuitton​ – New York Counsel

Counsel to LVMH Moët Hennessy Louis Vuitton and the company's luxury brands in all New York real estate transactions.

Rechler Equity Partners – Gabreski Airport Lease and Site Development

Represented Rechler Equity Partners on all aspects of their 40-year renewable ground lease to redevelop Suffolk County’s 55-acre Gabreski Airport.

R Squared – Refinancing on Industrial Properties, Long Island, NY

Represented R Squared LLC in a mortgage loan from Dime Community Bank. The proceeds of the loan were used to refinance leasehold mortgage loans on two industrial properties located at 200 and 220 Roger’s Way in Westhampton Beach, NY. 

Migdal Insurance Company Ltd. – Manhattan Office Building Investment

Represented affiliates of Migdal Insurance Company Ltd. in the negotiation of joint venture arrangements with affiliates of Vanbarton Group and Ohio Public Employee Retirement System in connection with a REIT investment resulting in the purchase of a 34% indirect ownership interest in a 780,000 square foot office building located at 425 Lexington Avenue in Manhattan.

Migdal Insurance Company Ltd. – Multi-State Joint Venture Acquisition

Represented affiliates of Migdal Insurance Company Ltd. in the negotiation of a joint venture arrangement with affiliates of Rialto Capital Management, Elite Street Capital and Menora Mivtachim Insurance in connection with the purchase of an indirect ownership interest in a portfolio of multi-family properties in Maryland, Texas and Missouri.

Community Preservation Corporation – Domino Sugar Factory

Represented an affiliate of the Community Preservation Corporation in the development of the 11.5-acre waterfront complex in Williamsburg, Brooklyn, that was formerly home to Domino Sugar. We advised on the site's rezoning, which resulted in one of the largest residential redevelopment projects in the city. We collaborated with Mayor Bloomberg's office, community leaders, and city and state departments and agencies on the design and development, and obtained approvals from the New York City Landmarks Preservation Commission, the New York City Planning Commission, the New York State Office of Parks, Recreation, and Historic Preservation, the New York State Department of Environmental Conservation, and the U.S. Army Corps of Engineers.

Deutsche Bank – Manhattan Zoning Due Diligence

Represented Deutsche Bank in zoning due diligence for the redevelopment of 150 Rivington Street, the former site of Streit's Matzo Factory.

Vanbarton Group – $450 Million Sale of 180 Water Street

Represented Vanbarton Group in the $450 million sale of its remaining interest in 180 Water Street to MetroLoft Management. The sale was the second largest New York City real estate transaction in 2017, according to data from The Real Deal.

MetLife Stadium – $650 Million Bond Placement

Represented a special purpose entity affiliate of the National Football League's New York Jets and the New York Giants, in a complex public financing for MetLife Stadium that involved the New Jersey Economic Development Authority and local government.

BFC Partners – City Council Approval – Bedford Armory Redevelopment

Successfully helped BFC Partners obtain New York City Council approval to redevelop the Bedford Union Armory in Crown Heights, Brooklyn, into a 500,000-square-foot, mixed-use property with a recreational facility, community venue and office and commercial space.

F&T Land Group – Tangram Development, Flushing, Queens

Represented F&T Group in the financing, development, construction of the Tangram development, an approximately 1.2 million square foot mixed use project Flushing, Queens. Herrick assisted in the $230 million inventory loan filing as well as in the filing of a condominium offering plan for a 48-unit office building at 37-12 Prince Street and a 192-unit residential building at 133-27 39th Avenue in Flushing, Queens.

Real Estate Family – $500 Million Business Divorce

Represent a member of a prominent real estate family in a business divorce and estate mediation which involved the partition of approximately $500 million in real estate assets previously held by the family-owned business.

The Lightstone Group – $330 Million Manhattan Ground Lease Sale

Represented The Lightstone Group in the combined $330 million sale of a ground lease position owned by Abraham Kamber & Company LLC and a subleasehold estate owned by Lightstone at 1407 Broadway.

Bank Leumi – $90 Million Construction Loan

Represented Bank Leumi USA in a $90M construction loan to a subsidiary of ASRR Capital Ltd., a publicly-traded Israeli company, for the development of a 12-story luxury condominium tower in Surfside, Florida.

Centennial Bank – Construction Loan – Denver, Colorado

Represented Centennial Bank in a $62 million construction loan to be used for the development of approximately 141,500 square feet in retail space, 59,700 square feet in commercial space and a 716-space above-ground parking structure located in Denver, Colorado.