Represented Harbor Group International in the zoning and land use for their $760 million purchase of the granite tower, known as Black Rock, at 51 West 52nd Street in Manhattan from ViacomCBS Inc.
Represented Goldman Sachs as zoning counsel for a $240 million construction loan for Phase One of the final major downtown Brooklyn development project at 80 Flatbush Avenue. The overall project includes five buildings and over 800 apartments, 200,000 square-feet of office space, 40,000 square-feet of retail and two schools. Phase One is a nearly 500-foot-tall tower with about half the overall units. The block-sized project included multiple entitlements from the City and a complex development rights arrangement.
Represented G4 Capital Partners in connection with the $130 million construction and mezzanine loans to affiliates of The Jay Group for the development of a residential building located at 101 Fleet Place in Brooklyn.
Represented the Rabsky Group in the land use due diligence for the $92 million construction loan for a large mixed-use project in Brooklyn’s Gowanus neighborhood.
Herrick acted as zoning and land use counsel to Blackstone for a $322 million loan to developers Zeckendorf Development, Atlas Capital Group and The Baupost Group to finance a portion of the land acquisition and pre-development work at 570 Washington Street. The planned development is a two-tower condominium development rising 450 feet and encompassing a full city block near Google’s St. John’s Terminal campus.
Representing Property Markets Group (PMG) regarding New York City’s rezoning study for the Gowanus Canal area. Herrick successfully completed a year-long review process at the New York City Planning Department to "certify" the Gowanus Canal public access plan – include a 20,000 sq. ft. shorefront esplanade PMG's development site at Sackett and Bond Streets. We are thrilled that PMG is one of the first developers in the Gowanus to gain approval from City Planning following the November 2021 rezoning of the area. This critical milestone and approval will now allow PMG to proceed with a Building Permit to allow construction at their site – providing the team with enough time to complete construction and qualify for the now-expired 421-a program before the final June 2026 deadline. The Development is currently planned to include 500+ units of housing, including a significant permanently affordable housing component, ground floor retail, and a publicly-accessible esplanade and open space filled with recreational activities, art, and amenities along the Gowanus Canal.
Represented a joint venture comprised of a prominent real estate development company and a global holding company in connection with the development of a 23-story mixed-use building in the Midtown East neighborhood of Manhattan. This representation has included, among other aspects, representing the joint venture as borrower in connection with a $95 million construction loan, as well as representing the joint venture in connection with the initial acquisition and financing of the development site and related unused development rights from a neighboring property through zoning lot merger.
