Legends Hospitality – Point-of-Sale System Purchase
Represented an affiliate of Legends Hospitality in the purchase of a mobile and Bluetooth-enabled point-of-sale (POS) system for use at stadiums and arenas. The POS system streamlines the purchase process for both the venue and the fans thereby effecting a more seamless experience at a game or concert.
Legends Hospitality – Willis Tower Observation Deck
Represented Legends Hospitality in the provision of design, construction development and management services for the observation deck and other attractions at Willis Tower in Chicago.
Legends Hospitality – Los Angeles FC Concessions Agreement
Represented Legends Hospitality in a joint venture with Major League Soccer’s Los Angeles FC to provide concessions services at the team’s new 22,000-seat soccer stadium.
Legends Hospitality – The Intrepid Marketplace
Represented Legends Hospitality in a joint venture with the Intrepid Air and Space Museum to provide concessions services for a new high-end food market located on the U.S.S. Intrepid.
HSA-UWC/New York Hotel Mgmt Co. – $110 Million New Yorker Hotel Financing
Represented HSA-UWC and New Yorker Hotel Management Co. Inc. in a $110 million financing for 481 8th Avenue, a mixed-use project consisting of the iconic New Yorker Hotel, office and retail.
Legends Hospitality – Miami SkyRise
Represented Legends Hospitality in a joint venture regarding the Miami SkyRise project consisting of an entertainment and observation tower overlooking Biscayne Bay in Miami. Legends is providing consulting, management and hospitality services with respect to the development and operation of the project and will operate the concession once opened.
New World Realty Advisors – Golf Club Ownership Transfer
Represented New World Realty Advisors, a premier real estate advisory firm, in connection with transferring golf club operations to a not-for-profit organization.
Legends Hospitality – Senior Secured Credit Facility
Represented Legends Hospitality in a $225 million senior secured credit facility, consisting of a $40 million term loan, a $35 million term, and a $150 million revolving credit facility. The proceeds were used to refinance existing debt and will be used for the construction and build-out of the observation deck at the new World Trade Center in New York.
Brooklyn Bridge Park Developers – Dismissal of Lawsuits Seeking to Halt Construction
Successfully defended the developers of a $320 million Brooklyn Bridge Park hotel and condominium project, defeating two lawsuits filed by activists seeking to halt construction of the project. In a decision of significance to the New York real estate industry, Herrick secured an order in New York state court denying plaintiffs’ motions for both an injunction and a declaratory judgment that the planned buildings exceeded height limitations specified in the project’s governing documents. The court found that the development complied with the law and further ruled the legal challenge barred by the statute of limitations for bringing an Article 78 proceeding. Herrick then defeated a second lawsuit claiming to assert a different land use violation, securing dismissal of the complaint on the grounds of failure to exhaust administrative remedies, statute of limitations and res judicata. Herrick continues to represent the clients on the plaintiffs’ appeal.
Legends Hospitality – Investment by New Mountain Capital
Represented Legends Hospitality, the sports and entertainment joint venture controlled by the New York Yankees and Dallas Cowboys, in a strategic partnership and investment in the company by New Mountain Capital.
The Lightstone Group – BSA Approval for Landmark Building Conversion
Represented The Lightstone Group in obtaining New York City Board of Standards and Appeals approval for a proposed alteration of a landmark, Garment District office building into a hotel.
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.
Empire Resorts Acquisition
Represented Concord Associates, L.P. in its announced merger agreement and subsequent termination with Empire Resorts, Inc. involving the issuance of approximately 40% of the outstanding common stock of NASDAQ-listed Empire Resorts, Inc., in exchange for real property on the site of the Grossinger's Hotel and the Concord Hotel in the Catskill mountain region of New York.
Real Estate Investment Firm – Development of Hotel Branding and Operations Systems
Represented a real estate investment firm in the development of proprietary branding and operations systems for a unique hotel concept involving collaborative work spaces.
Hotel Chain Sr. Executive – Employment Separation Agreement
Represented a senior executive of a major hotel chain regarding an employment separation agreement.
M&T Bank – $67 Million Manhattan Hotel Construction Loan
Represented M&T Bank in a $67 million acquisition and construction loan for the development of a 248-key Hilton Garden Inn at 6-10 Water Street.
Traders Co. Affiliate – Construction Financing and Joint Venture for Midtown Hotel
Represented an affiliate of Traders Co. in the construction financing and joint venture with equity partner for a hotel located in Midtown Manhattan with Bank of Nova Scotia.
Pro Football Hall of Fame Village – McKinley Grand Hotel
Represented the Hall of Fame Village in the acquisition of the McKinley Grand Hotel in Canton, Ohio. This is part of the efforts to modernize and update the entire Football Hall of Fame complex.
Lender – Luxury Hotel in New York City
Representing mezzanine lender in connection with defaults under the mezzanine financing for a luxury hotel in New York City, including advising the lender on a potential UCC foreclosure of the hotel or a potential sale of the lender’s mezzanine loan to a third party.
Sale of Hyatt Hotel in Jersey City, NJ
Represented Veris Residential, Inc. in the sale of the Hyatt Hotel located in Jersey City, NJ to a joint venture between affiliates of Taconic Capital Advisors LP and HEI Hotels & Resorts.
Israeli Pension Fund Manager – Syndicated Loan
Represented an Israeli pension fund manager in connection with its acquisition of a 50% interest as co-lender with a major international bank in a $81.9 million syndicated loan secured by a hotel located in downtown Washington DC.
Hyatt Place Flushing – $32 Million Mortgage Loan
Represented a major New York City developer in connection with a $32 million mortgage loan for the Hyatt Place Flushing/LaGuardia Airport hotel.
KABR Group – Canopy by Hilton Jersey City
Represented the KABR Group in connection with its participation in the development of the Canopy by Hilton Jersey City in downtown Jersey City, New Jersey.
NYLO Boutique Hotels – Financings & Operations
Represented the owners of NYLO boutique hotels in connection with financing, operations and addition to the Tapestry Collection by Hilton.
Fotografiska Park Avenue Flagship
Represent Fotografiska, a Swedish photography destination, in connection with establishing its NYC flagship location at 281 Park Avenue South, New York.
River Rock Associates – Mezz Construction Loan and Mortgage for Mixed Use Hotel, Restaurant, Residential – Queens, NY
Represented an affiliate of River Rock Associates LLC in connection with a mezzanine construction loan and second mortgage loan for the development of a mixed use hotel, restaurant, apartment and retail condominium located in Queens, New York.
East Village Hotel Developer – Access Dispute with Adjacent Property Owner Favorably Resolved
Represented the developer of a 280-room hotel in Manhattan’s East Village as plaintiff in litigation with the owner of an adjacent property who had initially refused to grant critical access required to construct safety equipment and demolish a masonry structure that projected onto our client’s property. Threatened with carrying costs of over $500,000 for every month that the project was delayed as well as the prospect that the delay would interfere with the successful negotiations and cooperation achieved with the remaining adjacent landowners, our client sought a court order granting a license to access the defendant’s property. This dispute was resolved quickly under an amicable settlement which granted our client access to the adjacent property allowing construction to proceed.
David Reis – Utah St. Regis Hotel Refinancing and Expansion
Represented the owner, an entity controlled by real estate developer David Reis, in connection with the refinancing and development of Phase II of the St. Regis Resort located in Deer Valley, Utah. The St. Regis Deer Valley is a AAA Five Diamond ski on/ski off resort that consists of condominium hotel rooms, suites and private residences.
G4 Capital Partners – 88 Wall Street
Represented G4 Capital Partners in the zoning due diligence for 88 Wall Street where the current office building is being converted to a 98,000-sq.-ft. hotel and restaurant.
FIT Investment Corporation – Manhattan Office Building Acquisition and Hotel Development
Represented FIT Investment Corporation in connection with the zoning analysis and acquisition of 45 East 33rd Street in New York City for a hotel development.
Real Estate Hotel Owner – $70 Million Sale of the Milburn Hotel
Represented the seller of the Milburn Hotel in a $70 million transaction lasting over a year with complicated issuers with multiple buyers. In addition to the real estate transaction, this sale involved complex tax structuring and defeasance issues.
Lender and Special Servicer – $126 Million Mortgage on Miami’s Shore Club Hotel
Represented the lender and mortgage servicer in litigation against a hotel developer filed in Nassau County Supreme Court and in the Appellate Division, Second Department. The underlying dispute involved an action filed by our clients in Florida seeking to foreclose the $126 million mortgage on the Shore Club Hotel in Miami, and the hotel developer's ultimately unsuccessful attempts to derail that action. Having slipped a purchase option into a hotel tenant's lease, which purported to convey to the tenant a right to purchase the mortgage loan at fair market value, the developer then "purchased" the option from the tenant and sought to enforce that option in the Florida foreclosure action. On the eve of an expected adverse ruling in Florida, the developer brought its claim to Nassau County, where the trial court granted a preliminary injunction, effectively preventing our clients from foreclosing the mortgage. We filed an appeal and obtained a reversal, resulting in the dismissal of the Nassau County action. Leave to appeal was denied by New York's Court of Appeals.
Atalaya Capital Management – $15 Million Mezz Loan for NJ Boutique Hotel
Represented Atalaya Capital Management LP in connection with a $15 million mezzanine construction loan to an affiliate of Kushner Companies for the development of the Pier Hotel, a 67-key boutique beachfront hotel and spa in Long Branch, NJ.
R Squared – Construction Loan for Historic Canoe Place Inn – Westhampton, NY
Represented an affiliate of R Squared LLC in a construction loan for the renovation of the historic Canoe Place Inn on the Shinnecock Canal in Westhampton, NY. The Inn, originally built in the early 1700s, was used as a stagecoach inn and also served as headquarters for British soldiers during the Revolutionary War. The renovated structure will include a new 25-room inn, a 1,900-sq.-ft. clubhouse and a 300-seat catering hall.
Major Concessions Company – Product Offerings
Representation of major concessions company in connection with the offering of its client product offerings.
Legends Hospitality – MainGate Equity Acquisition
Represented Legends Hospitality Management, LLC in its equity interest acquisition in MainGate, Inc., a leading event retail and merchandise company. The acquisition will create a robust multi-channel retail and e-commerce platform to facilitate the connection between brands and fans.
New Yorker Hotel – Mortgage Loan
Represented the not-for-profit owner of the New Yorker Hotel in connection with a mortgage loan, including seeking Court and New York State Attorney General approval of same.
Venture Capital Investment
Representing a premier hospitality management company in a high-tech venture capital investment to enhance the stadium experience.
Legends Hospitality – Aon Center
Represented Legends Hospitality in connection with the operation of a rooftop attraction and entertainment center located at the top of the Aon Center in Chicago.
Legends Hospitality – International Stadia Group Acquisition
Represented Legends Hospitality in the acquisition of International Stadia Group, a London-based sports and entertainment company. The acquisition will extend Legend’s global capabilities and allow for growth opportunities in the EAME regions.
FIT Investment Corporation – Manhattan Building Acquisition and Hotel Development
Represented FIT Investment Corporation in connection with the zoning analysis and acquisition of 45 East 33rd Street in New York City, and its redevelopment of the building into a 93,000-sq.-ft. hotel.
Legends Hospitality – Concessions Operations
Represented Legends Hospitality in transactions involving the operation of all food and beverage concessions and premium catering at both Angel Stadium of Anaheim and Tempe Diablo Stadium.
Hospitality Group – Building Violation Hearings
Represented a hospitality client in building violation hearings before the Environmental Control Board, a division of the New York City Office of Administrative Trial and Hearings.
Legends Hospitality – New Technology Investment
Represented Legends Hospitality in a proposed investment in software that consolidates sports franchise data.
Hospitality Group – Building Violations
Advise client on matters concerning building violations before the NYC Environmental Control Board and the NTC Criminal Court.
Legends Hospitality – Live Nation Strategic Partnership
Represented Legends Hospitality in a major strategic partnership with Live Nation to provide concession services at 34 of Live Nation's music venues in North America. The partnership represents one of the largest venue food and beverage contracts in history.
U.S. Investment Bank – $156 Million Hotel Construction Financing
Represented a major U.S. investment bank in a $156 million senior construction financing of a hotel condominium resort in Telluride, Colorado.
Legends Hospitality – VenueNext
Represented Legends Hospitality in an investment in VenueNext, a technology company that provides smartphone-based software that gathers fan metrics and analytics at stadiums, arenas and other large scale entertainment venues.
Three Wall Capital – New Jersey Hotel Acquisition
Represented Three Wall Capital in the purchase of the ground lease interest in a hotel and restaurant in Secaucus, New Jersey, as well as the related financing and the negotiation of new hotel franchise license and management agreements.
Traders Co. Affiliate – Manhattan Courtyard Marriott Refinancing
Represented an affiliate of Traders Co. in the refinancing of a 273-room Courtyard Marriott from ING Life Insurance and Annuity Company.