May 29, 2020
Cadwalader represented the administrative agent and lender in an $87.9 million pre-development loan, comprising a senior loan, building loan and project loan, in connection with the acquisition of a significant development site on the Williamsburg waterfront with a phased land acquisition. This transaction has been reported by the news media to be the largest land transaction in New York City since the outbreak of the coronavirus pandemic.
The Cadwalader team was led by Finance partner Steven Herman and included special counsel Loren Taub and associates Parker Ihrie and Alessandra LaRocca.
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