Real Estate

Closed the sale of two nursing homes in New York for the combined sale price of approximately $93 million.

Represented a pair of limited liability companies in their purchase of a 320-bed nursing home located in Brooklyn, New York, and then again in connection with an associated $56.5 million first mortgage loan and a $4.85 million second mortgage loan made by a syndicate of banks led by Bank of America, N.A. and Israel Discount Bank of New York.

Closed a leveraged buyout of a 499-bed nursing home in Manhattan (Dewitt Rehab) for $105 million, including a $90 million bridge to HUD from KeyBank. The property is located on the Upper East Side of Manhattan and has always been looked upon as the most significant site in Manhattan available for eventual redevelopment into condominiums.

Represented the purchaser in connection with the $54 million acquisition of land improved by a 280-bed nursing home in Suffolk County, New York.

Represented seller of large industrial property that served as the headquarters for a digital printing company. Transaction valued at $23 million involved an environmental condition risk analysis, IRS Section 1031 tax analysis, and the preparation of multiple lease-back agreements in regard to client’s operating company.

Represented seller in connection with the sale of a state-of-the-art equine veterinary hospital in Nassau County, New York.

Represented real estate developer in the “upleg” purchase, sale and financing of real properties following a 1031 tax free exchange, including ER facilities in Georgetown Texas ($8.1 million) and Oswego, Illinois ($11.1 million).

Defended purchaser of a foreclosed development in multi-million-dollar lawsuit by former developer in Placer County arising from an amended deed of trust filed by plaintiff days before foreclosure. After successful demurrers and motions for summary judgment, prevailed on a bench trial and secured a significant attorneys fee award for the client.

Defended developer and majority landowner of a 200-acre development in Loomis, California, in a lawsuit over deposits allegedly owed to a conservation steward by the developer. Successfully moved to expunge a lis pendens on 51 five acre lots and filed successive demurrers, resulting in dismissal of the action and the imposition of a significant attorney fee award in favor of the client.

Represented developer of $16 million home situated on former Pickfair Estate in an action for breach of promissory note and judicial foreclosure and defended against construction defect claim in multi-party action. Settled on terms favorable to client two days before picking a jury for 12-week trial.

Represented landlord in connection with a 25,000 square foot lease in New Jersey for a service and parts center for the manufacturer of electric cars.

Represented sub-sublandlord in connection with the sub-subleasing of 55,758 square feet of office space in Manhattan in a transaction with aggregate rent in excess of $20 million.

Represented tenant, a major Hollywood film studio, in connection with its leasing of three film production stages, 30,000 square feet of office space, and 15,000 square feet of shop space at a film production complex being constructed in Yonkers, New York with aggregate rent in excess of $33 million.

Represented landlord, a religious institution, in connection with the leasing of a building and access easements for a photographic gallery, dining and café space in Manhattan.

Represented a rental and service provider of automated and conventional lighting and mobile power generation equipment for the motion picture, television, special events and sports broadcast markets in connection with 12-year commercial lease of industrial property (approximately 70,000 square feet) situated on 4.28 acres. Approximate transaction value $10 million.

Represented the leading producer of dinnerware, flatware, cookware, glassware, coffee and tea accessories in connection with several leasing and purchase transactions for industrial properties.

Structured and closed a $13 million credit facility for a large emergency and inpatient medical group. The complex and challenging transaction involved thirty- three separate entities, four different banks, across seven states, and the avoidance of a potential $100,000.00 contractual penalty.

Closed the largest HUD-insured loan ever on a single building in the United States. The loan, having a principal amount of approximately $127 million, was in connection with the refinancing of health care facility in New York City. Notably, the refinance transaction was threatened at the 11th hour given a Certificate of Occupancy issue. Nevertheless, after days of diligent research and negotiation by our attorneys, the matter was resolved and the closing was able to proceed as scheduled.

Represented lender in connection with a $27 million mortgage loan to a 625-unit residential cooperative building in the city of New York.