December 2021 – A Banner Month for the Farrell Fritz Real Estate Department

December 2021 ended as one of the busiest transactional months the Real Estate Department has ever enjoyed.  Real Estate attorneys closed numerous significant purchase and sale, financing and economic development transactions, many of which will transform the current Long Island marketplace.  While 2022 promises to be another busy year, this truly unique month’s work deserves to be appreciated.

Among the specific transactions are the following:

• Dave Curry and Peter Curry represented the Seller of a Long Island Golf and Country Club in a purchase and sale agreement and lease, permitting the course to be modified and operated while the Seller retained development rights over a portion of the original Club
• Peter Curry represented the owner of an approximately 271 acre parcel abutting the Long Island Railroad in Yaphank, New York in a 15-year Brookhaven IDA straight lease transaction in connection with the construction of approximately, 2,500,000 square feet of commercial buildings
• Damian Racanelli and Peter Curry represented the purchaser of two industrial properties containing approximately 435,000 square feet of distribution buildings in Bay Shore, New York
• Peter Curry represented the developer of a 101,000 square foot hotel in Farmingdale, New York in obtaining benefits from the Babylon IDA
• Jeff Levin represented lenders in six mortgage transactions totaling approximately $165,000,000
• We represented the seller of a 2 acre development parcel in Garden City, New York, to Carvana
• Peter Curry represented the seller of a 71-acre industrially-zoned parcel in Yaphank, New York, for $44,000,000
• We represented lenders and borrowers in mortgage transactions aggregating $37,000,000
• Our East End office represented buyers and sellers in 10 closings aggregating $26,750,000
• Jim DeVarso (retired) and Jeff Levin represented a major New York City landlord in the $42,500,000 refinancing of a hotel and golf course in Rye Brook, New York
• Damian Racanelli and Peter Curry represented the seller of a day camp in Dix Hills, New York, for eventual redevelopment into housing
• Kylie R. Springs, Peter Curry and Dave Curry represented developers in separate transactions before three different Industrial Development Agencies in obtaining economic benefits to construct 641 units of rental housing, of which 136 units will be affordable or workforce housing
• Dave Curry represented the ground lease tenant in a 75-year ground lease to develop a self-storage facility
• We represented the purchaser of five Jiffy Lube sites in the Kansas City, Missouri, metropolitan area