Not-for-Profits

Represented a not-for-profit religious entity in the acquisition of a commercial condominium unit on West 83rd Street.

Herrick represented PEY Realty LLC, which is an entity formed for the benefit of the Chabad Lubavitch of the West Side, in an arbitration against an affiliate of Sackman Enterprises. In 2017, PEY entered into a contract to purchase a $30m community facility condominium unit in a new building being developed on W 96th St. The condominium unit, 6 floors and a cellar, was intended to house the Chabad’s permanent operations, including all religious, educational, and community services. In connection with the contract, PEY tendered a multi-million dollar down payment. The project experienced years of construction delays. Once it became clear that litigation was imminent, each party called defaults under the contract. After a three-day hearing, The Herrick team was able to secure an award directing that the down payment be returned to PEY, together with a significant award in additional money damages, including the lion’s share of attorneys’ fees. The Chabad can finally put the down payment to a productive use and resume its efforts to find a permanent home.

Represented a major university as the tenant in connection with a lease of approximately 50,000 rentable square-feet of space within an office building in Manhattan. The lease also provides the university with a right of first offer with respect to another 50,000 rentable square-feet of space.     

Represented Cristo Rey Brooklyn High School in the acquisition of its Brooklyn campus from the Sisters of Mercy. The campus consists of a 54,000 square foot school and a 22,000 dormitory.

Represented The Community Preservation Corporation in a joint venture with Camber Property Group to acquire Morris Heights Mews, a 100 percent affordable property in The Bronx, for $29 million, which will preserve and extend affordability for 111 units. A new 20-year Section 8 contract was executed, and the joint venture will undertake approximately $3 million in improvements to the complex.

Herrick partnered with the ASPCA on a pro bono basis to enable them, under zoning, to provide overnight animal boarding their veterinary clinics. The Department of Buildings generally does not allow overnight animal boarding in areas not zoned for manufacturing use, and the ASPCA’s property is zoned for residential and commercial use. We drafted a zoning memorandum and a Zoning Resolution Determination (ZRD1) which outlined a legal strategy to allow for overnight animal boarding at clinics they operate in the five boroughs. 

Representing the University of Nevada, Las Vegas, in negotiating a joint-use agreement with the NFL’s Las Vegas Raiders related to the development of the $1.9 billion Las Vegas Stadium.

Represented the Community Preservation Corporation as the equity provider in the $500+ million renovation of 16 New York City Housing Authority buildings in Manhattan. NYCHA is partnering with the Community Preservation Corporation, Community Development Trust, Monadnock Development LLC, Lemor Development Group, Kalel Holdings LLC and the Community League of the Heights on the acquisition of a ground lease and massive renovation of 1,700 apartments. The upgrades come as part of the “NYCHA 2.0” initiative. This investment is in keeping with the Community Preservation Corporation’s mission of maintaining and providing affordable housing.

Represented Terra Holdings in the Hospital for Special Surgery’s lease of 17,000-sq.-ft. of space at 770 Lexington Avenue in New York City.

Represented Ascend Charter Schools on a construction loan for the renovation of its facilities at 1501 Pitkin Avenue in Brooklyn.

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. 

Represented Yeshiva University in the sale of a portfolio of ten multifamily properties in the vicinity of its undergraduate campus in Washington Heights. In addition to the sale of the buildings, the transaction included multiple leasing arrangements between Yeshiva University and the buyer, to provide Yeshiva University with the opportunity to continue renting apartments to students and faculty.

Represented client, as its integrity counsel, in connection with a rate review.

Represented a major sports franchise operator in connection with cyber securities initiatives.

Provided pro bono representation to Part of the Solution ("POTS"), for the acquisition of a building adjacent to their Bronx headquarters. We helped negotiate the contract for purchase and the mortgage financing, which was provided by a not-for-profit entity specializing in loans to comparable borrowers.