Cole Schotz advised , in association with an institutional partner, on a $479 million senior and mezzanine construction financing from Apollo Global Management in connection with the redevelopment of the “Hudson Commons” property located at 441 Ninth Avenue in Manhattan. The property, which currently consists of 8 stories and is comprised of 423,000 square feet, is located at the northwest corner of 34th Street and Ninth Avenue, adjacent to the City’s Hudson Yards redevelopment project. The redevelopment of 441 Ninth Avenue will add an additional 17 stories to the existing building, providing a combined gross of 700,000 square feet.
The Cole Schotz team consisted of attorneys Leo Leyva, Jordan Metzger, Jordan Fisch, Gerald Gline, Rab Nalavala, Robyn Pellegrino, Stuart Rosen, Danielle Pasquariello, Matthew Schneid, Elizabeth Navatto, Samantha Epstein, Jan Lewis, Alan Rubin and Adam Morsy. The firm also represented Cove Property Group in their acquisition and related financing of the property in 2016.
See a of the project.
In 2017, the Cole Schotz real estate team represented developers and acquirers of retail, multi-family, office, industrial, self-storage and mixed-use properties in over $1 billion dollars of acquisition and construction financing.