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Allied Partners Acquires Historic Brill Building at 1619 Broadway
- Client News
- June 11, 2013
Practices
Paul, Weiss client Allied Partners, in a joint venture with Brickman Real Estate, acquired the historic Brill Building on Broadway and 49th Street from Stonehenge Partners and Invesco Real Estate. The venture financed the acquisition with a preferred equity investment from Square Mile Capital and mortgage and mezzanine loans provided by Starwood Property Trust. The venture plans to reposition the asset largely through significant upgrades and lease up of the retail space on Broadway.
The Paul, Weiss team consisted of real estate partners Steven Simkin, Peter Fisch, Mitchell Berg and Salvatore Gogliormella and counsel Andrew Wurzburger. The transaction was delayed and almost derailed through litigation over control of the venture. The Paul, Weiss litigation team included partner Maria Vullo.