Matters

Roseland Residential – Construction Loan for Port Imperial Building – New Jersey

Represented Roseland Residential, a subsidiary of Mack-Cali Realty Corp., in connection with a $92 million construction loan for its Port Imperial Building 8/9, an approximately 313-unit residential development project in Weehawken, New Jersey.

Israeli Pension Fund Manager – Acquisition Administration of $58.6 Million Inventory Loan

Represented an Israeli pension fund manager in the acquisition and administration of $58.6 million inventory loan for a mixed used condominium in Harlem, New York. In addition to the administration of the loan, Herrick facilitated the closings for each of the condominium units.

MLA Properties – Retail Lease – Sanford, North Carolina

Represented MLA Properties in a retail lease to Spectrum Communications at The Shops at Cameron Place in Sanford, NC.

Classical Charter Schools – 6-Story South Bronx Charter School

Represented Classical Charter Schools in connection with the negotiation and formation of a leasehold condominium for a 6-story 59,000-sq.-ft. charter school in the South Bronx.

Zeta Charter Schools – 25,000-Square-Foot Condominium Unit

Represented Zeta Charter Schools in connection with the negotiation of a lease for a to-be-built 25,000-sq.-ft. condominium unit in the Bronx, which will be occupied by them as a 3rd-8th grade charter school.

Senior Care Development – 53-story Retirement Community Sale, Chicago

Represented David Reis and Senior Care Development in the structuring and sale of The Clare, a 53-story 338-unit Continuing Care Retirement Community (CCRC) located in Chicago.

Rabina Properties – Development of New River Yacht Club, Fort Lauderdale

Represented Rabina Properties in the third phase of a large scale development of the New River Yacht Club project in downtown Fort Lauderdale, Florida. Phase three is slated to be a 230-unit Class A high-rise multifamily rental building being developed by Rabina Properties and the Related Group.

Pinnacle Companies & Kohl Partners – Luxury Multifamily Condominium – Cliffside, NJ

Represented a joint venture between Brian Stolar’s Pinnacle Companies and Kohl Partners in the development of a 131-unit luxury multifamily condominium complex in Cliffside Park, NJ known as Aurora Over the Hudson.

Maxx Properties – $65 Million Financing – Henderson, Nevada

Represented MAXX Properties in the acquisition and $65 million Fannie Mae financing of a multifamily property in Henderson, NV known as Villas at Green Valley.

River Rock Associates – Mezz Construction Loan and Mortgage for Mixed Use Hotel, Restaurant, Residential – Queens, NY

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.

Goldman Sachs – Zoning Due Diligence for Financing of Major Long Island University Redevelopment

Represented Goldman Sachs in the zoning due diligence for the $225.6 million financing of a major redevelopment at the Brooklyn campus of Long Island University. LIU plans to construct a residential high-rise containing roughly 30% affordable units, as well as a garage structure and a rooftop athletic field.

HK Organization – Empire Stores Redevelopment

Represented the HK Organization in a joint venture with Midtown Equities and Rockwood Capital to redevelop Brooklyn’s Empire Stores, a complex of seven historic warehouses. The property was transformed into a mixed-use creative hub with 100,000-sq.-ft. of retail, restaurant and event space in addition to 300,000-sq.-ft. of office space.

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.

Rabina Properties – 520 Fifth Avenue Development

Represented Rabina Properties in the acquisition, financing, joint venture, restructuring and recapitalization of the vacant development parcel located at 520 Fifth Avenue in Manhattan. The development is initially projected to include an 800-foot-tall tower on the corner of East 43rd Street and Fifth Avenue. 

Community Preservation Corporation – Affordable Housing – New York

Represented Community Preservation Corporation in connection with its master joint venture with Xenolith Partners LLC, a certified minority- and women-owned business enterprise (M/WBE) company, to develop affordable housing in New York.

New Market Tax Credits – Large Ohio Redevelopment

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.

Historic & New Market Tax Credits – Redevelopment of Historic Building Philadelphia, PA

Represented a regional bank and their investment partner in financing the acquisition and redevelopment of a historic building in Philadelphia into a 254,000-sq.-ft. public health campus which will serve the local community and for which the bank will receive New Markets Tax Credits. The project was also financed with Historic Tax Credits due to the nature of the building’s historical importance.

New Market Tax Credits – Construction of Mixed-Use Building – West Virginia

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.

New Market Tax Credits – Redevelopment of Indiana Industrial Facility

Represented a regional bank and their investment partner in financing the modernization and expansion of an industrial facility in Indiana. The facility will add approximately 20,000-sq.-ft. of additional manufacturing space which will be used for additional manufacturing lines.  Once final, the renovated and updated facility will create an additional 20 to 30 jobs in the community.

Not-for-Profit Religious Entity – Commercial Condo Acquisition

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

Centennial Bank – $120 Million Miami Construction Loan

Represented Centennial Bank in the $120 million construction loan for property located at 400 Biscayne Boulevard in Miami. The planned development includes a 49-story tower with 646 luxury rental apartments, 51,000-sq.-ft. of commercial space and a 22,000-sq.-ft. church for the First United Methodist Church of Miami.

Harbor Group International – $117 Million Brooklyn Acquisition

Represented an affiliate of Harbor Group International, LLC in the acquisition of a $117 million newly constructed 193-unit multifamily property known as The Frederick, located at 564 St. John’s Place in Crown Heights, Brooklyn.

Muss Development – $165 Million Manhattan Property Sale & Development Rights Transfer

Represented Muss Development in its sale of two fee parcels and one development rights transfer as part of an assemblage on the Upper East Side that, along with the other five fee parcels and three development rights transfers involved, totaled over $165 million.

Kiska Developers – $104 Million Manhattan Sale with Development Rights

Represented Kiska Developers, Inc. in the $104 million sale of a development site on 56th street and Lexington Avenue to an entity controlled by Rotem Rosen. The development included ten lots, unused development rights purchased from a neighboring property and Inclusionary Housing Air Rights from an affordable development.

Harel Insurance Co. – $100 Million Loan Acquisition

Represented Harel Insurance Company in the acquisition of a $100 million portion of a $200 million loan from major New York publicly-traded REIT.

Artis Senior Living LLC – NYC Land Use and Zoning

Represent Artis Senior Living LLC, national long term care operators, on property review and zoning regulations related to potential development in New York City.

Not-for-Profit Leasehold Condominium

Represented a national not-for-profit in the acquisition of a New York City full floor office leasehold condominium.

G4 Capital Partners – 127 West 23rd Street, Manhattan

Represented G4 Capital Partners on zoning and land use review regarding a $75 million loan for a 30-story office tower at 127 West 23rd Street in Chelsea.

G4 Capital Partners – $71 Million Construction Loan in Brooklyn, NY

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.

FBE Limited – Brooklyn Acquisition, Including Marina

Represented FBE Limited in connection with the acquisition of waterfront property including a marina located in Brooklyn, New York for $57.5 million and with the related financing.

Real Estate Investors – Formation of Real Estate Debt Fund

Represented real estate investors in the formation and launch of a real estate fund to originate, acquire and service high-yield loans collateralized by real estate or equity interests in real estate owning entities.

Leasehold Condos – New York City Charter Schools

Represented a New York real estate developer in connection with the formation of leasehold condominiums for multiple charter schools in various locations in NYC.

Hyatt Place Flushing – $32 Million Mortgage Loan

Represented a major New York City developer in connection with a $32 million mortgage loan for the Hyatt Place Flushing/LaGuardia Airport hotel.

NYLO Boutique Hotels – Financings & Operations

Represented the owners of NYLO boutique hotels in connection with financing, operations and addition to the Tapestry Collection by Hilton.

KABR Group – Canopy by Hilton Jersey City

Represented the KABR Group in connection with its participation in the development of the Canopy by Hilton Jersey City in downtown Jersey City, New Jersey.

NYC Economic Development Corporation – Community Facility Condo – Brooklyn, NY

Represented the NYC Economic Development Corporation in the formation of a condominium at 20 Lafayette Avenue, Brooklyn, in order to facilitate the acquisition of a community facility unit with rights to a 16,000-sq.-ft. outdoor plaza (known collectively as BAM South) to be used by various artist groups licensed by NYC.

Somerset Partners Affiliate – Bronx Industrial Site Acquisition and Financing

Represented an affiliate of Somerset Partners in the $7.5 million acquisition and financing of 9 Bruckner Boulevard in the South Bronx. The industrial site, which is situated opposite of Somerset’s planned residential development project along the waterfront, will be converted into a 30,000-sq.-ft. Bruckner Market food hall.  

Acquisition & Financing of Multifamily Property – Gainsville, FL

Represented a developer in connection with the acquisition of multifamily property located in Gainesville, Florida and with the related financing.

Arch Real Estate Companies – North Carolina Acquisition

Represented Arch Real Estate Companies in connection with the $63 million acquisition and financing of the Cambridge Corporate Center in Charlotte, North Carolina.

Shorenstein Properties – Nashville, TN

Represented Shorenstein Properties in connection with its purchase of a 28-story office building containing over 600,000 rentable square feet in Nashville, TN.  The purchase represents Shorenstein’s first acquisition in the Nashville market. 

Hong Kong Asset Mgmt Co. – Foreign Investment in U.S. Real Estate

Represented a Hong Kong-based asset management company in an investment in a joint venture to develop commercial real estate in the United States.

L+M Development Partners – 25 Park Row Construction Financing

Represented L+M Development Partners in a $350+ million financing transaction for the construction and development of a 45-story mixed-use condominium building at 25 Park Row in lower Manhattan. The site is the former headquarters of J&R Music World.

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.

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.

Pro Football Hall of Fame Village – McKinley Grand Hotel

Represented the Hall of Fame Village in the acquisition of the McKinley Grand Hotel in Canton, Ohio. This is part of the efforts to modernize and update the entire Football Hall of Fame complex.

Emmes Asset Management – California Office Properties Acquisition

Represented Emmes Asset Management Company in the acquisition of a number of multi-million dollar class A office properties in San Diego, California, in a joint venture with the investment arm of a major university system.

Harel Insurance – Acquisition in Nashville, Tennessee

Represented Harel Insurance Company in the acquisition of a fifty-percent interest in an $82 million construction facility for the ground up construction of  a 420-unit rental property in Nashville, Tennessee.

Commercial Bank – $65 Million Houston, TX Acquisition Financing

Represented a commercial bank in a $65 million acquisition and capital improvement loan to finance the acquisition and improvement of 14 multi-family properties in Houston, Texas.

Mitsui Fudosan – $259 Million Hudson Yards Office Tower Investment

Represented Mitsui Fudosan America in land use diligence in advance of a $259 million investment in 55 Hudson Yards, Related Companies' 1.3 million-sq.-ft, Hudson Yards office tower.

Sherwood Equities – $167 Million Hudson Yards Development Site Sale

Represented Sherwood Equities in the $167.3 million sale of a Hudson Yards Development Site to the McCourt Group, headed by former Los Angeles Dodgers owner Frank McCourt.