Development and Construction

Our clients are behind some of the most interesting and successful real estate projects in the country. With deep experience and a broad range of capabilities, we help them realize their vision of shaping the skylines and streetscapes of communities across the United States.

Our team advises on projects of all scope and size including office buildings, residential structures, hotels and shopping centers. Not only do we assist our clients in acquiring a development site, but our multidisciplinary team enables our clients to meet a range of complementary needs.

We help clients to create the appropriate ownership structure; favorably negotiate the terms of both the construction and permanent financing; and negotiate partnership arrangements between various venture participants. We also help our New York-based clients navigate land use issues and advise on governmental incentive programs to obtain the maximum financial assistance that may be available.

Areas of Focus

Acquisitions and Dispositions
Construction Contracting
Construction Financing
Economic Development and Incentives (New York)
Infrastructure and Energy
Joint Ventures
Land Use (New York)
Public-Private Partnerships

Experience

Developers of Essex Crossing in the 1.9 million-square-foot Lower East Side megaproject which covers nine separate LES sites spanning six acres that had been largely vacant for 50 years. When completed, it will transform the largest stretch of undeveloped city-owned land in Manhattan below 96th Street.
TF Cornerstone in its winning bid to build a 1.5 million-square-foot mixed-use waterfront property on two New York City-owned sites along the East River in Long Island City.
Alexandria Real Estate Equities, as purchaser, in the $700 million land use acquisition and deal for creation of the Alexandria Center for Science and Technology at the East River Science Park in New York City. The bioscience park will include 1.1 million square feet of commercial and lab space and 1 acre of public open space.
Pace University in acquiring a long-term ground lease condominium interest in a planned dormitory. The building, which includes student housing, retail and ancillary space and a public plaza, cost over $48 million to construct, with a total square footage of more than 129,000 square feet. As part of the transaction, we obtained a real estate tax exemption from New York City.
World-Wide Holdings in negotiations for a long-term lease with the New York City Educational Construction Fund for a $1.5 billion development project in New York City. The site was originally occupied by two public schools and, as developed, will include a million-gross-square-foot mixed-use building consisting of a 65-story tower with 266 residential rental and condominium housing units and new school facilities.

Practice Contacts

Jeffrey R. Keitelman

202.739.2810

jkeitelman@stroock.com

Brian Diamond

Real Estate

Areas of Focus

Acquisitions and Dispositions
Construction Contracting
Construction Financing
Economic Development and Incentives (New York)
Infrastructure and Energy
Joint Ventures
Land Use (New York)
Public-Private Partnerships

Experience

Developers of Essex Crossing in the 1.9 million-square-foot Lower East Side megaproject which covers nine separate LES sites spanning six acres that had been largely vacant for 50 years. When completed, it will transform the largest stretch of undeveloped city-owned land in Manhattan below 96th Street.
TF Cornerstone in its winning bid to build a 1.5 million-square-foot mixed-use waterfront property on two New York City-owned sites along the East River in Long Island City.
Alexandria Real Estate Equities, as purchaser, in the $700 million land use acquisition and deal for creation of the Alexandria Center for Science and Technology at the East River Science Park in New York City. The bioscience park will include 1.1 million square feet of commercial and lab space and 1 acre of public open space.
Pace University in acquiring a long-term ground lease condominium interest in a planned dormitory. The building, which includes student housing, retail and ancillary space and a public plaza, cost over $48 million to construct, with a total square footage of more than 129,000 square feet. As part of the transaction, we obtained a real estate tax exemption from New York City.
World-Wide Holdings in negotiations for a long-term lease with the New York City Educational Construction Fund for a $1.5 billion development project in New York City. The site was originally occupied by two public schools and, as developed, will include a million-gross-square-foot mixed-use building consisting of a 65-story tower with 266 residential rental and condominium housing units and new school facilities.