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News & Events : NYC Real Estate Weekly for Dec 17 MLGB hangs with Shearman, Seyfarth and DLA Piper

NEWS

NYC Real Estate Weekly for Dec 17 MLGB hangs with Shearman, Seyfarth and DLA Piper
Featuring Gary M. Meltzer

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(December 17, 2018, 5:55 PM EST) — Simpson Thacher & Bartlett LLP, Dechert LLP and Meltzer Lippe Goldstein & Breitstone LLP were among more than a dozen law firms that worked on the 10 largest New York City deals for which records became public last week, a group of transactions that included three matters above the $200 million mark.

Simpson Thacher helped longtime client The Carlyle Group with its $284 million purchase of a Queens property, and Dechert guided MetLife Real Estate Lending LLC on a $179.8 million loan MetLife provided to Carlyle. Meltzer Lippe landed work on the second-largest deal of the week, the $269 million purchase of a Ninth Avenue, Manhattan, property by a Taconic Investment Partners venture.

Seyfarth Shaw LLP, DLA Piper, Shearman & Sterling LLP and various additional law firms helped with out with other of the week’s largest deals.

While a Queens sale took the top of the list, the rest of the transactions involved Manhattan properties.
On the largest deal of the week, for 23-01 42nd Road in Queens, Carlyle looked to Sarah Green at Simpson Thacher for counsel, while Dechert’s David Forti helped MetLife Real Estate Lending with the $179.8 million loan to Carlyle.

The property is located in Long Island City, close to subway stops for the E, F, R and 7 trains.

Sell-side counsel information was not immediately available, and lawyers at Simpson and Dechert who worked on the transaction couldn’t be immediately reached for comment Monday.

The second-largest deal of the week, which had been rumored earlier this month, saw a Taconic Investment Partners venture buy 440 Ninth Ave. in Manhattan for $269 million, with Taconic advised by Gary Meltzer of Meltzer Lippe.

Taconic teamed up with TH Real Estate for the purchase, and TH had help from Seyfarth Shaw.

Seller Unizo was advised by DLA Piper. MetLife Real Estate Lending provided financing on this deal as well, looking to Malcolm Montgomery at Shearman & Sterling for counsel.

In addition to guiding Taconic, Meltzer also represented the buyer joint venture on the purchase and helped the venture on financing matters as well.

The property is located near Penn Station, just east of Hudson Yards.