Cadwalader represented New York REIT Inc. in the $135 million sale of 50 Varick Street, a creative studio and office space condominium located in the Tribeca neighborhood of Manhattan. In connection with the sale, New York REIT paid down $78.1 million of debt as required under the company’s $760 million cross collateralized and secured loan, for which the property was part of the collateral. New York REIT is winding down pursuant to a plan of liquidation.
The Cadwalader team was led by real estate partner Steven Herman and included special counsel Loren Taub, associate Andrea Weitzman and paralegal Erich Weber.
Richard Brand, Brian McGovern
Joseph Moreno, Anne Tompkins
Partner Chris Gavin will speak on a panel addressing "Securitization & Cash Execution."