Matters

City Council Approvals for 395 Flatbush Avenue Ext – Brooklyn, NY

Obtained City Council approvals for Rabina on complex land use and zoning work for their project at 395 Flatbush Avenue Extension in Downtown Brooklyn, NY. Their proposed skyscraper – a one-million square foot, 72-story, mixed-use development with over 1,200 dwelling units and over 800-feet tall – will be the second tallest building in Brooklyn upon completion. Herrick worked to (i) rezone the City-owned property to the highest residential and commercial zoning districts permitted by zoning – this is the first property in Brooklyn to receive these zoning classifications; (ii) modify design and bulk restrictions in the Zoning Resolution that affected the property; and (iii) extend Rabina’s ground lease with the City by 99 years. 

NYCHA – Development Rights for Affordable Housing – Brooklyn, NY

Represented the New York City Housing Authority in connection with the sale of approximately 38,000 square feet of unused development rights to facilitate an affordable housing development on a neighboring property through zoning lot merger, along with a related light and air easement and a related neighboring property construction access license agreement.

Cooperative Apartment Building – Development Rights Transaction – Manhattan

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.    

Valley National Bank – Refinance & Construction Loans – Florida

Represented Valley National Bank in connection with the $28.6 million refinancing of a land loan secured by property located in Davie, Florida. Concurrently with the closing of the refinance, the sponsor, El-Ad Group, subdivided the property, and Valley extended a $85 million construction loan to finance the development of the first phase of the project. 

NYC Cooperative Apartment Building – Development Rights Transaction – Manhattan

Represented a New York City cooperative apartment building in connection with the sale of nearly twenty-five thousand 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 development of new construction.  

Soloviev Group – Land Use & Entitlements for Freedom Plaza for 2025 Downstate Casino Bid

Represented The Soloviev Group in the State Gaming Commission’s land use entitlement process for Freedom Plaza, a potential gaming facility, hotel and residential development on the East Side of Manhattan. Conceived by The Soloviev Group in a joint collaboration with Mohegan Gaming & Entertainment, plans called for two new residential skyscrapers rising 50 to 60 stories tall with 1,325 apartments, including 513 affordable housing units, as well as two 51-story hotel towers with 1,200 guest rooms. Additionally, a 4.7-acre landscaped waterfront public open space, a below-grade casino and a museum would have sat beneath the towers. Among the five Manhattan sites vying for a license, the Freedom Plaza was the final surviving application but was unfortunately ultimately turned down by the Gaming Commission's Community Advisory Committee.  

500 Kent – ULURP Approval – Brooklyn, NY

Represented 500 Kent LLC and United Jewish Organizations of Williamsburg, Inc. in their application for a zoning map amendment and two special permits to facilitate the development of a 23-story, 352-foot tall mixed-use office and retail building in South Williamsburg, Brooklyn adjacent to the Brooklyn Navy Yard. The Project would contain 598,000+ square feet of office space and 21,000+ square feet of retail space. It would also create approximately 49,453 square feet (1.14 acres) of publicly accessible waterfront open space, including a shore public walkway along the entire length of the site.

Joint Venture for Mixed Use Development – Manhattan

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.   

Valley National Bank – $252 Million Construction Loan – Brooklyn, NY

Represented Valley National Bank on a $252 million syndicated construction loan for a property located in Coney Island, Brooklyn. The planned development includes a three-tower complex with 499 luxury rental units, 38,276 square feet of street-level retail space and 21,500 square feet of community facility space. This complex deal also involved series mortgages, zoning challenges, an amended and restated condominium declaration and a 421-a tax component.

Valley National Bank – $140 Million Syndicated Construction Loan for Manhattan Luxury Condo

Represented Valley National Bank on a $140.4 million syndicated construction loan to a subsidiary of El Ad Group, a major international development company. The proposed 32 story project consists of 42 residential luxury condo units located in the Upper East Side. Herrick was also responsible for negotiating an intercreditor agreement with the B-piece lender as well as a recognition agreement with the preferred equity lender.

Halletts Point Astoria Rezoning

Represented a NYC developer in the Halletts Point rezoning and waterfront development plan in Astoria, Queens. We are proud to have been land use counsel for this remarkable and transformative project, which will include nearly one-million square feet of mixed-use floor area, approximately 335 units of affordable housing, and over one acre of publicly accessible open space. The development required the approval of several complex zoning actions (including a rezoning and waterfront access approvals), pursuant to the Uniform Land Use Review Procedure (ULURP). As a result of our efforts in guiding the project through ULURP, the project received recommendations for approval from Queens Community Board 1, Queens Borough President Donovan Richards, as well as near unanimous votes for approval from the New York City Planning Commission and the New York City Council. The project will transform the Halletts Point Peninsula, while simultaneously addressing the City’s affordable housing problem.

Property Markets Group – Gowanus Redevelopment, Brooklyn

Representing Property Markets Group (PMG) regarding New York City’s rezoning study for the Gowanus Canal area. Herrick successfully completed a year-long review process at the New York City Planning Department to "certify" the Gowanus Canal public access plan – include a 20,000 sq. ft. shorefront esplanade PMG's development site at Sackett and Bond Streets. We are thrilled that PMG is one of the first developers in the Gowanus to gain approval from City Planning following the November 2021 rezoning of the area. This critical milestone and approval will now allow PMG to proceed with a Building Permit to allow construction at their site – providing the team with enough time to complete construction and qualify for the now-expired 421-a program before the final June 2026 deadline. The Development is currently planned to include 500+ units of housing, including a significant permanently affordable housing component, ground floor retail, and a publicly-accessible esplanade and open space filled with recreational activities, art, and amenities along the Gowanus Canal.

“Penn South” Mutual Redevelopment Houses – Ground Lease

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.

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-sq.-ft. for planned community facility and office uses.

Domino Refinery Building – Special Permit Modification

Obtained approval from the City Planning Commission of a minor modification of a special permit in connection with the Domino Sugar Development on the Williamsburg waterfront. The City Planning approval, along with a previously granted Landmarks Preservation Commission approval, will allow for the historic facades of the Domino Refinery building to be preserved within a 14-story 195-foot tall dramatic glass barrel-vault.

Bank Leumi – $79 Million Manhattan Construction Loan

Represented Bank Leumi USA in a $79 million construction loan for development of the properties located at 224 and 238 West 124th Street, New York, which will be developed as an 18-story, “70/30” rental apartment building containing 168 units (51 of which are affordable). This deal involved unusual zoning subdivision issues as well as coordination with HPD and HUD on various deal components.

Rabsky Group – Commercial Floor Area Disposition Approved

Represented the Rabsky Group in obtaining authorization for New York City to sell approximately 100,000 square feet of commercial floor area to our client. The commercial space will be added to the 150,000 square feet of residential space already existing on our client’s property to facilitate the construction of our client’s proposed 25-story, approximately 250,000 square foot mixed-use development at 69 Adams Street in the DUMBO neighborhood of Brooklyn.

Slate Property Group – Zoning Analysis for Forest Hills Development

Represented Slate Property Group by providing a zoning analysis and zoning opinion letter for construction loan financing in connection with the development of a 166-unit, residential development located at In Forest Hills, New York.

69 Adams LLC – Zoning & Land Use Review

Represented 69 Adams LLC in the drafting and review of Restrictive Declarations and zoning lot merger documents opposite NYC’s Economic Development Corporation. Herrick also provided a zoning opinion letter for construction loan financing in the amount of approximately $150 million to allow for the development of a 26-story, approximately 250,000 square foot mixed-use development at 69 Adams Street in the DUMBO neighborhood of Brooklyn.

ASPCA – Zoning Resolution Determination

Herrick partnered with the ASPCA on a pro bono basis to enable them, under zoning, to provide overnight animal boarding their veterinary clinics. The Department of Buildings generally does not allow overnight animal boarding in areas not zoned for manufacturing use, and the ASPCA’s property is zoned for residential and commercial use. We drafted a zoning memorandum and a Zoning Resolution Determination (ZRD1) which outlined a legal strategy to allow for overnight animal boarding at clinics they operate in the five boroughs. 

Two Trees – Zoning for Additional Domino Sugar Development – Brooklyn, NY

Herrick partnered with Two Trees to obtain approval from the City Planning Commission for a modification of the Large-Scale General Development Special Permits and Restrictive Declaration for the Domino Sugar Development on the Williamsburg waterfront in Brooklyn, NY. The modified approval will allow for the addition of approximately 1,000 square feet of open space to Domino Square and a modified and design for one of the five buildings within the larger development. The new building will now contain more than 640K square feet of floor area and approximately 560 residential units. When fully built, the entire Domino Sugar Development will include approximately 2.75 million square feet of floor area and 4.8 acres of public open space.

Sale of Astoria Property – Newtown Avenue

Represented D-Ahn Development LLC on the sale of 25-23 Newtown Avenue in Astoria, Queens. The property is a development site that can accommodate future construction of a new residential building, and this transaction included a vehicular access agreement.