Jonathan M. Makarowitz, Partner

Represented a private lender on a $20 million condominium inventory loan in the Tribeca neighborhood of Manhattan.

Represented a regional bank and their investment partner in financing the construction of a mixed-use building in West Virginia with commercial space and 16 rental apartments. The apartments are targeted to provide affordable housing to teachers in the community.

Represented a regional bank and their investment partner in financing the ongoing operational costs of a community hospital in Los Angeles, California. Herrick rapidly closed the transaction, contending with a requirement to close by year end to meet regulatory and tax compliance requirements. 

Represented CIT Bank in a $35.7 million construction loan for the development of a property located at 230 Classon Avenue in Brooklyn, New York, which will consist of a 17-story building with residential units and an affordable component.

In the first transaction of its kind in New York, Herrick represented The Forest Road Company in connection with a $17 million mortgage loan secured primarily by up to $22 million in New York Brownfield Tax Credits relating to a property located in New York City. The Tax Credits and related proceeds will be earned after demolition of the existing structure, performance of environmental remediation pursuant to a Brownfield Cleanup Agreement overseen by the NYS Department of Environmental Conservation, and construction and placing into service of a new residential building at the site.

Represented Northwind Group for the $162 million construction loan for a 69-unit rental condominium on Fifth Avenue in East Midtown Manhattan owned by SHVO.

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 G4 in connection with a $29.5 million acquisition and pre-development loan for the development of property located in Brooklyn, New York for both residential and commercial use.

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 Centennial Bank on a $30 million mortgage loan financing the acquisition of a development site for a mixed use project outside of an urban center, which included mezzanine debt, preferred equity and a crowdsourced equity investment. 

Represented First-Citizens Bank & Trust Company in connection with a $52.3 million construction loan to a joint venture comprised of Wheelock Street Capital and Foundry Commercial for the construction of an industrial building located at 3800 S. Congress Avenue in Boynton Beach, FL.

Represented Greystar in connection with the $237.5 million acquisition of a multi-family residential apartment building, 800 Sixth Avenue in Manhattan. This complex deal also entailed assignments of existing mortgages, a 421-a component, New York State Housing Finance Agency assignment approval and bond redemption.

Represented a regional bank and their investment partner in financing the acquisition and redevelopment of an approximately 800,000-sq.-ft. facility in Ohio to serve as a new distribution and products assembly center for a farm supply store which will breed new jobs and opportunity for the community and for which the bank will receive New Markets Tax Credits.

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.

Represented Centennial Bank an upsize of an existing loan to Extell Development Company for a total aggregate loan amount of $43.6 million for certain pre-development costs incurred by Extell in developing its 2,500+ acre Deer Valley, Utah property as a hotel/condominium/ski resort.

Represented Centennial Bank in a $75 million financing secured by mortgages on eight properties in Brooklyn and Queens.

Represented Centennial Bank in a $54 million construction loan to 31st Street ZEF LLC. The loan was secured by a 40-story, 42 unit condominium tower located at 30 East 31st Street.

Represented Bank Hapoalim in a mezzanine loan to two real estate companies, and an amendment and extension to an existing acquisition, construction and project loan.

Represented an affiliate of G4 Capital Partners LLC in connection with a $71-million construction loan to be used for the construction of a mixed use building with more than 165,000-sq.-ft. of residential space, a community facility and parking spaces for a development at 2300 Cropsey Avenue, Brooklyn, NY.

Represented an affiliate of G4 Capital Partners LLC in connection with a construction loan to be used for the development of two mixed use buildings in Williamsburg, Brooklyn.

Represented G4 Capital Partners in a $41 million financing for JDS Development Group’s condominium development at 613 Baltic Street in Park Slope, Brooklyn.