Represented G4 Capital Partners in connection with the $130 million construction and mezzanine loans to affiliates of The Jay Group for the development of a residential building located at 101 Fleet Place in Brooklyn.
Represented a private lender in a $25 million loan for the development of a site in the Long Island City neighborhood of Queens, NY.
Represented G4 Capital Partners in connection with a $74.5 million construction and mezzanine loan for the development of property in Long Island City, New York for both residential and commercial use.
Represented CIT Bank, a division of First-Citizens Bank & Trust Company, on an $88 million construction loan secured by property located at 380 4th Avenue in Gowanus, Brooklyn.
Represented Kriss Capital LLC on a $37 million construction loan secured by property located at 4560 Broadway. The Herrick team also represented Kriss Capital in connection with the syndication of the loan with Valley National Bank and LibreMax.
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.
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.
