Cammeby’s International – Refinance of The Monterey – Manhattan, NY
Herrick represented Cammeby's International, as borrower, in the $173.1 million loan to refinance The Monterey, a luxury apartment building on Manhattan’s Upper East Side.
Matters
Prominent NYC Developer – Massachusetts Warehouse Acquisition
Represented a prominent New York City developer in connection with a $37 million purchase of an industrial property located at 94-104 Glenn Street, Lawrence, MA, which houses a warehouse facility.
KPR Centers – $180 Million Multi-State Retail Portfolio
Represented KPR Centers in connection with acquiring a $180 million multi-state portfolio of eight shopping centers through a joint venture structure. The portfolio includes retail centers in Florida, Wisconsin and Missouri, comprising more than 1.5 million square feet of space. Cumulatively 96 percent leased at the time of the acquisition, the portfolio is a combination of grocery-anchored and power centers.
NorthEnd Equities – $221 Million Portfolio – Florida
Represented NorthEnd Equities in connection with the financing of $221 million for the acquisition of a 14-property portfolio, consisting of 2,383 units throughout the state of Florida. This sale marks the highest price paid for a deal spanning the state’s Central, Southwest and North areas.
Sale of 360 North Rodeo Drive – Beverly Hills, California
Represented the Harkham Family in the sale of their hotel property at 360 Rodeo Drive in Beverly Hills, California to LVMH. The 42,560-square-foot property also includes three high-end retail storefronts leased to Rolex, Patek Philppe and Ferrari. The sale, at around $2.3 million per room, is one of the largest ever in terms of a per key price in California.
NYC Developer – Ground Leasehold Sale to Brookfield
Represented a prominent developer in the sale to Brookfield Asset Management of a ground leasehold interest in 55 Bay Street, Brooklyn, NY, which is a distribution facility that our client developed and leased to Amazon.
Prominent NYC Developer – Philadelphia Industrial Property Acquisition
Represented a prominent developer in connection with a $7.1 million purchase of an industrial property located at 8401 Escort Street, Philadelphia, PA, which is adjacent to Philadelphia International Airport. The acquisition involved a joint venture with AIG Global Real Estate Investment Corp. and was financed by Ready Capital Commercial.
Crescent Sky Capital – $10 Million Apartment Complex Acquisition
Represented Crescent Sky Capital LLC in connection with the $10 million acquisition of the Castle Apartments complex in Tallahassee, Florida from Capital Quad, Inc. and on the related acquisition loan.
FBE Limited – Brooklyn Acquisition, Including Marina
Represented FBE Limited in connection with the acquisition of waterfront property including a marina located in Brooklyn, New York for $57.5 million and with the related financing.
Prominent NYC Developer – Brooklyn Warehouse Sale to Prologis
Represented a prominent developer in the acquisition, financing negotiations and ultimate $60 million sale of the purchase contract for a two-acre warehouse site at 150 East 52nd Street in Brooklyn, NY to the mammoth warehouse landlord, Prologis.
MAXX Properties Affiliates – $116 Million Colorado Multifamily Portfolio Refinancing
Represented affiliates of MAXX Properties in their $116 million refinancing of a portfolio of six multifamily properties located in Colorado. The refinancing was insured by the U.S. Department of Housing and Urban Development.
$151.5 Million Ten-Property Portfolio Acquisition
Represented affiliates of FBE Limited LLC and an additional prominent New York City developer 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.
Joint Venture – $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.
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.
Acquisition & Financing of Multifamily Property – Gainsville, FL
Represented a developer in connection with the acquisition of multifamily property located in Gainesville, Florida and with the related financing.
Criterion Group – Long Island City Acquisition
Represented Criterion Group in the purchase of two parcels just north of Queensboro Plaza between 22nd and 23rd streets for $79.95 million.
Continental Ventures – Upper East Side Joint Venture
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.
Centennial Bank – $75 Million Multi-Property Mortgage Loan
Represented Centennial Bank in a $75 million financing secured by mortgages on eight properties in Brooklyn and Queens.
Commercial Bank – $65 Million Mortgage Financing
Represented a bank in a $65 million mortgage financing, and a related multi-million mortgage financing to affiliates of a film and television production studio.
Schron and Fruchthandler Families – $161 Million Brooklyn Warehouse Sale
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.
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.