Wallace L. Schwartz, head of Kasowitz’s Real Estate - Transactional Practice Group, is active in all aspects of the firm’s real estate practice, including real estate development, acquisitions, leasing, partnerships and joint ventures, capital markets and financings, gaming and lodging, workouts and restructurings, and real estate funds.
Wally has repeatedly been selected for inclusion in Chambers USA, The Legal 500, Best Lawyers in America, and Super Lawyers. He has also been listed in Legal Media Group’s Guide to the World’s Leading Real Estate Lawyers, The International Who’s Who of Real Estate Lawyers, and recognized among Avenue Magazine’s “Legal Elite.”
Wally has spoken at several real estate forums including the 2013 REBNY Lease Negotiation Seminar, and served as chair of the PLI Program, "Commercial Real Estate Workouts and Restructurings in 2010."
Prior to joining Kasowitz in 2011, Wally was global head of the real estate group at Skadden, Arps, Slate, Meagher & Flom LLP.
Acquisition and Development
- Rockpoint Group in the $465 million acquisition of an office building located at 1700 Broadway in Manhattan.
- New Valley/Witkoff Group in the acquisition, joint venturing, financing and development of a mixed-use retail, signage and hotel project known as Times Square Gateway Center, at 701 Seventh Avenue, New York City.
- Paramount Group Real Estate Fund in the $1 billion sale of the Deutsche Bank headquarters building at 60 Wall Street in Manhattan.
- Blackstone Group in the acquisition of The Shops at SkyView Center in Flushing, Queens.
- The Related Companies in the equity joint venturing of a 1,200 acre master development community in Tuxedo, New York, and the joint venture development of a $200 million mixed-use residential project at 909 Half Street in Washington, D.C.
- Starwood Capital Group in the acquisition of the leasehold interest at 1372 Broadway, New York City.
- New Valley in the joint venture acquisition, financing and development of a high-end condominium and hotel project in West Hollywood, California.
- Starwood Capital Group in the acquisition and participation of mezzanine debt, and the acquisition, as mezzanine lender of senior debt in default.
- New Valley in connection with a joint venture to acquire mortgage debt secured by a portfolio of California office buildings and a joint venture to acquire a multi-family portfolio in Maryland.
- Kalimian Family Trust in obtaining $250 million in highly structured mortgage and mezzanine financing on a multifamily rental building in Manhattan.
- The Related Companies in the mortgage and mezzanine construction financing of the Hilton West Palm Beach in Florida.
Gaming and Lodging
- The Related Companies in the sale of Snowmass development properties, including the Viceroy hotel and condominium project in Snowmass Village, Colorado.
- Penn National Gaming in connection with the Plainridge Park Casino, a $225 million integrated racing and gaming facility located in Plainville, Massachusetts; and proposed gaming projects in New York, Maryland, Pennsylvania and California.
- New Valley/Witkoff Group in the joint venture acquisition of the Park Lane Hotel in New York City.
- Intercontinental Hotels Group in connection with the Crowne Plaza Hotel in Times Square.
- Morgans Hotel Group in connection with management agreements at properties in New York, Massachusetts and Florida.
- DLJ Real Estate Capital Partners in the development of a boutique hotel in Lower Manhattan.
Landlord Representation/Office and Retail
- The Related Companies/Oxford Properties in connection with the one million-square-foot Retail Project at Hudson Yards, including the 250,000-square-foot lease to anchor tenant Neiman Marcus.
- Boston Properties in connection with 250 West 55th Street, 399 Park and 601 Lexington Avenue, New York, New York.
- Forest City Ratner in connection with One Pierrepont Plaza and 1 MetroTech Center in Brooklyn, New York, and Westchester’s Ridge Hill shopping center.
- WeWork in connection with leases in Manhattan and Long Island City.
- Microsoft in connection with its New York City headquarters lease.
- Société Générale in connection with its New York City headquarters lease.
- Major League Baseball Properties, Inc. in connection with the MLB Network broadcast studio space in Secaucus, New Jersey.
Workouts and Restructurings
- Borders Group with respect to the disposition of real estate assets throughout the country in connection with its bankruptcy and liquidation.
- Capital Trust in the restructuring of a mezzanine loan, and a mortgage loan secured by property located in Miami, Florida.
- DLJ Real Estate Capital Partners in the modification of mortgage debt secured by a resort hotel in the Caribbean.
- The Related Companies in connection with mortgage loans secured by properties in New York, Michigan and Florida.