Real Estate

Represented Tennor Holdings in a 25,488 square-foot lease at One Vanderbilt Avenue representing the last available full floor in SL Green’s major development near Grand Central Terminal in midtown Manhattan.

Represented a New York City based family office in multiple financings and a refinancings for their current portfolio.

Represented a prominent developer in the sale to Brookfield Asset Management of a ground leasehold interest in 55 Bay Street, Brooklyn, NY, which is a distribution facility that our client developed and leased to Amazon.

Represented Cammeby's International Group in its 50% joint venture investment with The Harbor Group to purchase a pair of downtown Miami residential towers for approximately $450 million. This transaction is the highest-priced single asset residential sale of record.

Represented a long-standing developer client in the resolution of his twenty plus year acrimonious relationship with his business partner by negotiation of a settlement that settled their litigation and resulted in the sale of their sole asset, a development site in Montgomery County, NY, to a local developer.

Represented Preferred Bank in a $15 million refinance of a loan to an entity controlled by Namdar Realty Group, H Holding Group and Klosed Properties in the Mott Haven area of the Bronx, NY.

Represented Bank Hapoalim B.M. in connection with a $52 million sale of a $50 million mortgage loan secured by real property and development rights near the High Line in Manhattan.

Represented G4 Capital Partners in a $55 million construction loan secured by property located at 1 Wythe Avenue in Greenpoint, Brooklyn.

Represented Millennium Partners in connection with a new 500,000 square-foot lease with Boston Properties for its international headquarters at 399 Park Avenue in Manhattan including significant design and construction related lease negotiations for the clients’ initial improvement work, as well as the negotiation of design, consulting and construction agreements for the improvement work.

Represented the institutional equity investor in a joint venture to acquire, finance and develop a 257,000 square-foot 299-unit multifamily project in Durham, NC. Project debt and equity is approximately $66.5 million.

Represented a privately owned investment company on the sale of property located in Bronx, New York comprising a development site, as well as unused development rights pursuant to a zoning lot development agreement recorded against neighboring property. 

Represented a prominent developer in connection with a $7.1 million purchase of an industrial property located at 8401 Escort Street, Philadelphia, PA, which is adjacent to Philadelphia International Airport. The acquisition involved a joint venture with AIG Global Real Estate Investment Corp. and was financed by Ready Capital Commercial. 

Represented Keepers Storage in the sale of self-storage facilities located in Manhattan, Staten Island and Nyack, NY.

Herrick represented Bank Leumi USA on an $80 million construction loan secured by property located at 27-01 Jackson Avenue, Long Island City.

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 The Holy Spirit Association for the Unification of World Christianity in connection with a mortgage loan secured by a property located in Washington, DC. The borrower operates the Kirov Academy, a renowned non-profit ballet school.

Represented a private real estate investor in the preferred equity investments involving two multi-family developments in North Carolina and South Carolina, and an investment in a portfolio of fifteen properties across the U.S. which were net-leased to Dollar General. 

Represented both Migdal Insurance Company Ltd. and Menora Mivtachim Insurance Ltd., two of the largest Israeli insurance companies, in the negotiation of a joint venture with Silverstein Properties to acquire the U.S. Bank Tower in downtown Los Angeles, California for a purchase price of $430 million. The deal involved tax structuring, negotiation of partnership agreements, as well as oversight of the acquisition and loan documents.

Achieved significant victory in a high-profile, multi-year dispute over the approximately $1 billion dollar development at 200 Amsterdam—an important ruling for both Herrick clients and developers throughout New York City. Herrick represented Mitsui Fudosan and SJP Properties as co-counsel in the zoning litigation involving Article 78 and other claims relating to their development of the luxury high rise building when a neighborhood coalition of Upper West Side residents and politicians challenged the Department of Building's approval of the project and two approvals by the N.Y.C. Board of Standards and Appeals. The N.Y.S. Appellate Division unanimously reversed and ruled in favor of the developers, finding that the building permit was lawful and that the trial court should have deferred to the N.Y.C. Board of Standards and Appeals. The N.Y. Court of Appeals denied the opposition group’s motion for leave to appeal.

Represented Slate Property Group by providing a zoning analysis and zoning opinion letter for construction loan financing in connection with the development of a 166-unit, residential development located at In Forest Hills, New York.

Represented Centennial Bank on a $65 million construction loan secured by property located at 200 Montague Street in Brooklyn. The borrower intends to construct a 121-unit residential apartment building with retail space of approximately 7,000 square feet above grade and 5,000 square feet below grade.

Represented Gothic 96th Street LLC in connection with the refinancing of a property located at 747 Amsterdam Avenue in Manhattan and the defeasance of the existing loan from the lender.

Represented Zeta Charter Schools in connection with the negotiation of a lease and formation of a leasehold condominium for a to-be-built 124,000 square-foot eight-story stand alone-building in the Inwood section of Manhattan. The building will serve students from pre-K through eighth grade.

Represented Metropolitan Commercial Bank in a $17 million dollar loan for a property located at 9-03 44th Road, Long Island City, New York. Among other things, the deal involved working with the ground lessor, the NYC Industrial Development Agency and the preferred equity investor.