Rechler Equity Partners – Amazon Fulfillment Center
Represented Rechler Equity Partners in the leasing, financing and development of a distribution facility for Amazon in Suffolk County, New York.
Matters
William Macklowe Properties – Significant Brooklyn CVS Lease
Represented William Macklowe Properties in connection with a significant retail lease to CVS Pharmacy in a new ground-up development in Park Slope, Brooklyn.
William Macklowe Properties – Large Supermarket Lease for LIDL
Represented William Macklowe Properties in connection with a large supermarket lease to German retailer LIDL for their new ground-up development in Park Slope, Brooklyn.
“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.
Not-for-Profit Corporation – Manhattan Leasehold Condo
Represented a major not-for-profit and an affiliate of Anbang Insurance Company for a full floor lease of 717 Fifth Avenue for 31 years. The lease will be converted to a leasehold condominium.
Retailer – Leasing Dispute
Represented a children’s retailer in a suit brought by the Metropolitan Transit Authority (MTA) for back rent and future rent (with personal liability) of almost half a million dollars on its lease at Grand Central Terminal. The Herrick team negotiated a favorable settlement on behalf of the client.
Shefa School – Ground Lease and Bond Financing – Manhattan
Herrick represented the Shefa School in its 99-year ground lease of 17 West 60th Street in Manhattan’s Lincoln Square neighborhood. The Shefa School is a Jewish community day school serving students in grades 1 through 8 who benefit from a specialized educational environment to address language-based learning disabilities. Constructed in 1921, the 11-story building is adjacent to Columbus Circle. The school is undertaking a complete renovation of the building and will relocate its operations to the new facility upon completion. Herrick also represented the Shefa School in a tax-exempt and taxable bond financing through Build NYC Resource Corporation. The school is using proceeds from the financing to renovate, furnish and equip the property acquired through the ground lease.
Centennial Bank – $80 Million Construction Loan – Brooklyn, NY
Represented Centennial Bank in an $80 million construction loan for the ground-up development of the property located at 1100 Myrtle Avenue in Brooklyn, which will consist of an 11-story mixed use project with a ground floor supermarket and residential units.
The Promotion In Motion Companies – 98,000-Square-Foot Lease – New Jersey
Represented The Promotion In Motion Companies in a ten-year lease of approximately 98,000 square feet of office and warehouse space with a fitness center and a private lobby in Park Ridge, New Jersey. This work also included significant design and construction related lease negotiations for the initial improvement work, as well as the negotiation of design, consulting and construction agreements. Promotion In Motion is one of the nation’s leading makers of brand name snacks and confections and one of the 50 largest global candy companies.
MLA Properties – Retail Lease – Sanford, North Carolina
Represented MLA Properties in a retail lease to Spectrum Communications at The Shops at Cameron Place in Sanford, NC.
Terra Holdings – Hospital for Special Surgery Commercial Lease
Represented Terra Holdings in the Hospital for Special Surgery’s lease of 17,000-sq.-ft. of space at 770 Lexington Avenue in New York City.
Prominent Developer – Red Hook, Brooklyn – Ground Lease of Industrial Property
Represented an affiliate of a prominent developer in the 99-year ground lease of an industrial property in Red Hook, Brooklyn.
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.
RXR – Office and Retail Leasing
Representing RXR Realty, one of the largest real estate operating and investment companies in the New York tri-state area, in a wide range of office and retail leasing matters.
Drugstore Chain – Retail Leases
Represented a national drugstore chain in the leasing of retail locations throughout the U.S.
Greystar Real Estate Partners – $211 Million Chelsea Multifamily Acquisition
Represented Greystar Real Estate Partners in the $211 million acquisition and mortgage financing of a 204-unit multifamily building in Manhattan's Chelsea neighborhood.
Leasehold Condos – New York City Charter Schools
Represented a New York real estate developer in connection with the formation of leasehold condominiums for multiple charter schools in various locations in NYC.
Luxury Appliance Company – Manhattan Showroom Lease
Represented a multinational home appliance company in a showroom lease in Manhattan's A&D Building.
Joint Venture – $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.
Financial Institution – 2 Penn Plaza Branch Lease
Represented a large financial institution in a retail branch lease at 2 Penn Plaza with Vornado Realty Trust.
AEW Capital Management – 175 Varick Street Leasehold Interest Sale
Represented AEW Capital Management in the sale of its leasehold interest in 175 Varick Street to an affiliate of Tishman Speyer.
Amity Education Group – Acquisition of St. John’s University Campus
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.
Youngwoo & Associates – Bronx General Post Office Acquisition
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.
Wind Rose – Restaurant Lease
Represented Wind Rose, a Korean fusion restaurant, in the lease of their first location at 39 Downing Street in the West Village.
Yeshiva University – Multifamily Portfolio Sale
Represented Yeshiva University in the sale of a portfolio of ten multifamily properties in the vicinity of its undergraduate campus in Washington Heights. In addition to the sale of the buildings, the transaction included multiple leasing arrangements between Yeshiva University and the buyer, to provide Yeshiva University with the opportunity to continue renting apartments to students and faculty.
Metropolitan Commercial Bank – Leasing Matter
Represented Metropolitan Commercial Bank in the leasing of a new suburban bank branch.
U.S. Bank – Branch and Office Leases
Represented a top five U.S. bank in its retail branch and office leases throughout New York and New Jersey.
Stillwater Capital – Acquisition
Represented Stillwater Capital and its joint venture partners in the acquisition of a shopping center.
Life Insurance Company – Acquisition
Represented one of the largest life insurers in the world in its $130 million acquisition of 28 CVS drug stores in connection with 1031 exchanges.
Madison Avenue Art Gallery – Office Lease
Represented an art gallery in a Madison Avenue office lease with Vornado Realty Trust.
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.
Planet Hollywood – New Restaurant Leases
Represented Planet Hollywood International, Inc. in connection with the negotiation of leases for new restaurants in New York, Los Angeles and Boca Raton.
WNET – World Wide Plaza Lease
Represented public television network WNET on a 15-year, 95,000-sq.-ft. headquarters lease at World Wide Plaza in Midtown Manhattan.
MF Global Corporate Headquarters Lease
Represented MF Global in its 62,000-sq.-ft. New York headquarters lease.
Book Publisher – Retail Lease
Represented a major U.S. book publisher in the lease of a retail location in Midtown Manhattan.
St. Maartin Property Development and Sale
Represented a private investment management company and its joint venture partners in their development and disposition of property in St. Maartin, Netherlands Antilles, to hotel and residential developers, including a complex ground lease structure.