Recent Transaction Archive 2018-2019
Brooklyn, New York: Rosenberg & Estis, P.C. represented Churchill Credit Holdings, LLC as lender in the making of a $74,250,000.00 condominium inventory loan for The New York Dock Building Condominium.
(Closed: December 27, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein, David Fries and Casey E. Delaney.
Manhattan, New York: Rosenberg & Estis, P.C. represented Motcomb Estates, Ltd. as lender in the making of a $62,500,000.00 mortgage loan secured by The Chatwal, located at 130 West 44th Street.
(Closed: December 20, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein, David Fries and Casey E. Delaney.
Miami Beach, Florida: Rosenberg & Estis, P.C. represented Motcomb Estates, Ltd. as lender in the making of a $27,500,000.00 mortgage loan secured by The Dream Hotel.
(Closed: December 20, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein, David Fries and Casey E. Delaney.
Brooklyn, New York: Rosenberg & Estis, P.C. represented 18 Sixth Avenue Owner LLC in connection with a $460,000,000.00 construction loan made to Borrower by Manufacturers and Traders Trust Company as Administrative Agent and as Lender.
(Closed: December 19, 2019)
(Rosenberg & Estis, P.C. Team: Richard L. Sussman and Patricia D. Cleary.
Phoenix, Arizona: Rosenberg & Estis, P.C. represented Trevian Capital as lender in the making of a $23,500,000.00 construction loan for a multi-family development in Phoenix, Arizona.
(Closed: December 16, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein and David Fries.
Manhattan, New York: Rosenberg & Estis, P.C. represented Emerald Creek Capital as lender in the making of a $50,000,000.00 first mortgage loan to a midtown property owner.
(Closed: December 12, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein and David Fries.
Long Island City, New York: Rosenberg & Estis, P.C. represented Churchill QPS Lender LLC as lender in the making of a $29,750,000.00 first mortgage loan to AAGS Holdings LLC.
(Closed: November 20, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein and David Fries.
Great Neck, New York: Rosenberg & Estis, P.C. represented Emerald Creek Capital 3, LLC as lender in the making of a $5,700,000.00 first mortgage loan to 5 Horizon Way, LLC.
(Closed: November 19, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein and David Fries.
Wellington, Florida: Rosenberg & Estis, P.C. represented Motcomb Estates Ltd. as collateral and administrative agent on behalf of Koronus Holdings DAC, lender, in the making of a $77,667,719.00 loan.
(Closed: November 18, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein and David Fries.
Manhattan, New York: Rosenberg & Estis, P.C. acted as special real estate counsel representing CBCS Washington Street LP in connection with a ground lease amendment, a complex organizational restructuring and recapitalization, a $145 million construction and mezzanine financing and an amendment to hotel management agreement for a boutique international luxury hotel development in TriBeCa.
(Closed: November 13, 2019)
(Rosenberg & Estis, P.C. Team: Michael E. Lefkowitz and Patricia D. Cleary and Zachary M. Rockoff.
Long Island City, New York: Rosenberg & Estis, P.C. represented a borrower / developer in connection with the take-out of construction financing with a permanent loan from Bank Leumi in the amount of $14,600,000.
(Closed: October 28, 2019)
(Rosenberg & Estis, P.C. Team: Larry R. Mergentime.
Brooklyn, New York: Rosenberg & Estis, P.C. represented a borrower in the refinancing of a loan by Sterling National Bank.
(Closed: October 28, 2019)
(Rosenberg & Estis, P.C. Team: Michael E. Lefkowitz and Larry R. Mergentime.
New Rochelle, New York: Rosenberg & Estis, P.C. represented a lender in the making of a construction completion loan in the aggregate total amount of $25,000,000.00.
(Closed: October 11, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein and David Fries.
Manhattan, New York: Rosenberg & Estis, P.C. served as legal counsel to a joint venture between The Durst Organization and Bank of America in the $1.6 billion financing of One Bryant Park in Manhattan, which included a $950-million refinancing CMBS loan and the $650 million-dollar refinancing of the publicly assisted loan with the required defeasances of the previous CMBS and publicly assisted loans. The total loan of $1.6 billion is secured by a mortgage on One Bryant Park, a 51-story with approximately 2,350,000 rentable square feet of office, restaurant and retail space, in which Bank of America is the largest tenant.
(Closed: August 21, 2019)
(Rosenberg & Estis, P.C. Team: Dennis I. Hellman, Eric S. Orenstein, Kamilla Bogdanov and Zachary Rockoff.
Durham, North Carolina: Rosenberg & Estis represented a tenancy-in-common purchaser in the acquisition of two apartment complexes. The firm also represented the tenancy-in-common in the $25,500,000.00 acquisition financing made by Arbor Commercial Funding 1, LLC.
(Closed: June 27, 2019)
(Rosenberg & Estis, P.C. Team: Michael E. Lefkowitz and Patricia D. Cleary.
Manhattan, New York: Rosenberg & Estis represented Emerald Creek Capital 3, LLC in the making of a $33,000,000.00 bridge loan for a development assemblage in connection with a property on the Upper East Side.
(Closed: June 26, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein and David Fries.
Manhattan, New York: Rosenberg & Estis represented the borrower in the refinancing of 2211 Third Avenue.
(Closed: June 20, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein and David Fries.
Ft. Worth, Texas: Rosenberg & Estis represented Trevian Capital in their originating an acquisition financing on a multi-family apartment complex.
(Closed: June 14, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein and David Fries.
Orlando, Florida: Rosenberg & Estis represented Emerald Creek Capital in the making of a loan to refinance an existing retail strip mall.
(Closed: June 13, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein and David Fries.
Bethel, New York: Rosenberg & Estis represented Reuben Brothers Limited in their making of a $27,900,631.00 inventory loan with respect to 305 development lots.
(Closed: May 30, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein and David Fries.
Fairview, New Jersey: Rosenberg & Estis represented Trevian Capital in their making of a $21,500,000.00 construction loan.
(Closed: May 30, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein and David Fries.
Manhattan, New York: Rosenberg & Estis represented 668 Ave LLC, the borrower, in a $3,500,000.00 first mortgage loan financing made by Flushing Bank.
(Closed: May 30, 2019)
(Rosenberg & Estis, P.C. Team: Larry R. Mergentime.
Manhattan, New York: Rosenberg & Estis represented 401 E. 74 Owners Corp., the borrower, in its $7,255,000.00 secured (mortgage) financing and entrance into a $750,000.00 unsecured (revolving line of credit) from Apple Bank for Savings.
(Closed: May 14, 2019)
(Rosenberg & Estis, P.C. Team: Larry R. Mergentime and Kamilla Bogdanov.
Manhattan, New York: Rosenberg & Estis represented 9 Vandam 1 LLC with their making of a $3m mortgage loan to 9 Vandam Associates 1 LLC and represented 9 Vandam 2 LLC in connection with their making of a $5,904,433.00 mezzanine loan to 647 Ninth Avenue Associates, LLC in the same transaction.
(Closed: May 14, 2019)
(Rosenberg & Estis, P.C. Team: Adam R. Sanders and David Fries.
Manhattan, New York: Rosenberg & Estis served as legal counsel to The Durst Organization in connection with the $900 million refinancing (as well as the related defeasance of the prior existing mortgage) of the approximately 1,800,000-square-foot office and retail building located at 151 West 42nd Street (formerly known as 4 Times Square) in Manhattan. The financing was provided by a syndicate of lending institutions led by JP Morgan Chase Bank and Wells Fargo Bank. The vast majority of the office space in the building had formerly been leased to Conde Nast (which has already relocated to One World Trade Center) and Skadden Arps (which will be moving to a newly constructed building near the Hudson Yards). To enhance its ability to attract new tenants to the building, The Durst Organization invested more than $170 million in capital improvements including constructing a new entrance and lobby, making state-of-the-art base building upgrades and energy efficient technological improvements and adding a tenant amenity floor that includes a food hall, cafe and conference spaces. Mr. Hellman commented that “The Durst Organization’s huge investment has already paid dividends as the client has successfully re-leased more than 1,000,000 square feet in the building, including most of the former Conde Nast space and a portion of the Skadden Arps space.” Those leases include the recently consummated more-than-200,000-square-foot lease with Bank of Montreal’s BMO Capital Markets. The $900 million facility includes a $120 million leasing tranche, which will be available for leasing costs required to lease up of the balance of the available space in the building.
(Closed: April 8, 2019)
(Rosenberg & Estis, P.C. Team: Dennis I. Hellman.
Manhattan, New York: Rosenberg & Estis represented 101 West 73rd LLC, the borrower, in a $5,000,000.00 loan made by Manufacturers and Traders Trust Company. From start to finish, transaction was closed in one week.
(Closed: April 11, 2019)
(Rosenberg & Estis, P.C. Team: Richard L. Sussman.
Irving, Texas: Rosenberg & Estis represented Trevian Capital in connection with a loan secured by an office condominium in Irving, Texas.
(Closed: March 15, 2019)
(Rosenberg & Estis, P.C. Team: Eric S. Orenstein and David Fries.
Philadelphia, Pennsylvania: Rosenberg & Estis represented Emerald Creek Capital 3, LLC in connection with a loan secured by a property owner in Philadelphia, PA.
(Closed: March 15, 2019)
(Rosenberg & Estis, P.C. Team: Michael E. Lefkowitz and David Fries.
Manhattan, New York: Rosenberg & Estis served as legal counsel to The Durst Organization in connection with a $400 Million mezzanine loan from Bank of America, N.A. relating to 49% of the membership interests in the owner of the building known as One Bryant Park in Manhattan. The building is a 51-story Class A building containing approximately 2,300,000 rentable square feet of fully leased office and retail space. Bank of America and the law firm of Akin Gump are the building’s primary tenants.
(Closed: February 8, 2018)
(Rosenberg & Estis, P.C. Team: Dennis I. Hellman, Kamilla Bogdanov)
Manhattan, New York: Represented The Durst Organization in a recent lease transaction with Nasdaq, Inc. at 4 Times Square. Nasdaq, one of the original tenants in the building, will quintuple its space in 4 Times Square from 24,000 square feet to 145,000 square feet of space, relocating its global headquarters from One Liberty Plaza in Lower Manhattan to the same location as its current MarketSite, at 4 Times Square. As part of the 15-year new lease and lease extension, the Nasdaq MarketSite will be expanded from the 1st and 2nd floors to include, on the 10th floor of the building, a state-of-the-art event space and a 2,100-square-foot terrace overlooking Times Square. In addition to Nasdaq’s MarketSite and headquarters office space within the building, Nasdaq is home to approximately 3,900 listings, and its technology powers more than 90 marketplaces worldwide. R&E worked on the extension of and amendment to the Market-Site lease; the extension of and amendment to the signage license for the iconic cylinder sign; a new license with options for rooftop signage; and a new a license with options for a sign on the Broadway side of the building and a “ticker tape” sign on the building.
(Closed: February 6, 2018)
(Rosenberg & Estis, P.C. Team: Robert M. Kessler and Jolie E. Meer )