PRACTICE AREAS


Karen Scanna has worked on several of the most complicated and high profile transactions in New York City’s history, focusing primarily on acquisition, development and financing (mortgage, mezzanine and preferred equity, construction and permanent), usually from the owner/operator’s perspective. Several of Ms. Scanna’s transactions involve “public-private” partnerships, with Ms. Scanna representing private developers acquiring City-owned property, by deed or ground lease, for redevelopment in response to the City’s requests for proposals.

In addition to being involved in transactions covering the more traditional property types, such as office, retail and multifamily (including affordable and fair market housing, ground-up condominium developments and condominium conversions), Ms. Scanna is also experienced with various “alternative” property types, including hotels, assisted and senior living and student housing. The vast majority of Ms. Scanna’s clients have elected to operate their properties in joint venture with other parties and, accordingly, a significant part of her practice has been the negotiation of partnership and limited liability company agreements, representing the developer/operator partner as well as the capital partner and/or preferred equityholder.

REPRESENTATIVE MATTERS

Some of the more notable transactions in which Ms. Scanna has been involved include the following: 

  • Representation of Taconic Investment Partners, L&M Development Partners and BFC Partners in the acquisition, financing and development of 9 sites within the Seward Park Urban Renewal Area to be known as Essex Crossing, which will be comprised of over 1.9 million square feet with over 1,000 new residences, 800,000 square feet of retail, 400,000 square feet of office space, community attractions and green spaces.
  • Representation of the purchaser of Riverton Houses in East Harlem, New York with respect to the acquisition, financing, and continued operation thereof, including the negotiation of an Article XI regulatory agreement with the City of New York.
  • Representation of Ares Management LLC in its joint venture with Ian Schrager for the acquisition, development and financing of 160 Leroy Street, New York, New York.
  • Representation of various investors in the disposition of their equity interests in the mixed use office/retail properties known as Bakery Square and Bakery Square 2.0, located in Pittsburgh, Pennsylvania.
  • Representation of Silverstein Properties in the 2001 acquisition and financing of various leasehold interests in the World Trade Center, and the subsequent restructuring and continued redevelopment thereof.
  • Representation of the New York Mets in the construction and financing of the stadium known as Citi Field.

HONORS & AWARDS

  • Listed in the 2017 edition of Best Lawyers in America for work in real estate law
  • Listed in Chambers USA: America's Leading Lawyers for Business
  • Nationally recommended by The Legal 500 United States
  • Recognized in the 2009, 2010, 2016 and 2017 Women in Real Estate Spotlight from the New York Real Estate Journal
  • Named by Real Estate Forum as one of its Women of Influence in the commercial real estate industry for 2008, 2014 and 2015
  • Listed in Super Lawyers for 2007-2008 and 2013-2017
  • Featured in The New York Times Magazine as one of the top women lawyers in New York State, as recognized by Super Lawyers magazine in its 2013 New York Metro Super Lawyers list
  • Selected by NY Residential magazine as a top woman in commercial real estate for 2010
  • Selected by Real Estate Weekly as a top commercial deal maker for 2009

MEMBERSHIPS

  • Full Member, Urban Land Institute
  • Advisory Board, Chicago Title Insurance Company
  • Member, Real Estate Board of New York
  • Member, New York City Bar Association
  • Member, WX, Inc. - New York Women Executives in Real Estate
    • Member, Membership Committee

ADMITTED TO PRACTICE

New York, 1996; New Jersey, 1995


EDUCATION

J.D., New York University School of Law, 1995

B.S., Yale University, 1990