Matters

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.

RAGHSA Real Estate LLC – One Union Square South

Represented RAGHSA Real Estate LLC, a U.S.-based company, in a complex $200+ million acquisition of 100% of the equity interests in the owner of the 240-unit residential component of One Union Square South from The Related Companies, L.P. Additionally, Herrick represented the purchaser in securing a $135 million FNMA loan and preferred equity financing through a joint venture with a Related affiliate entity. The transaction also involved HFA regulatory, 421-a tax abatement, ADA consent decree, fee-over-plane, reciprocal operating agreement and existing bond redemption components.

Gothic 96th Street LLC – Refinancing and Defeasance

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.

Keepers Storage – New York Transactions

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

Private Real Estate Investor – National Preferred Equity Investments

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. 

Real Estate Partner Settlement and Subsequent Property Sale

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.

GPB Capital – Property Sale – Long Island, NY

Represented GPB Capital in connection with the sale of property in Great Neck, NY. The property is the site of the Biener Ford dealership in Great Neck, and the buyer is an affiliate of the owners of the dealership.

Private Real Estate Investor – Financing – North Carolina and Arizona

Represented a private real estate investor in the purchase of a note secured by a mortgage on a multi-family project in Raleigh, North Carolina. Additionally, Herrick represented the investor in a loan secured by a pledge of membership interests in a multi-family project in Tempe, Arizona.

SR Real Estate Partners – Construction Loan for Student Housing – North Carolina

Represented SR Real Estate Partners in connection with a $75 million construction loan where the proceeds of the loan will be used to construct a 229-unit, 754 bed student housing project at UNC Charlotte in North Carolina.

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.

Racebook Capital Partners – Acquisition of Belmont Park’s Ruffian Equine Center

Represented Racebook Capital Partners in the acquisition of the Ruffian Equine Center at Belmont Park, and the leasing of the facility to Cornell University.

Avant Capital Partners – Real Estate Financings

Represented Avant Capital Partners in connection with more than 15 loans made through its ongoing lending program. These loans varied in amounts between five and ten million dollars, and were secured by all types of real estate assets.

AEW Capital Management – 175 Varick Street Leasehold Interest Sale

Represented AEW Capital Management in the sale of its leasehold interest in 175 Varick Street to an affiliate of Tishman Speyer.

Essex Capital – Loan Secured by Ground Lease Interest

Represented Essex Capital in an $18.5 million loan made by The Union Labor Life Insurance Company. The loan is secured by a mortgage on borrower’s ground lease interest in a residential building located in Brooklyn.

Cipriani – 25 Broadway Lease

Represented Cipriani in the leasing of its banquet facility at 25 Broadway.

Atalaya Capital Management – $15 Million Mezz Loan for NJ Boutique Hotel

Represented Atalaya Capital Management LP in connection with a $15 million mezzanine construction loan to an affiliate of Kushner Companies for the development of the Pier Hotel, a 67-key boutique beachfront hotel and spa in Long Branch, NJ.

Carpe Real Estate Associates – Acquisition in Miami, Florida

Represented Carpe Real Estate Associates in the acquisition of a six property assemblage in Miami, Florida.

Clarion Partners Investment Trust – Sale of North Carolina Corporate Center

Represented an investment trust advised by Clarion Partners in the $55 million sale of Durham, North Carolina's Palladian Corporate Center, to a fund managed by Innovatus Capital Partners.

Essex Capital – Refinancing

Represented Essex Capital in a take-out refinancing from Investors Bank secured by a newly constructed multifamily apartment building in Ridgewood, New York.

Greenspan Family – Sale of Bronx Multifamily Portfolio

Represented the family of Abraham Greenspan in the sale of four multifamily properties with 250+ units in various neighborhoods in the Bronx, NY.

237 Duffield Street LLC – $38 Million Brooklyn Construction Loan

Represented 237 Duffield Street LLC in a $38 million construction loan made by Principal Life Insurance Company.

Oases Real Estate – Sale of Rights to Construct 40 Manhattan Condo Units

Represented Oases Real Estate in the sale of its right to construct 40 condominium units over a working post office on the west side of Manhattan.

Real Estate Owner – $27 Million Ground Lease Sale

Represented a privately-held real estate holding and property management company on the $27 million sale of the ground lease of a high-rise Manhattan residential building.