Daniel A. Devine

Dan prides himself on providing pragmatic legal counsel to help his clients achieve their desired outcome in sophisticated, complex real estate transactions.

Sales and Acquisitions:

• A developer in connection with the assemblage of a development site in the Old Town neighborhood of Chicago, IL, and anticipated redevelopment into a residential apartment complex with a retail component.
• The sellers in a $66 million sale of a residential apartment building in Midtown Manhattan and a $32 million sale of an assemblage of mixed-use buildings on the Upper East Side of Manhattan.
• A New York real estate family in connection with the buy-out of a 50% limited partner in multiple Midtown Manhattan office properties and the recapitalization of the deal with new equity and financing.
• An insurance company in connection with an investment in a limited liability company to acquire and redevelop property in the Wynwood neighborhood of Miami, FL.

Financing:

• Developers in connection with construction financing for condominium and hotel development projects in New York, NY and Miami, FL.
• A real estate developer in connection with the negotiation and closing of a loan workout and recapitalization for a hotel property in Brooklyn, NY during the COVID-19 pandemic.
• An insurance company lender in connection with the negotiation and closing of a discounted payoff agreement in connection with a loan secured by a condominium project in Manhattan.
• A preferred equity investor in connection with its investment in limited liability companies that controlled the development of mixed-use projects in opportunity zone areas in New York, NY.

Ground Leasing:

• A real estate developer in connection with the ground leasing of property in Times Square and its anticipated redevelopment as a hotel.
• A property owner in connection with a ground lease of a development site on the West Side of Manhattan, including the transfer of unutilized floor area development rights from an adjoining property.

Distressed Debt:

• A real estate investment fund in the acquisition of distressed debt secured by various types of real estate; transactions have included both the acquisition of senior secured mortgages and the later acquisition of the underlying real estate through enforcement of the loan documents and negotiation and delivery of a deed-in-lieu of foreclosure.