| Acquisitions, Sales and Development |
Woodside, New York – The Bullard Law Group represented an Illinois based development company in connection with its sale of a commercial building in Woodside, New York for a sales price of $22,750,000. The seller acquired the property approximately one year earlier simultaneously with its purchase of the adjacent lot, which adjacent lot is being developed into a self-storage facility by the seller. The sale included a lot line adjustment and the transfer of air-rights from the property sold to the adjacent lot owned by the seller to accommodate the seller’s development of a self-storage facility. The transaction also involved the modification of the seller’s construction loan and closed in early December in less than ninety days from contract signing.
New York, New York – The firm represented a foreign investor in connection with the acquisition of two (2) adjacent high-end rental buildings located on the Upper East Side for an aggregate purchase price of $16,500,000. The all-cash purchase closed on black-Friday and in less than 45 days from date of the contract.
Atlanta, Georgia – The Bullard Law Group represented a national automotive retailer in connection with its acquisition of 69 retail locations located in the Atlanta, Georgia metropolitan area as well as Western Florida for a sales price in excess of $100,000,000. The acquisition included the sale/leaseback of approximately 20 of the retail locations and closed in early 2018.
Westchester, New York – The firm represented a large self-storage company in connection with the sale of one of its operating facilities located in Westchester, New York to another large storage company. The sales price was $14,000,000 and the closing was completed within sixty days of contract execution.
| Finance |
The Bullard Law Group represented a Great Neck, New York based real estate company in connection with a $39,000,000 construction loan from the Bank of Ozarks. The loan will be used for the company’s development of an eighty-eight (88) unit, 94,360 square foot mixed-use residential building in Manhattan’s Lower East side.
The firm represented the owner/operator of multiple national quick service restaurants (QSR’s) in New York City in connection with the company’s refinance of an existing credit facility. The $8,000,000 new loan issued by City National Bank will be used to fund the construction and opening of new QSR stores in New York City. The loan closed in the 4th quarter of 2018 and is secured by the assets of approximately twenty (20) QSR stores in New York City.
| Leasing |
Long Island City, New York – The Bullard Law Group represented the landlord in connection with a twelve (12) year lease of an industrial warehouse building located in Long Island City to a New York based same-day delivery service company. The lease was negotiated on an expedited basis to accommodate the tenant’s expanding business and the need to move quickly.
New York, New York – The firm represented the landlord in connection with a ten (10) year lease for approximately 3,200 square feet of retail space in Midtown Manhattan to a franchise fitness concept. The lease was negotiated and finalized in less than two (2) weeks, with the parties signing the lease on New Year’s Eve.
Long Island, New York – The Bullard Law Group represented the owner/operator of a gas and convenience service station in connection with the sale of the operating business and a lease of the property to a larger gas station/convenience store operator. In order to accommodate the parties’ request to finalize the transaction prior to the end of 2018, both agreements were negotiated in a few weeks and executed on New Year’s Eve.