Richard Sussman, Rosenberg & EstisNew York, NY Rosenberg & Estis, P.C. served as legal counsel to The Brodsky Org. LLC in a $250 million loan from Wells Fargo Bank NA. The transaction refinances 400 West 59th St. and 925 Ninth Ave. Richard Sussman, member; Patricia Cleary, of counsel; and Madeleine Karel, associate, of Rosenberg & Estis represented Brodsky. Deborah Franzblau of Blank Rome LLP represented Wells Fargo.
The 49-story 400 West 59th St., also known as One Columbus Place Tower, offers a total of 729 apartment units, along with office and retail space. The two towers were designed by Rosenwasser / Grossman Consulting Engineers, P.C, with construction completed in 1997.
The other property involved in the refinancing, 925 Ninth Ave., is landmarked and was once known as Syms Operating Theatre, a former St. Luke’s-Roosevelt Hospital Center facility where physicians could observe and learn from surgical procedures taking place there. The space is occupied by The Speyer Legacy School, which leases a total of 85,000 s/f of office space at the two properties.
The nonresidential portions of both buildings are operated as one property and were financed together with the residential portions.
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Founded in 1975, Rosenberg & Estis, P.C. is widely recognized as one of New York City’s pre-eminent real estate law firms. Rosenberg & Estis, P.C. represents clients in all aspects of real estate development, transactions, financing, litigation, rent regulation and governmental affairs.