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Real Estate - Transactional

Kasowitz’s Real Estate – Transactional Practice Group advises clients in a full array of complex issues relating to office, residential, lodging, gaming, shopping center and mixed-use projects throughout the United States.  We represent clients in acquisitions and dispositions of single properties and property portfolios; acquisitions and participations of mortgage and mezzanine debt; workouts and restructurings; financings of real estate properties and projects; office and retail leasing; and joint venture development.

Our attorneys are frequently recognized by leading legal media outlets and ranking publications.  The group has been described by The New York Times, as having handled some of the biggest deals in New York City, including the acquisition, joint venturing, financing and development of the Times Square Gateway Center at 701 Seventh Avenue.  Prominent ranking publications that regularly tout the group’s practice include Law360, The Legal 500, and Super Lawyers.  Practice leader Wallace L. Schwartz has been described as an “effective negotiator” and is regularly ranked as a leader in the real estate field by Chambers USA.

Notable representations include:

Development and Joint Ventures

  • Times Square Gateway Center.  Acquisition, financing and development of a mixed-use retail, signage and hotel project at 701 Seventh Avenue, New York, New York, for a joint venture between New Valley/Witkoff Group and Starwood Capital/Winthrop Realty Trust.
  • Steinway Site.  Acquisition, joint venturing, financing and development of a mixed-use project on West 57th Street, New York, New York, for JDS Development Group.
  • Park Lane Hotel.  Acquisition, joint venturing, financing and development of a residential, mixed-use hotel/condominium project at 36 Central Park South, New York, New York, for the Witkoff Group.
  • Tuxedo Farms.  Equity joint venturing and construction financing for a 1,200-acre master development residential community in Tuxedo, New York, for The Related Companies.
  • Tysons Corner.  Sale, joint venturing, leasing and development of a one million-square-foot residential, mixed-use project in Tysons Corner, Virginia, for DLJ Real Estate Capital Partners.
  • Brooklyn Navy Yard.  Two of the first development projects (including a WeWork co-working space and a Wegmans Food Market) at the Brooklyn Navy Yard for Boston Properties and Steiner NYC, respectively.

Acquisitions and Dispositions

  • Blackstone Group.  The acquisition of The Shops at SkyView Center in Flushing, Queens.
  • Starwood Capital Group.  The acquisition of 435 West 50th Street, the leasehold interest at 1372 Broadway and the sale of 150 West 34th Street, New York, New York.
  • Rouse Properties.  The acquisition and financing of shopping centers in Kentucky, Tennessee, Minnesota, and throughout the United States.
  • Extell Development Company.  The triple net/long-term ground leasing of four commercial properties that are part of the "Ring Portfolio" in Midtown South, New York, New York.
  • American Realty Capital Properties.  The acquisition of 300 commercial properties.
  • Africa Israel.  The sale of the Clock Tower Building at 5 Madison Avenue and the sale of the Times Square retail condominium at 229 West 43rd Street, New York, New York.

Landlord Representation

  • The Related Companies/Oxford Properties.  The one million-square-foot retail project at Hudson Yards, New York, New York, including the 250,000-square-foot lease to anchor tenant Neiman Marcus.
  • Boston Properties.  399 Park Avenue, 510 Madison Avenue, 601 Lexington Avenue, Times Square Tower, and 250 West 55th Street, New York, New York.
  • Forest City Ratner Companies.  1 MetroTech Center and One Pierrepont Plaza in Brooklyn, New York, and Westchester’s Ridge Hill shopping center.
  • Extell Development Company.  The GEM Tower on East 47th Street, New York, New York.
  • Janus Partners.  Leasing of two new construction office buildings in Harlem, New York.
  • Steel Equities. Triple net leases in Queens and Long Island, New York.

Capital Markets and Financing

  • The Related Companies.  Mortgage and mezzanine construction financing of the Hilton West Palm Beach in Florida.
  • Starwood Capital Group.  The acquisition and participation of mezzanine debt.
  • New Valley.  A joint venture to acquire mortgage debt secured by a portfolio of California office properties and a joint venture to acquire a multi-family portfolio in Maryland.
  • Kalimian Family Trust.  A highly structured mortgage and mezzanine financing of a multi-family rental building in New York City.

Workouts and Restructurings

  • LNR Partners, LLC.  Multi-state securitized portfolio loan workouts and foreclosures.
  • Borders Group, Inc.  The disposition of real estate assets throughout the country in connection with its bankruptcy and liquidation. 
  • Five Mile Capital Partners.  In their capacity as special servicer, the workout and foreclosure of securitized debt secured by a portfolio of 39 shopping centers in 13 states.  
  • DLJ Real Estate Capital Partners.  The modification of mortgage debt secured by a resort hotel in the Caribbean.
  • The Related Companies.  The modification of mortgage loans secured by properties in New York and Michigan.

Gaming and Lodging

  • Penn National Gaming.  The newly opened Plainridge Park Casino, a $225 million integrated racing and gaming facility located in Plainville, Massachusetts; and proposed gaming projects in New York, Pennsylvania, Maryland and California.
  • Intercontinental Hotels Group.  The Crowne Plaza Hotel in Times Square, New York.
  • Morgans Hotel Group.  Management agreements at properties in New York, Massachusetts and Florida.
  • DLJ Real Estate Capital Partners.  The development of a boutique hotel in Lower Manhattan, New York.

Tenant Representation

  • WeWork Companies.  Leases in the New York metropolitan area and throughout the United States.
  • Microsoft Corporation.  New York City headquarters lease and a lease in Midtown South, New York.
  • Société Générale.  New York City headquarters lease.
  • Knight Capital.  Leasing and subleasing of office space throughout the United States, including the headquarters lease in New York City.
  • Major League Baseball.  Leasing of office space in New York City and MLB Network broadcast studio space in Secaucus, New Jersey. 

Pro Bono

  • Hudson River Trust.  Renewal of the lease for the Intrepid Sea, Air & Space Museum, at Pier 86 in New York City.
  • Right to Dream.  Formation of entities providing academic and athletic training in the United States for underprivileged children from Africa.
  • Voss Water Foundation.  Formation of global partnerships to develop water projects in Africa.

Highlights 

Legal 500 US 2016 Recommends Kasowitz Real Estate - Transactional Group

Legal 500 US 2016 has again recommended Kasowitz's real estate group, singling it out as being "creative in finding solutions to some extremely complex issues."  To read more, please click here.


Kasowitz Represents Paramount Group Fund in $1 Billion Sale of 60 Wall Street

Kasowitz represented Paramount Group’s Real Estate Fund III as the seller in the $1 billion sale of the Deutsche Bank headquarters at 60 Wall Street in Manhattan, the first billion-dollar real estate sale in New York City for 2017.  To read more, please click here.


Douglas Heitner and Julia Sanabria Named 2016 "Rising Stars" by Law360 and Super Lawyers

Real Estate – Transactional partner Douglas B. Heitner and Special Counsel Julia E. Sanabria were named 2016 “Rising Stars” by Law360 and Super Lawyers, respectively.  The listings recognize lawyers under the age of 40 whose legal accomplishments belie their age.  Mr. Heitner is one of only eight lawyers recognized in Law360 for their work in transactional real estate, and Ms. Sanabria is among 2.5 percent of lawyers in New York to be listed as a “Rising Star” in Super Lawyers.