Cadwalader Advises New York REIT in Sale of 50 Varick Street

Aug 09, 2017

Contact(s)

Kimberly Brooks
New York
+1 212 504 5652
kimberly.brooks@cwt.com
Ron Brandsdorfer
New York
+1 212 504 6712
ron.brandsdorfer@cwt.com

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.

CadwaladerNews

CadwaladerSpotlight

June 27: SFIG Legal Counsel Forum 2018

Partners Scott Cammarn and Neil Weidner will be speaking at this event in New York City.

Cadwalader's research and intelligence platform provides analysis on changes in U.S. financial regulation. Subscribers receive a daily newsletter interpreting new laws, rules and enforcement actions that impact financial institutions.