Real Estate

Represented KABR Group in connection with its investment in a joint venture acquiring a 166-unit residential building plus additional air rights on Manhattan's Upper West Side.

Represented the Charles F. Parker Revocable Trust and its affiliate in connection with the acquisition of a building in Dumbo located at 216 Plymouth Street, Brooklyn, New York, which took approx. two years of negotiations with the relevant parties.

Represented a New York City owner/operator as part of a joint venture with an investment fund entity in a $130 million refinance of a loan secured by a multi-state portfolio of over 20 commercial-use properties. Herrick advised our client in its negotiation and execution of the loan transaction and a preferred equity arrangement. Herrick also represented our client in the concurrent reorganization at closing of the existing property-owning entities into Delaware-domiciled entities by merger or conversion with simultaneous qualification to transact business in their states of original formation.

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 a private real estate investor actively involved in the multifamily space in the closing of three preferred equity investments in multifamily properties located Texas and California.

Represented a real estate joint venture in the acquisition and financing of medical office properties throughout the United States.

Represented Extell Development Company in connection with a development ground lease for a property in Midtown Manhattan.

Represented Rechler Equity Partners in the leasing, financing and development of a distribution facility for Amazon in Suffolk County, New York.

Represented a developer, owner and operator of residential and commercial real estate in New York and Texas, in connection with the $21 million sale of a development site in the Astoria, Queens.

Represented a private lender in a condominium inventory loan in the Gramercy neighborhood of Manhattan.

Represented Y&T Development LLC in connection with the assignment of a purchase and sale agreement, and the closing under the PSA, with respect to a residential development site at 870-888 Atlantic Avenue, Brooklyn.

Represented Valley National Bank on a $140,350,000 syndicated construction loan to a subsidiary of El Ad Group, a major international development company. The proposed 32 story project consists of 42 residential luxury condo units located in the Upper East Side. Herrick was also responsible for negotiating an intercreditor agreement with the B-piece lender as well as a recognition agreement with the preferred equity lender.

On Thursday September 29th, the New York City Council – in a nearly unanimous vote – approved the Halletts Point rezoning and waterfront development plan. We are proud to have been land use counsel for this remarkable and transformative project, which will include nearly one-million square feet of mixed-use floor area, approximately 335 units of affordable housing, and over one acre of publicly accessible open space. The development required the approval of several complex zoning actions (including a rezoning and waterfront access approvals), pursuant to the Uniform Land Use Review Procedure (ULURP). As a result of our efforts in guiding the project through ULURP, the project received recommendations for approval from Queens Community Board 1, Queens Borough President Donovan Richards, as well as near unanimous votes for approval from the New York City Planning Commission and the New York City Council. The project will transform the Halletts Point Peninsula, while simultaneously addressing the City’s affordable housing problem.

Represented William Macklowe Properties in connection with a large supermarket lease to German retailer LIDL for their new ground-up development in Park Slope, Brooklyn.

Represented a university in connection with a nearly $100 million acquisition of a commercial building in Manhattan.

Represented BHI in the sale of its $80 million loan secured by a New York City hotel to an investor group headed by an Israel-based private equity firm. In connection with the sale, BHI provided the firm with $57 million in note on note financing.

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.

Represented Bowery Residents' Committee in connection with its joint venture with Camber Property Group to develop an affordable housing project comprising supportive housing and transitional housing in Queens, NY. The transaction involved construction financing for each of the supportive housing development and transitional housing development.  

Represented G4 in connection with a $95 million construction and mezzanine loan for the development of a luxury condominium building on Madison Avenue in Manhattan for both residential and commercial use.

Represented a family office and its joint venture partner in a $36 million construction loan with Provident Bank as well as review of the construction documents for the development of a mixed use building in Roslyn, New York.

Represented Extell Development Company in connection with a development ground lease from The Feil Organization as part of an assemblage of properties located on Fulton Street in Brooklyn, New York for a term of 199 years.

Represented a large NY-based nursing home owner in the acquisition of 699 92nd Street in Brooklyn, NY, from a purchaser under contract who had filed for bankruptcy. The site is triple net leased to a non-profit integrated healthcare network that is New York State's largest healthcare provider and private employer.

Herrick partnered with Two Trees to obtain approval from the City Planning Commission for a modification of the Large-Scale General Development Special Permits and Restrictive Declaration for the Domino Sugar Development on the Williamsburg waterfront in Brooklyn, NY. The modified approval will allow for the addition of approximately 1,000 square feet of open space to Domino Square and a modified and design for one of the five buildings within the larger development. The new building will now contain more than 640K square feet of floor area and approximately 560 residential units. When fully built, the entire Domino Sugar Development will include approximately 2.75 million square feet of floor area and 4.8 acres of public open space.

Represented Shorenstein Properties in connection with its sale of a 28-story office building containing over 600,000 rentable square feet in Nashville, TN.