Stuart M. Saft

Stuart M. Saft, practice group leader of Holland & Knight's New York Real Estate Practice Group, co-chair of the firm's global Condominium Development and Conversion Team, and former co-chair of the firm's Hospitality, Resort and Timeshare Group, has extensive experience in the development, financing, leasing, conversion-to-condominium and cooperative ownership, exchange, syndication, sale-leaseback, timeshare, restructuring, acquisition and sale of residential, commercial and hospitality property throughout the United States. Mr. Saft also represents borrowers and lending institutions in mortgage lending and workouts.

Mr. Saft is the former chair of the board of directors of the National Cooperative Bank and the New York City Workforce Investment Board. Mr. Saft has written 44 books on Commercial Real Estate and more than 100 articles on real estate, economics and finance. Mr. Saft also is the author of the three-volume "Commercial Real Estate Workouts," which is in its third edition and published by Thomson Reuters Westlaw, and chaired four webinars on the impact of Russian sanctions on New York City Real Estate and lessons learned from the Surfside collapse.

In addition, Mr. Saft has extensive experience with matters involving the New York State Attorney General, foreign investors, leasehold condominiums and planned unit developments.

Representative Matters

• Representing the developer of the flagship Aman Resorts and Residences in the Crown Building, the flagship Mandarin Oriental Residences, The One High Line Condominium containing two residential towers and a resort on the High Line
• Represented the developers of the flagship Baccarat Hotel & Residences in New York, the Downtown W Hotel and Residences, as well as The Bryant Hotel and Residences in Bryant Park
• Adaptive Reuse of 730 Fifth Avenue, 685 Fifth Avenue, 212 Fifth Avenue and portions of several other office buildings into residential and mixed use, Shopping Centers into Medical Facilities, and factories and warehouses into Charter Schools, Clinics, Homeless Shelters
• Represented the developer of the Four Seasons Resort and Residences Anguilla
• Represented the sponsor in the reconstruction and sale of condominium units in the five landmarked buildings comprising Manhattan House encompassing an entire block in Manhattan
• Represented the developers of the Evité Hotel and Residences, The Setai-New York Residences, the Miraval Living Spa and Residences, and the developer of Morton Square, a mixed-use development encompassing an entire block of Manhattan
• Represent the developer of a 150 acre Equestrian Center and the owners of one of the most successful breeding and racing operations in the country
• Representing the developer of the Oosten, a residential development encompassing an entire block in Williamsburg, a two-acre, 1 million-square-foot mixed-used complex in Brooklyn containing three residential towers, retail and parking on the East River, a 60-story tower on the East Side of Manhattan, as well as The Residences at Brooklyn Point, Bloom on 43rd, The Residences on Tenth Avenue, 212 Fifth Avenue, 277 Fifth Avenue, 347 Bowery, 45 East 22nd Street, 45 Park Place, 11 Beach Street, 21 East 12th Street, Soho Tower and One Beekman Street
• Represented the developers of the following mixed-use condominiums: Halcyon, Cielo, ThreeTen East 53rd Street, The Residences at Jefferson Place, Centria, Atelier, 66 East 11th Street, 419-421 Broome Street, 152-154 Spring Street, 78 Irving Street, 325 West Broadway
• Represented the sponsors of the conversion to condominium ownership of The Belnord, 737 Park Avenue, 150 East 72nd Street, The Sheffield, 515 East 72nd Street, The Apthorp, 254 Park Avenue South, 11 East 68th Street, 200 East 62nd Street, 36 Gramercy Park East and 478-480 Central Park West, 275 West 10th Street, Austin Nichols and Merritt House
• Represents The Carlyle Hotel,The Pierre Hotel, and Trump International Hotel and Tower as general counsel
• Represented the lenders in analyzing and making construction loans for 10 Sullivan Street, 432 Park Avenue, 30 Park Place, 520 Park Avenue, 235 West 75th Street, 88 Lexington Avenue, 90 Lexington Avenue, 301 West 53rd Street, 15 Hudson Yards, 35 Hudson Yards, Central Park Tower, 160 Leroy Street, 125 Broad Street, 147-151 East 86th Street, Times Square Tower, 281 Fifth Avenue
• Represented the fee owner or nonprofit entity in the formation of the following leasehold condominiums: 555 10th Avenue, 220 East 42nd Street, 498 Seventh Avenue, 162 Fifth Avenue, 2108 Adam Clayton Powell Avenue, 224 West 57th Street, Lexington Avenue, Jamaica Avenue in Queens, eight sites for hospital expansion in Manhattan, Nassau and Suffolk counties, a seven-story campus expansion for a university
• Represented the developers of the following rental developments: 160 Madison Avenue, 7 West 21st Street, 210 Lexington Avenue, 250 Ashland Avenue, 214 East 44th Street, 21 West End Avenue, 900 Eighth Avenue, 504 Myrtle Avenue, 1865 Broadway, 100 Willoughby Street, 1865 Broadway, 1600 Sheepshead Bay Road, 532 Neptune Avenue
• Represented the developer of a 105-acre urban renewal project anchored by a park and urban farm
• Represented the purchasers of the top third of the Woolworth Building for conversion of office space to residential
• Represented the owners of Columbus Park Tower, Southbridge Towers and East Midtown Plaza in the privatization of Mitchell-Lama housing complexes
• Represented the developer rehabilitating a theological seminary with a residential tower in the middle
• Represented the investors in purchasing a package of 18 apartment buildings
• Represented a pension fund in purchasing office buildings, mixed-use and residential properties throughout the United States
• Represented General Motors in the pre-bankruptcy analysis of its global real estate holdings
• Analyzed a global insurance company's real estate holdings in 65 countries as part of MetLife's $18 billion corporate acquisition of AIG's foreign holdings
• Represented Deutsche Bank in the acquisition of 75 packages of multi property CMBS transactions
• Represented the owners in the purchase or sale of development rights for One57 Condominium Residences, 124 West 24th Street and Soho Tower
• Negotiated headquarters lease for a global insurance company
• Represented the owner in the $180 million debt restructuring of The Setai-Downtown
• Represented the owner in a $370 million debt restructuring of luxury multiuse property in New York City
• Represented a holder of senior debt in a $300 million debt restructuring of a hotel development property in Las Vegas
• Represented the developer in the debt restructuring of a Las Vegas hotel and development site
• Represented a German insurance company in a debt restructuring of hospitality property in Las Vegas
• Represented Hyatt Senior Living in the development and operation of continuing care retirement communities
• Represented the owner in a $680 million senior debt restructuring on a mixed-use property
• Represented the owner of a mixed-use property in restructuring $300 million in senior and mezzanine debt
• Represented an investor in the acquisition of senior debt and foreclosure of junior mezzanine debt on multiple properties
• Represented Aetna Life Insurance Company and Chase Bank in construction and permanent financing of shopping centers and office buildings throughout the U.S.
• Represented the owners in a $220 million financing and reconstruction of 11,000 apartments in the Parkchester section of the Bronx with tenants in place
• Represented a proponent of Chapter 11 reorganization and then completed construction of the 75-story, mixed-use Cityspire building
• Represented the owners in a loan workout and completed construction of Worldwide Plaza, Park Avenue Court, and The Boulevard mixed-use development
• Represented the owners in a $475 million refinancing and reconstruction of Co-Op City, the largest housing complex in the U.S., containing 16,000 apartments, five garages and three shopping centers
• Served as counsel in the loan restructuring of Hyde Park Gardens, involving 26 lending institutions
• Represented the owners of more than 100 properties leased to Kmart Corporation in Kmart's original Chapter 11 reorganization
• Represented a women's clothing retailer in a Chapter 11 reorganization
• Represented the owners in workouts of more than 70 properties in multimillion-dollar mortgage defaults
• Advised Fannie Mae and Freddie Mac on lending requirements and workouts
• Represented the owners in the acquisition and syndication of more than 100 shopping centers, hotels and office buildings throughout the U.S.
• Represented the owners of The Plaza, Olympic Tower, One Wall Street, Greenwich Club Residences, Astor Terrace, Two Fifth Avenue, Co-Op City, Tudor City, Lincoln Towers, Carlyle House, Hampton House, The Vermeer, The Whitehall, Chelsea Mercantile and others in the operation of their properties