Bank Leumi – Manhattan Acquisition and Construction Loan
Represented Bank Leumi USA in connection with a $48 million acquisition loan and subsequent construction loan for a residential property at 306 East 86th Street in Manhattan.
Brack Capital Real Estate – Manhattan Condo Offering Plan
Represented Brack Capital Real Estate in the condo offering plan for 90 Morton Street as well as in the closing of multiple condo units for this West Village residential condo.
Joint Venture – $68 Million Woolworth Building Condo Conversion and Sale
Represented a joint venture between Cammeby's International and The Witkoff Group in the conversion of the iconic Woolworth Building's top 30 floors to a condominium unit, and the $68 million sale of the unit to Alchemy Properties.
Extell – $360 Million Manhattan Portfolio Purchase
Represented Extell Development Company in the $360 million purchase, flip and financing of multiple properties from the Duell family's real estate portfolio.
$151.5 Million Ten-Property Portfolio Acquisition
Represented affiliates of FBE Limited LLC and an additional prominent New York City developer in the $151.5 million acquisition of a ten-property multifamily and office property portfolio from affiliates of the Braun Family, and the flip of parts of the portfolio to other investors.
Brooklyn Industrial Property Acquisition
Represented an affiliate of a prominent developer in the acquisition of an industrial development site on Columbia Street in Red Hook, Brooklyn.
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.
R Squared – Refinancing of Two Industrial Portfolios on Long Island
Represented R Squared in connection with refinancing of two industrial property portfolios consisting of 13 warehouse and industrial buildings in Suffolk County, New York.
R Squared – Construction Loan for Historic Canoe Place Inn – Westhampton, NY
Represented an affiliate of R Squared LLC in a construction loan for the renovation of the historic Canoe Place Inn on the Shinnecock Canal in Westhampton, NY. The Inn, originally built in the early 1700s, was used as a stagecoach inn and also served as headquarters for British soldiers during the Revolutionary War. The renovated structure will include a new 25-room inn, a 1,900-sq.-ft. clubhouse and a 300-seat catering hall.
American Heritage Communities – Financing for Senior Housing in PA and NJ
Represented American Heritage Communities in the $78 million construction loan and mezzanine loan for the development of a continuing care retirement community (CCRC) in Reading, PA and the $49 million acquisition and financing of a senior housing age-restricted community in Teaneck, NJ.
Maxx Properties – Acquisition & Financing – Las Vegas, Nevada
Represented Maxx Properties in their acquisition, financing and 1031 exchange for Madison at Spring Valley, a 168-unit multifamily community in Las Vegas.
New York Yankees – $1.5 Billion Stadium Financing
Represented the New York Yankees in the issuance of $1.5 billion in municipal tax-free and taxable bonds by the New York City Industrial Development Agency, which financed the lease and construction of the new Yankee Stadium. We drafted and negotiated the lease agreement for the new stadium, as well as ancillary real estate agreements pertaining to parking lots and garages; construction, demolition and insurance, and public transportation. We were also integrally involved in navigating the Yankees through the lengthy federal, state and local governmental permit and approval process.
Port Authority of New York and New Jersey – World Trade Center Land Use Counsel
Land use counsel to the Port Authority of New York and New Jersey in the development of the new World Trade Center complex.
Convene – NYC Leasing Counsel
Represented Convene in multiple New York City leases, including their flagship location with more than 70,000-sq.-ft. of retail/event space at Brookfield Place in downtown Manhattan. The space comprises the former Saks Fifth Avenue lower Manhattan flagship location.
Polo Ralph Lauren – Office and Showroom Lease
Represented Polo Ralph Lauren Corporation in a 50,000-sq.-ft. Manhattan office and showroom lease.
LVMH Moët Hennessy Louis Vuitton – New York Counsel
Counsel to LVMH Moët Hennessy Louis Vuitton and the company's luxury brands in all New York real estate transactions.
Cipriani – 30 Rockefeller Plaza Restaurant Lease
Represented the Cipriani family in their lease of the world famous Rainbow Room at 30 Rockefeller Center.
Ascend Charter Schools – Brooklyn Lease
Represented Ascend Charter Schools in a 45,000-sq.-ft. lease from the Moinian Group and Bushburg Properties in their new luxury residential tower at 123 Linden Blvd. in Brooklyn, NY.
Risland U.S. Holdings – $502 Million Construction Loan
Represented a joint venture consisting of Risland U.S. Holdings, LLC (a U.S. subsidiary of a multi-billion dollar publicly traded international developer) and a group of local developers in a $502 million loan for the construction of a new 67-story condominium building in Long Island City. This transaction stands as the largest condo construction loan in Queens and the building, rising to 984 feet with 802 units, will be the tallest building in the borough.
Rechler Equity Partners – Gabreski Airport Lease and Site Development
Represented Rechler Equity Partners on all aspects of their 40-year renewable ground lease to redevelop Suffolk County’s 55-acre Gabreski Airport.
R Squared – Refinancing on Industrial Properties, Long Island, NY
Represented R Squared LLC in a mortgage loan from Dime Community Bank. The proceeds of the loan were used to refinance leasehold mortgage loans on two industrial properties located at 200 and 220 Roger’s Way in Westhampton Beach, NY.
Migdal Insurance Company Ltd. – Manhattan Office Building Investment
Represented affiliates of Migdal Insurance Company Ltd. in the negotiation of joint venture arrangements with affiliates of Vanbarton Group and Ohio Public Employee Retirement System in connection with a REIT investment resulting in the purchase of a 34% indirect ownership interest in a 780,000-sq.-ft. office building located at 425 Lexington Avenue in Manhattan.
Migdal Insurance Company Ltd. – Multi-State Joint Venture Acquisition
Represented affiliates of Migdal Insurance Company Ltd. in the negotiation of a joint venture arrangement with affiliates of Rialto Capital Management, Elite Street Capital and Menora Mivtachim Insurance in connection with the purchase of an indirect ownership interest in a portfolio of multi-family properties in Maryland, Texas and Missouri.
Deutsche Bank – Manhattan Zoning Due Diligence
Represented Deutsche Bank in zoning due diligence for the redevelopment of 150 Rivington Street, the former site of Streit's Matzo Factory.
Vanbarton Group – $450 Million Sale of 180 Water Street
Represented Vanbarton Group in the $450 million sale of its remaining interest in 180 Water Street to MetroLoft Management. The sale was the second largest New York City real estate transaction in 2017, according to data from The Real Deal.
MetLife Stadium – $650 Million Bond Placement
Represented a special purpose entity affiliate of the National Football League's New York Jets and the New York Giants, in a complex public financing for MetLife Stadium that involved the New Jersey Economic Development Authority and local government.
BFC Partners – City Council Approval – Bedford Armory Redevelopment
Successfully helped BFC Partners obtain New York City Council approval to redevelop the Bedford Union Armory in Crown Heights, Brooklyn, into a 500,000-sq.-ft., mixed-use property with a recreational facility, community venue and office and commercial space.
F&T Land Group – Tangram Development, Flushing, Queens
Represented F&T Group in the financing, development and construction of the Tangram development, an approximately 1.2-million-sq.-ft. mixed use project located in Flushing, Queens. Herrick assisted in the $230 million construction loan as well as in the filing of a condominium offering plan for a 48-unit office building, hotel, open air mail, movie theatre, restaurants and two residential buildings totaling 324 units.
Real Estate Family – $500 Million Business Divorce
Represent a member of a prominent real estate family in a business divorce and estate mediation which involved the partition of approximately $500 million in real estate assets previously held by the family-owned business.
The Lightstone Group – $330 Million Manhattan Ground Lease Sale
Represented The Lightstone Group in the combined $330 million sale of a ground lease position owned by Abraham Kamber & Company LLC and a subleasehold estate owned by Lightstone at 1407 Broadway.
Bank Leumi – $90 Million Construction Loan – Surfside, FL
Represented Bank Leumi USA in a $90M construction loan to a subsidiary of ASRR Capital Ltd., a publicly-traded Israeli company, for the development of a 12-story luxury condominium tower in Surfside, Florida.
Beijing Developer – Manhattan Development Site Acquisition
Represented a Beijing-based developer in the acquisition and financing of a gas station on Manhattan's west side. The developer intends to create a mixed-use building that will include residential condominiums and ground floor retail space.
Westfield Corporation – Fulton Center Retail Leasing
Represented Westfield Corporation in the retail leasing of Manhattan's Fulton Center. Fulton Center is one of New York City's largest transit hubs - approximately 300,000 people travel through it every weekday.
Rabina Properties – MedMen Lease – Miami, FL
Represented Rabina Properties in a lease to MedMen for their Collins Avenue property in Miami Beach. MedMen is one of the leading publicly traded, United States-based cannabis company with operations in California, Nevada, New York, and Florida.
RXR – Atlantic Station Financing
Represented RXR in the $103 million permanent financing of Phase I of Atlantic Station, a mixed-use project in Stamford, Connecticut with 325 residential units and 20,000-sq.-ft. of retail space.
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