Real Estate Transactions in February 2019

March 14, 2019 | Real Estate, Zoning & Land Use
  1. Scott Feuer, Harvey Epstein, John Panagopoulos and Sean Simensky represented a New York-based real estate investment management company in the $32 million acquisition of the former Woodbury Country Club located in Woodbury, NY. The transaction included entry into a construction loan facility in the aggregate amount of $56.7 million to finance the redevelopment of the property in two phases, comprising a total of 76 luxury town homes, a fitness center and related improvements.
  2. Louis D’Amaro and Stephen Weissman closed on a $34.2 million refinance of a Hilton Garden Inn hotel located in Port Washington, NY. The refinance required the assignment and consolidation of the exiting mortgage on the premises and the approval of the Nassau County Industrial Development Agency.
  3. Louis D’Amaro and Max Gershenoff completed the assignment of an existing lease for the entire third floor of a West 22nd Street, New York, NY office building. Simultaneously, the client had been negotiating a new lease for 4,000 square feet (the entire fifth floor) at another location and on West 19th Street, which negotiations were discontinued
    after the consummation of the 22nd Street lease assignment.
  4. John Panagopoulos represented a dermatological medical practice in its acquisition of a commercial cooperative unit located at 21 East 87th Street, New York, NY. The purchase price was $1.5 million.
  5. John Panagopoulos and Stephen Weissman represented the Scott Avenue Partners LLC in the sale of air and developmental rights for a property located at 90-94 Scott A venue, Brooklyn, NY. This transaction was the first phase for the sale of the real property, scheduled for later this year.

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