Tannenbaum Helpern Syracuse & Hirschtritt, LLP
About Us Careers Contact Us Search
Home Practice Areas Industries Case Results Attorneys Publications Events Press Room

Long-Term Ground Lease to Prominent Manhattan Developer

Case Title: Long-Term Ground Lease to Prominent Manhattan Developer
Practice Area: Real Estate, Construction and Environmental Law 
Case Desc: Tannenbaum Helpern's Real Estate group represented the owners of an apartment building on Manhattan’s Upper West Side in connection with a 99 year ground lease to a major New York City developer of large-scale residential projects in Manhattan. The developer, after vacating and demolishing the existing building, intends on constructing a 30+ story first-class, residential apartment building. Tannenbaum Helpern assisted the property owners in structuring the transaction, and drafted and negotiated the ground lease. The transaction involved several complex and unique terms, including rights to continue to control apartment units until demolition, options to lease rental units (or acquire cooperative units, if the building is converted to a cooperative form of ownership) upon completion of the new building, and guarantees from the developer’s principal and letters of credit to insure rental payments and lien free completion of construction.
Attorney(s): David S. Handsman, Robert E. Helpern 
Industry: Real Estate 
Like us on FaceBook Follow us on Twitter Get LinkedIn with us Pin It! Email Us Print this Page

Sitemap |Terms of Use | Privacy | Attorney Advertising

Tannenbaum Helpern Syracuse & Hirschtritt LLP provides legal advice only to individuals or entities with which it has established an attorney-client relationship and such advice is based on the particular facts and circumstances of each matter. Contacting us through this site, or otherwise, will not establish an attorney-client relationship with us. Any e-mail or other communication sent to THSH or its lawyers through this site will not be treated as subject to the attorney-client privilege or as otherwise confidential and you should not include any confidential information in any such communication.