Matters

$84 Million Bronx Apartment Building Acquisition and Financing

Represented FBE Limited LLC in the $84 million acquisition and financing of 1600 Sedgwick Avenue in the Bronx, a HUD-subsidized low income housing property.

$195 Million Long Island City Property Sale

Represented FBE Limited LLC in the $195 million sale of 24-02 49th Avenue, Long Island City, along with the defeasance of a REMIC mortgage that was encumbering the property, and the completion of a reverse 1031 exchange transaction.

$61.5 Million Sale to S.W. Management

Represented Extell Development Company in the $61.5 million sale of 134 West 58th Street in New York City to S.W. Management. 

$29 Million Sale of 116 7th Avenue

Represented Extell Development Company in the $29 million sale of 116 7th Avenue and 204 West 17th Street, New York, New York to 717 Subsidiary LLC.

$27 Million Manhattan Ground Lease Sale

Represented Extell Development company in the $27 million sale of a ground lease interest in 20 East 46th Street to Nightingale Properties, LLC.

$32 MIllion Manhattan Sale

Represented Extell Development company in the $32 million sale of 19-25 West 20th Street to The Kash Group. 

$161 Million Sale of 9-47 Hall Street, Brooklyn

Represented an entity owned by the Schron and Fruchthandler families in the $161 million sale of 9-47 Hall Street, an industrial/office building in Brooklyn. 

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.

$92 Million Acquisition of 1501 Lexington Avenue

Represented the Schron family in the $92 million acquisition of a multifamily building located at 1501 Lexington Avenue.

Acquisition of JV Interest in 1285 Avenue of the Americas

Represented the Schron and Fruchthandler families in the acquisition of a joint venture interest in 1285 Avenue of the Americas, which was purchased by RXR Realty in May 2016 for $1.65 billion.

$32 Million Yorkville Multifamily Acquisition

Represented The Lightstone Group in the $32.5 million acquisition of a multifamily building at 40 East End Avenue.

$320 Million Woolworth Building Refinancing

Represented the owner of the office condominium portion of the Woolworth Building, a joint venture between the Schron family and Steve Witkoff, in a $320 million refinancing from Blackstone.

$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.

$220 Million Chicago Office Tower Acquisition

Represented The World-Wide Group and Cammeby's International in the $220 million joint venture acquisition of a Class A tower in Chicago, Illinois.

Long Island City Development Financing

Represented The Lightstone Group in the permanent financing of its residential development in Long Island City.

$33 Million Red Hook Property Sale

Represented a subsidiary of real estate investor Rubin Schron and FBE Limited on the $33 million sale of several properties in Red Hook, Brooklyn to a foreign developer.

Bronx General Post Office Acquistion

Represented Youngwoo & Associates in the acquisition of the Bronx general post office building from the United States Postal Service. We also handled the permanent lease of a section of the building to the USPS so that they maintain a continued retail presence in the area, a loan agreement related to the Depression-era murals inside the building, and a joint venture agreement.

$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.

$30 Million Bronx Movie Theater Acquisition

Represented the Lightstone Group in the $30 million acquisition of the Whitestone Cinemas multiplex in the Bronx, New York. The sale was the second largest in the Bronx in 2012, according to data from Real Capital Analytics.

$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.

Art Gallery Condo Development

Represented Youngwoo & Associates LLC in developing a 16-story condominium in New York's West Chelsea neighborhood. The building is designed to be an art gallery, and our work included an air rights acquisition and construction loan financing.

Manhattan “Sky Garage” Condo Development

Represented Youngwoo & Associates LLC in developing a unique residential condominium building in New York's West Chelsea neighborhood, which features full-floor units with a parking facility for a car at each level. We advised on the land acquisition, construction financing and zoning issues.