Herrick represented FBE Limited and Adam America Real Estate in the sale of 4650 Broadway in Manhattan to an affiliate of the Arden Group for $54 million after previously representing FBE/AARE in a joint venture acquiring this site in 2018. The site is eligible for Brownfield Tax Credits and is located in an opportunity zone on the border of Inwood and Washington Heights.
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.
Represented Criterion Group in the purchase of two parcels just north of Queensboro Plaza between 22nd and 23rd streets for $79.95 million.
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.
Represented The Sabet Group in their purchase and development of 35 Crosby Street in Manhattan.
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.
Represented Greystar Real Estate Partners in the $211 million acquisition and mortgage financing of a 204-unit multifamily building in Manhattan's Chelsea neighborhood.
Represented RXR Realty in its joint venture acquisition of 237 Park Avenue, a 1.2-million-sq.-ft. office building located in the heart of the Grand Central District, between 45th and 46th Streets.
Represented Rabina Properties LLC in the $131 million sale of a development site consisting of six properties in Manhattan's NoMad neighborhood. The sale also included additional Inclusionary Housing benefits and an investment by our client in the acquiring entity.
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.
Represented a Beijing-based developer in the acquisition and financing of a gas station on Manhattan's west side. The developer intends to create a mixed-use building that will include residential condominiums and ground floor retail space.
Represented Vanbarton Group in the multi-million dollar acquisition of a portfolio of commercial properties located in New York and San Francisco.
Represented AEW Capital Management in the sale of its leasehold interest in 175 Varick Street to an affiliate of Tishman Speyer.
Represented The World-Wide Group and Cammeby's International in the $220 million joint venture acquisition of a Class A tower in Chicago, Illinois.
Represented Extell Development Company in the $66 million sale of an assemblage consisting of a fee parcel on East 29th Street in Manhattan, two air parcels, two certificates of eligibility for zoning floor area bonuses, and Extell’s interest in contracts for development rights from adjacent property owners.
Represented Extell Development Company in completing an Upper West Side assemblage including the acquisition of 2551 Broadway and development rights from nearby co-op buildings on West 95th Street.
Represented Extell Development Company in the $360 million purchase, flip and financing of multiple properties from the Duell family's real estate portfolio.
Represented a major Chinese real estate developer in its acquisition of a parcel of land in Flushing, Queens for $66 million. The developer plans to build a mixed-use condominium with ground and second-floor retail.
Represented a joint venture between two major real estate companies in its $380 million acquisition and financing of 52 apartment complexes in 14 states.
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.
Represented an affiliate of LargaVista Companies in the $18 million acquisition from Zand Development, LLC of 29-00 Queens Plaza East (at the corner of Northern Blvd. & Queens Blvd.), Long Island City, NYC. Our work included a 1031 Exchange, financing, and is part of LargaVista's assemblage for future residential development.
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 retail presence, a loan agreement related to the Depression-era murals inside the building, and a joint venture agreement.
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.
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.
Represented an investment trust advised by Clarion Partners in the $55 million sale of Durham, North Carolina's Palladian Corporate Center, to a fund managed by Innovatus Capital Partners.
Represented the family of Abraham Greenspan in the sale of four multifamily properties with 250+ units in various neighborhoods in the Bronx, NY.
Represented a principal of a joint venture in the venture’s acquisition, from another of its principals, of a resort condominium in Deer Valley, Utah. In connection with the acquisition and future development of the resort, the joint venture also obtained up to $212 million in construction financing.
Represented Continental Ventures in a joint venture transaction involving the acquisition, financing and development of a luxury mixed-use project on the Upper East Side of Manhattan.
Represented India-based Amity Education Group, a nonprofit international education group, in the $22.4 million purchase of the St. John’s University 170-acre waterfront campus located in Oakdale, Long Island.
Represented a national telecommunications service provider in the sale of two properties in East Williamsburg, Brooklyn.
Represented Emmes Asset Management Company in connection with a joint venture with the investment arm of a major university system and the $100 million acquisition of a prominent Class A office building in Irvine, California. The transaction also included a multi-million dollar investment by a Japanese corporation investing in U.S. property for the first time.
Represented the Board of Directors of 715-723 Sixth Avenue Owners Corp. to facilitate the sale of 66 apartments at the leasehold cooperative building located at 101 West 23rd Street in New York City.
Advised a consortium of four large financial services companies on the sale of 333,000-sq.-ft. of development rights in Manhattan's South Street Seaport to the Howard Hughes Corporation.
Represented MAXX Properties in the sale of their portfolio of multifamily properties located in Omaha, Nebraska, which included a securitized loan defeasance. The transaction is the front-end of a 1031 tax-deferred exchange. MAXX Properties has retained Herrick in connection with the acquisition of the replacement property.
Represented Yeshiva University in the $58 million sale of 20 cooperative apartments and 78 condominium apartments located at 13-15 East 11th Street to Alabama Apartments Investors, LLC, an affiliate of Pebb Capital.
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.
Represented Extell Development Company in the $75 million sale of 2505 Bruckner Boulevard in the Bronx to Innovo Property Group RE, LLC.
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-sq.-ft. Bruckner Market food hall.
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.
Represented an affiliate of Edison Properties in the purchase of 620 12th Avenue.
Represented an entity owned by the Schron and Fruchthandler families in the $161 million sale of 9-47 Hall Street, a warehouse building near Brooklyn's Navy Yard.
Represented the Schron family in the $92 million acquisition of a multifamily building located at 1501 Lexington Avenue.
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.
Represented a real estate developer in the $80 million sale of Manhattan's historic Otis Elevator Building to a major REIT, the negotiation of a long-term ground lease for the property, and related mortgage loan amendments.
Represented Rabina Properties in the $175 million purchase and financing of a 640,000-sq.-ft. office building in Charlotte, North Carolina's downtown business district.
Represented a client in the acquisition of a residence and 33-acre operating vineyard in Long Island's North Fork area.
Represented a joint venture between two major real estate companies in its $315 million acquisition and financing of a 43-property portfolio of office and commercial buildings in Long Island, New York.
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.
Represented a joint venture between two major real estate companies in its $161.5 million acquisition and financing of two Long Island, New York office buildings.
Represented the KRE Group in the assemblage of a development site including 281 Fifth Avenue, and the sale of the assemblage to Victor Nomad LLC. The deal included an adjacent air parcel with additional development rights and inclusionary housing certificates.
