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.