This information is as of August 2012. For the most up-to-date list of experience or to suggest additions to this list, contact the Marketing Department.
IMPORTANT - Client and lawyer attributions are for internal use only.
Representative Experience
(Michele Arbeeny Nov 2011) Representation of a not-for-profit developer in the acquisition of various properties from the City of New York, as well as the pre-development and construction loan financings for such properties, to construct affordable residential housing units.
(Michele Arbeeny Nov 2011) Representation of a major U.S. national bank in numerous letter of credit transactions to support bonds issued by the New York State Housing Finance Agency, the proceeds of which were used to acquire, renovate and construct affordable low income housing projects throughout New York.
(via Jeanine Margiano Nov 2011) Currently representing a not-for-profit developer that owns a 220-unit affordable housing complex in New York City (via a nominee-structure utilizing a New York State Article XI housing development fund company and a New York limited liability company), in connection with the development, construction and rehabilitation of the project. The approximately $60M financing involves tax-exempt bonds to be issued by the New York State Homes and Community Renewal, as well as LIHTCs. The financing also involves negotiations with the NYC Department of Housing Preservation and Development in connection with obtaining a real estate tax abatement.
(Lenny LaBarbiera Nov 2011 bio, Jeanine Margiano) Representation of a not-for-profit developer in connection with a HUD 202 refinancing and rehabilitation of a senior housing apartment complex in New York City, including negotiating with the investor who acquired the LIHTC available to the project and negotiating with the bond issuer and letter of credit enhancer for the project debt financing.
(Michele Arbeeny Nov 2011) Representation of developer in the privatization of six state regulated public housing projects throughout New York. These transactions were financed through a combination of low-income housing tax credits and tax-exempt debt.
(Lenny LaBarbiera Nov 2011 bio) Representation of a developer in connection with the construction of 98 affordable housing units for senior citizens in Astoria, New York, including negotiating a development agreement and long-term ground lease with the not-for-profit entity which owns the project site, assisting the client in the LIHTC process, negotiating with the investor who acquired the LIHTC allocated to the project, and representing the client vis-a-vis the construction lender for the project.
(Lenny LaBarbiera Nov 2011 bio) Representation of an urban renewal entity in connection with the acquisition of a Section 8 supported senior citizen housing project in Newark, New Jersey containing 100 residences, including representing the acquiring entity in connection with the issuance of housing bonds to finance the acquisition as well as obtaining an assignment of the existing long term tax exemption on the property from the City of Newark.
(Lenny LaBarbiera Nov 2011 bio, Jeanine Margiano) Representation of a developer designated to construct a complex of 66 affordable townhouses and 100 affordable senior apartments and medical support facility in New Rochelle, New York, including the participation of both City and County governments in providing funding and in parcel assemblage.
(Lenny LaBarbiera Nov 2011 bio, Jeanine Margiano) Representation of a developer in connection with the acquisition and renovation of apartment buildings located in New York City containing 26 low income housing units, including negotiating with one of the United States' largest financial institutions which purchased the LIHTC allocated to the project.
(Lenny LaBarbiera Nov 2011 bio) Representation of a developer in connection with the construction of a 95 unit low and moderate income apartment complex located in Wayne, New Jersey, including preparation of the LIHTC application for submission to the New Jersey Housing and Mortgage Finance Agency, as well as review of construction loan and permanent financing documentation.
(Lenny LaBarbiera Nov 2011 bio) Representation of a developer involved in the construction of senior citizen housing in Cape May County, New Jersey, including negotiating a development agreement and construction management agreement with the not-for-profit owner of the project, as well as assistance in obtaining environmental approvals necessary to complete the project and a private letter ruling from the IRS to permit the buyer to obtain "step in the shoes" basis for rehabilitation expenditures incurred by the seller.
(Lenny LaBarbiera Nov 2011 bio) Representation of a developer in connection with the conversion of a former undergarment factory in Bayonne, New Jersey, to 60 senior-citizen apartments and an adult day care facility, including complex land use and ownership issues in that it required a use variance and a substantial number of cross-easements and access and parking agreements with the still-operational factory building to which it was attached.
(Lenny LaBarbiera Nov 2011 bio) Representation of a developer in connection with the conversion of a former department store in Plainfield, New Jersey, into 75 apartment units, with ground-floor retail space, an adult medical day care facility, an open air plaza and a large space for public use, including the use of LIHTC and thus necessitated the imposition of a condominium form of ownership for the project in order to divide the residential portion from the commercial and public portions.
(Lenny LaBarbiera Nov 2011 bio) Representation of a developer in connection with the construction of 19 low and moderate income housing units in Paterson, New Jersey, including negotiating a development agreement with the not-for-profit general partner involved in the project, assisting the client in the LIHTCs process, and negotiating with the large financial institution which acquired the LIHTCs allocated to the project.
(Lenny LaBarbiera Nov 2011 bio) Representation of a developer in connection with the development and construction of an assisted living facility on Long Island, New York, including assuring that the project met the requirements of New York State's licensing office for assisted living facilities without running afoul of the IRS's LIHTC requirements, and making sure that each of the units in the facility constitutes a "complete living facility" for purposes of tax-exempt financing requirements.
(Lenny LaBarbiera Nov 2011 bio) Representation of a major U.S. national bank as bond purchaser during construction of an affordable housing project, including review of the bond repurchase agreement as well as review of the Agreement for Interest Reduction Payments with HUD.
(Michele Arbeeny, Public Finance + NFP description Nov 2011) Represented a major financial institution, in connection with a $5 million participation in a $31 million letter of credit issued by a national bank for the account of a limited partnership, the proceeds of which were used to finance the construction of subsidized housing for low income people in Manhattan, New York.
(Public Finance + NFP description Nov 2011) Represented a national bank, in connection with the issuance of a standby-letter of credit supporting an $80 million New Jersey Home and Mortgage Finance Agency variable rate bond issue.
(Michele Arbeeny, Public Finance + NFP description Nov 2011) Represented a national bank, in the purchase of $46.5 million New York City Industrial Development Agency's tax exempt adjustable fixed rate civic facility revenue bonds in connection with a charitable organization's acquisition of a 77,000 square foot condominium located in Manhattan, New York.
(Real Estate – Development + Land Use description Nov 2011) Represented a non-profit development agency in connection with land acquisition, relocation, financing and construction for several redevelopment projects in New Jersey, including a renovated courthouse/apartment tower complex, a city and county office facility, a hotel/conference center/condominium project, a mixed-use complex with rental apartments, residential condominiums, university bookstore, offices for public and private entities, restaurants, retail space, supermarket, wellness center and parking garages, and a downtown university student dormitory. Projects included the use of certificates of participation (COPS), tax increment financing, tax abatements, New Markets Tax Credits, Low-Income Housing Tax Credits, Urban Transit Hub Tax Credits, and tax-exempt bond financing.
(Real Estate – Development + Land Use description Nov 2011) Represented a venture in connection with construction of a 58-story mixed-use project (commercial condominium units for "80-20" market plus affordable housing, special use, retail, and garage) in Manhattan's Madison Square Garden district. Included assemblage of the site and transferable development rights (zoning floor area), $176 million in tax-exempt bond financing, and $42.5 million in conventional loan financing, culminating a four-year process from RFP through closing.
(via Jeanine Margiano Nov 2011) Representation of a New York State Article XI housing development fund company which owns 47 units of affordable housing in New York City in connection with a $5 million dollar construction loan made by the New York City Housing Development Corporation through the issuance of its construction bonds. In connection therewith, we negotiated with the NYC Department of Housing Preservation and Development in connection with obtaining a real estate tax abatement.
(Commercial Litigation description Nov 2011) Represented the N.J. Sports and Exposition Authority in over 30 distinct, multifaceted legal challenges brought by environmental groups, affordable housing advocates, local municipalities, and commercial interests opposed to the Meadowlands Xanadu project, a proposed mixed use development consisting of a 520 room hotel, office towers, and a $2.4 billion sports, retail, and dining and entertainment center at the Meadowlands Sports Complex.
PENDING
(August 2012 - Pending conflicts clearance, Dan Pocchiari) Representation as local counsel to ORIX USA Municipal Investment in a loan to Seaview Senior Living Housing Development Fund Corporation.
Doc ID # 10707657