Transfer of Assets and Brand of High-End Retail Clothing Company
Represented owners of a high-end retail clothing company in the successful transfer of the assets and brand to a competitor.
Matters
Private Lender – $25 Million Loan for Long Island City Development
Represented a private lender in a $25 million loan for the development of a site in the Long Island City neighborhood of Queens, NY.
G4 Capital Partners – Construction and Mezz Loan – Brooklyn
Represented G4 Capital Partners in connection with the $130 million construction and mezzanine loans to affiliates of The Jay Group for the development of a residential building located at 101 Fleet Place in Brooklyn.
Private Lender – $23.5 Million Mortgage Loan for Hotel Development
Represented a private lender on the $23.5 million mortgage loan secured by property located in Manhattan's Financial District. The owner/operator intends to develop and operate a hotel.
MRP Realty – 405 Park Avenue – Development Rights Transaction
Represented MRP Realty in connection with the acquisition of over 27K-sq.-ft. of unused development rights from a neighboring property through zoning lot merger, along with a related light and air easement. The development rights will facilitate the expansion and renovation of 405 Park Avenue, a major office building in Manhattan.
Privately Held Real Estate Company – Acquisition of Inclusionary Air Rights
Represented a privately held real estate company as purchaser on an approximately $17.7 million acquisition of inclusionary air rights. The contract period was over three years, during which time the seller constructed the applicable affordable housing on the generating site.
NYC Cooperative Housing Corp. – Sale of Development Rights by Zoning Lot Merger
Represent a New York cooperative housing corporation on the sale of development rights by zoning lot merger. The development rights will be used to facilitate the construction of a new condominium building.
RXR Realty – $800 Million Acquisition of 237 Park Avenue
Represented RXR Realty in its joint venture acquisition of 237 Park Avenue, a 1.2-million-sq.-ft. office building located in the heart of the Grand Central District, between 45th and 46th Streets.
Schron Family – $252 Million Manhattan Multifamily Acquisition
Represented the Schron family in connection with the $252 million acquisition of the Monterey, a 521-unit multifamily property located at 175 East 96th Street.
Joint Venture Acquisition of Development Rights
Represented a joint venture of prominent real estate companies in connection with the acquisition of unused development rights from a neighboring property through zoning lot merger, along with a related light and air easement and construction license. The development rights will facilitate the redevelopment of a significant Manhattan property.
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.
U-Haul International – $200 Million West Chelsea Sale
Represented U-Haul International affiliate AMERCO Real Estate Company, in the $200 million sale of four contiguous industrial properties in Manhattan's West Chelsea neighborhood to Related Companies, along with unused development rights from a fifth parcel that U-Haul retained.
U-Haul International – Real Estate Financings
Representing U-Haul International in a wide range of real estate financings, secured by properties in New York and New Jersey.
Ascend Charter Schools – Brooklyn Construction Loan
Represented Ascend Charter Schools on a construction loan for the renovation of its facilities at 1501 Pitkin Avenue in Brooklyn.
Private Lender – $32 Million Construction Loan
Represented a private lender on a $32 million construction loan to facilitate the development of a new, mixed-use building in the Lower East Side neighborhood of Manhattan.
Private Lender – $27 Million Mortage Loan
Represented a private lender in a $27.68 million mortgage loan secured by a prominent development site in the Financial District neighborhood of Manhattan, NYC.
Commercial Bank – Financing
Represented a commercial bank in a $24.5 million acquisition and capital improvement loan to finance the acquisition and improvement of an office building in Nashville, Tennessee.
Real Estate Developer – $53 Million Refinance
Represented a real estate developer in connection with the refinancing of two existing residential apartment buildings in Englewood, New Jersey. The loan was provided by State Farm Life Insurance Company. The transaction involved addressing the complex zoning approval history for the project.
Veteran NYC Developer – Partnership Dispute
Successfully represented veteran New York City developer as plaintiff in litigation filed in New York state court arising out of a dispute with former business partners over interests in a certain major New York City real estate development project. Herrick was able to resolve the dispute quickly, negotiating a settlement agreement on favorable terms for our client, which avoided protracted litigation.
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