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Transactional

Real Estate

  • Skyline: Real Estate Year-in-Review 2013

    Real Estate

    The Paul, Weiss Real Estate Department has the privilege of working with some of the most prominent real estate institutions in New York City and around the globe. Over the last year we were honored to help clients across a broad range of industries take advantage of favorable market conditions. Unprecedented development continues to transform New York's skyline, while a changing landscape of property users is shaping our future in the new economy. The science, technology, medical and education sectors are expanding their footprints, while residential, retail and hospitality clients have been able to choose among an abundance of financing options and structures.

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  • Allied Partners Acquires Historic
    Brill Building at 1619 Broadway

    Real EstateLitigation

    Paul, Weiss client Allied Partners, in a joint venture with Brickman Real Estate, acquired the historic Brill Building on Broadway and 49th Street from Stonehenge Partners and Invesco Real Estat. The venture financed the acquisition with a preferred equity investment from Square Mile Capital and mortgage and mezzanine loans provided by Starwood Property Trust. The venture plans to reposition the asset largely through significant upgrades and lease up of the retail space on Broadway.

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  • SL Green Realty Closes $360 Million Refinancing

    Paul, Weiss client SL Green Realty Corp., New York City's largest office landlord, in a joint venture with affiliates of a life insurance company, completed a $360 million refinancing of the joint venture's office property at 100 Park Avenue. The loan was provided by a syndicate led by Landesbank Hessen-Thuringen Girozentrale.

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  • Paul, Weiss Represents Green Chimneys on Sale of Gramercy Building

    Real Estate

    Paul, Weiss client Green Chimneys School sold its former Manhattan facility at 327 East 22nd Street to an affiliate of Suzuki Capital.

    Green Chimneys provides residential, educational, clinical and recreational services for children with special educational and emotional needs, with a focus on animal-assisted therapies.

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  • Murray Hill Properties
    Acquires Parsons Building

    Real EstateTaxIP Transactions

    Paul, Weiss client Murray Hill Properties, in partnership with affiliates of Soho Properties Inc., Hampshire Hotels Management LLC and Flintlock Construction Services, acquired the Parsons New School for Design building at 560 Seventh Avenue in the Times Square area. The acquisition was financed by Colony Capital. The partnership plans to demolish the existing improvements and construct a $300 million mixed-use project that will include a new Dream Hotel and approximately 20,000 square feet of retail. The building currently houses the Garment Center Synagogue -- the congregation will be relocated temporarily and the new building will include a new synagogue for the congregation.

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  • Lightstone to Develop Outlet Mall

    Real EstateTax

    Paul, Weiss client The Lightstone Group, through its affiliate Paragon Retail, successfully completed a joint venture with Simon Property Group, the largest publicly traded REIT, to develop Eagan Premium Outlets, a retail outlet center in Eagan, Minnesota, outside Minneapolis.

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  • Las Vegas Sands Closes VML Refinancing

    FinanceReal Estate

    Venetian Macau Limited, a subsidiary of Paul, Weiss client Las Vegas Sands Corp., closed an amended and restated credit agreement for the dollar equivalent of approximately $5.2 billion, consisting of the dollar equivalent of $2 billion of new revolving commitments, the dollar equivalent of approximately $2.4 billion of extended initial term loans and the dollar equivalent of approximately $0.8 billion non-extended initial term loans.

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  • Rose Associates to Develop Downtown Brooklyn Property

    Real Estate

    Paul, Weiss client Rose Associates entered into a joint venture with Benenson Capital Partners for the ground-up development of 210 Livingston Street near the Barclays Center in Brooklyn. Rose has been engaged by the joint venture as the developer of the project, and the parties plan to construct a 360-unit multifamily rental building.

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  • SL Green Completes Sale of
    Manhattan Office Building

    Real Estate

    Paul, Weiss client SL Green Realty Corp., a NYSE listed REIT and the largest owner of office space in Manhattan, completed the sale of 333 West 34th Street, a 350,000-square foot office building located between Eighth and Ninth Avenues, to American Realty Capital.

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  • CIM Group Development Featured
    in The New York Times

    Real EstateTax

    On Sunday, May 19, the front page of The New York Times featured 432 Park Avenue, a residential development by Paul, Weiss client CIM Group at Park Avenue and 56th Street which, when completed, will be the tallest residential building in the Western Hemisphere.

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Real Estate Partners

Paul, Weiss, Rifkind, Wharton & Garrison LLP