AREAS OF PRACTICE

Adam Leitman Bailey, P.C. Assists Luna Park in Closing on $68 Million Loan & Grants; Cooperative Obtains Record $21 Million Grant from City, State and Federal Government
Representing the second largest cooperative in the entire world, Luna Park Housing Corporation needed $68 million in connection with a major capital project that includes replacing all of the brick facades throughout the entire project, replacing all windows with new energy efficient windows, and replacing all of the building's roofs.  Adam Leitman Bailey, P.C. was hired not only to represent the corporation in closing the largest loan in New York that year but he had worked with City, State and National governmental officials to obtain grants.

Despite many obstacles, the corporation received $47 million from Wells Fargo Bank in the form of a 30 year mortgage and government grants in the amount of 21 million dollars setting a record for public grants for such a project.  Adam Leitman Bailey and Leonard Ritz represented Adam Leitman Bailey, P.C. for all matters involving the project.

West 34th Street
Adam Leitman Bailey, P.C. represented tenant in negotiation of lease for  7,200 sq. ft. office and studio space on West 34th Street.

West 173rd Street

Adam Leitman Bailey, P.C. represented the seller in a short sale of a building for $700,000.

East 111th Street

Adam Leitman Bailey, P.C. represented the purchaser in acquisition of a non-performing loan and building for $3.2 million.

Kenmare Street

Adam Leitman Bailey, P.C. represented the owner in a refinance of $5.275 million loan and subsequent sale of the building for $9.5 million.

31st Street

Adam Leitman Bailey, P.C. represented the purchaser in acquisition of a 3 story townhouse on 31st street for $2.995 million.

Wooster Street

Represented purchaser in acquisition of $3.575 million mixed-use building on Wooster Street.

Retail Store on Hudson Street
Guy Arad represented the tenant in a retail lease for high-end salt, chocolate and flower store on Hudson Street.

60 East 42nd Street
Guy Arad represented the tenant in the renewal of an office lease of approx. 1,445 rsf for accounting firm at 60 East 42^nd Street.

Audubon Avenue
Guy Arad represented the purchaser of a 6-story apartment building (39 residential apartments) on Audubon Avenue for $3,625,000.

Adam Leitman Bailey, P.C. Completes 150-Year Ground Lease for Tribeca Condominium Development

Deal Details:
150-year ground lease
137 Franklin Street a/k/a 200 West Broadway
Approx. 2,000 sq. ft. vacant lot on southwest corner of Franklin Street and Varick Street
Intended use: approx. 10,000 sq. ft. residential building
Landlord: 137 Franklin Street Realty LLC
Landlord's counsel: Adam Leitman Bailey, P.C., by Guy Arad, Esq.
Tenant: REEC 137 Franklin Street LLC
Principal: Brandon Miller
Tenant's counsel: Bryan Cave LLP, by Bradford B. Lavender, Esq.
Broker: New York Commercial Realty Services, by James Famularo
The closing of the transaction took place on May 11, 2010

High Line
Guy Arad represented the purchaser of a 25' x 98.75' / 2,469 sf (18,515 bsf) development site for $4,240,000 on West 23^rd Street near the High Line.

Joint Venture Development
Guy Arad representated the owner in a joint venture development project of approx $75,000,000 for conversion of office building at 38^th Street into an 11-story, 4-star, 197-room hotel.

1st Avenue
Guy Arad represented the guardian for the owner of a building in a 49-year ground lease at 1^st Avenue.

370 Lexington Avenue

Guy Arad represented the tenant in office lease of approx. 2,300 rsf for venture capital firm at 370 Lexington Avenue.

620 8th Avenue
Guy Arad represented the tenant in an office lease of approx. 6,500 rsf for investment/brokerage firm at 620 8^th Avenue.

225 Park Avenue South

Guy Arad represented the tenant in an office sublease of approx. 17,450 rsf for investment/brokerage firm at 225 Park Avenue South.

901 Broadway

The five-story, mixed-use, beautifully restored, cast-iron building at 901 Broadway has been sold for $24.6 million, or $1,716 per square foot. The landmarked, 14,336-square-foot building, was the original home of the Lord & Taylor Dry Goods Store, and has stood in the Flatiron District for 142 years.

Guy Arad, a partner at Adam Leitman Bailey P.C., represented the buyer, an entity owned by a private investor.

19 Kenmare Street
Representation of buyer in acquisition of building located on Kenmare Street, the building housing neighborhood institution (and onetime mobster hangout) Little Charlie's Clam Bar, consisting of approximately 5,000 square feet of retail/commercial space and 15 residential apartments; subsequent representation of owner/landlord in lease of approximately 5,000 square feet of space for restaurant.

44-46 East End Avenue
Representation of buyer in acquisition of building located on East End Avenue consisting of 30 residential apartments.

170 Elizabeth Street
Representation of buyer in acquisition of building located on Elizabeth Street consisting of retail/commercial space and 3 residential units.

West 37th Street
Representation of seller in sale of 2 commercial condominium units located at West 37th Street.

179 Ludlow Street
Representation of buyer in acquisition (through seller's bankruptcy) of partially constructed building located on Ludlow Street consisting of approximately 6,200 square feet of retail/commercial space and 5 residential apartments.