Nicholas P. Melillo

Experience

Financing

• Regularly represent Centennial Bank in complex acquisition, construction, predevelopment, and condo inventory loans in New York City and throughout the country, including mezzanine and participation facilities for all property types. Note the following recent transactions:
  • $132 million construction loan facility used to finance the infrastructure and horizontal improvements for a multi-phase, approximately 68-acre master planned residential community development in Sleepy Hollow, New York, which includes the development of condominiums, townhomes and apartments, a boutique hotel, substantial retail and office space, municipal dedications of parkland, and included substantial environmental review, an IDA leaseback structure and other unique matters;
  • $65 million acquisition and predevelopment loan for a multiple parcel development comprised of a former pharmaceutical manufacturing site in Brooklyn, New York, which involved complex environmental and litigation issues;
  • $42.5 million revolving credit facility to finance the infrastructure and horizontal improvements for a multi-phase, approximately 2,000-acre master planned community development on the Potomac River in Potomac Shores, Virginia. The project included bond and letter of credit features, and municipal entitlements to assist in the development of the major community infrastructure, which is anticipated to consist of nearly 4,000 homes, a town center, two schools, an 18-hole signature golf course, a marina and waterfront village, a resort hotel, a corporate campus, sports fields and courts, a new Virginia Railway Express train station and nearly two miles of shoreline;
  • $30 million acquisition and predevelopment loan for a multiple parcel site in Brooklyn, New York, which involved mezzanine financing, environmental remediation and Brownfield Tax Credits and other environmental issues;
  • $29,675,000 acquisition and predevelopment loan for a multiple parcel site in Bronx, New York, which involved mezzanine financing, environmental remediation and Brownfield Tax Credits and other environmental issues; and
  • $40 million acquisition and construction loan for a development in New York City, which included mezzanine financing.
  • Modification of a $53 million construction loan facility and the addition of a $27 million mezzanine loan for the development of a mixed-use project located in Brooklyn, New York, which included several intercreditor and co-lender issues.
  • $22.5 million acquisition and pre-development loan for a development project located in Brooklyn, New York, which involved environmental remediation and Brownfield Tax Credits, complex zoning and planning issues, litigation concerns and settlement holdbacks, development restrictions, complex title and mortgage issues, multiple equity pledges, Opportunity Zone dynamics, and other unique concerns.
  • $18 million acquisition and pre-development loan for a development project located in Brooklyn, New York, which involved environmental remediation and Brownfield Tax Credits, complex Gowanus district re-zoning and planning issues, litigation concerns and settlement holdbacks, development restrictions, complex title and mortgage issues, multiple equity pledges, Opportunity Zone dynamics, and other unique concerns.
  • $65 million condo inventory loan for a condominium project located in New York, New York.
• Regularly represent KeyBank National Association in commercial mortgage loans in New York and around the country, including:
  • Recent $20 million bond redemption and mortgage loan facility secured by several properties in Queens, New York;
  • $28.8 million mortgage loan facility secured by an apartment housing community in Ohio, which included holdbacks for repairs, leasing commissions and tenant improvements;
  • $14.125 million mortgage loan facility secured by an apartment housing community in Ohio, which included holdbacks for repairs, leasing commissions and tenant improvements; and
  • $5.2 million mortgage loan secured by a property in Hempstead, New York, which included a sale-leaseback structure with the Town of Hempstead Industrial Development Agency.
• Recently represented Bank Leumi USA in several transactions, including a $47.5 million construction loan for a development parcel in Brooklyn, New York, and a $13.8 million land loan for a property in Bronx, New York.
• Recently represented Iron Horse Credit LLC in connection with a $5 million bankruptcy exit facility to multiple borrowers in connection with a 1,000+ acre mixed-use development on the Big Island of Hawaii.
• Recently represented a life insurance company in a $15 million participation in a commercial mortgage loan secured by multiple office properties in Stamford, Connecticut.
• Represented Bank of America N.A. as lender and administrative agent in several syndicated club transactions with various financial institutions (including Capital One, National Association, HSBC Bank N.A. and Deutsche Bank), including $300 million, $163.5 million and $18 million credit facilities with revolving line of credit, term loan and letter of credit features, secured by various commercial and residential real estate in New York and Connecticut, art, and general business assets.
• Represented HSBC Bank USA National Association in an $80 million refinance of the Warwick New York hotel in Manhattan.
• Represented an institutional lender in a $48.5 million building and project loan facility for a commercial building in New York City.
• Represented U.S. Bank, National Association in several hotel financings for hotels in New York City, including a $70 million refinance of the Sheraton Brooklyn New York Hotel, a $45 million refinance of the Hampton Inn Manhattan Soho, and a $50 million refinance of the Four Points by Sheraton® Manhattan Chelsea hotel.
• Represented Fifth Third Bank in connection with a $15.5 million construction loan facility for a shopping center on Long Island, New York, which included substantial negotiation and complexities concerning the developer’s national wholesaler tenant.
• Represented a real estate developer as borrower in a $110 million mortgage loan and $50 million mezzanine loan with Ares Capital Corporation for a building on Madison Avenue in New York City.
• Represented an institutional lender in a $30 million credit facility, including a term loan, building loan and leasing improvement facility, secured by a commercial building in New York City.
• Represented an institutional lender in connection with a $50 million first, second and third mortgage transaction and related line of credit, including subsequent modifications and the sale of participating interests.
• Represented a real estate developer as borrower in connection with the refinance of the St. Regis Hotel in Deer Valley, Utah, with Guggenheim Life Insurance Company, comprising a $26.5 million mortgage loan, $21.35 million condo inventory loan and $11.65 million mezzanine loan.
• Acted as United States special counsel in a €150 million facilities transaction, including review and negotiation of mortgages and pledge agreements for United States collateral, and preparation of United States opinion letter.
• Represented an institutional lender in several construction loans in New York City and throughout the country, including $65.25 million, $40 million, $37.5 million, $30 million, $24 million and $15.5 million loans for various property types, many of which included mezzanine financing and the negotiation of intercreditor agreements and related documents.
• Represented an institutional lender in a $24 million construction loan and $30 million converting term loan facility for the construction and development of an exclusive club in the Soho neighborhood of New York City.
• Frequently acts as local New York counsel in various construction loans for properties in the State of New York.
• Represented an institutional lender in a $26.7 million mortgage loan in connection with the acquisition of commercial property and development rights in New York City.
• Represented a real estate developer as borrower in a $22 million mortgage loan refinance and Industrial Development Agency (IDA) lease restructuring with Natixis Real Estate Capital secured by commercial properties in Nassau and Suffolk counties, New York.
• Represented a real estate fund in several construction loans in New York City, including $18.5 million, $18 million and $15.3 million loans, which included the origination of such loans and the sale of participation interests to institutional lenders.
• Represented a real estate company as borrower in connection with the defeasance of a $39.6 million securitized loan, new $45 million mortgage loan and $15 million mezzanine loan with Genworth Life Insurance Company and M&T Bank, including IDA lease restructuring.
• Represented an institutional lender in a $12.8 million refinance of an apartment complex in Las Vegas, Nevada.
• Represented an institutional lender in an $18 million construction loan for a residential condominium building in Miami, Florida.
• Represented an institutional lender in a $15.5 million building and project loan facility in connection with the renovation of a commercial building in New York City.
• Represented an institutional lender in a $16 million acquisition and building loan facility.
• Represented an institutional lender as lender in a $25 million revolving credit facility secured by various commercial and residential properties in New Jersey, Florida and Kentucky.
• Represented an institutional lender in a $9 million senior secured bridge loan secured by commercial property in New York City.
• Represented an institutional lender in a $10 million asset-based revolving credit facility to related accounting firms, including subsequent amendments, secured by business assets.
• Represented an institutional lender in a complex leasehold mortgage transaction covering several properties on the “Museum Block” of the South Street Seaport Historic District, including coordination with the New York City Industrial Development Agency (NYCIDA) in connection with a prior sale and leaseback transaction.
• Represented an institutional lender in a $16 million complex refinance transaction concerning four funeral homes located in the New York metropolitan area and various related entities, including an interest rate swap transaction.
• Represented Bank of America N.A. in connection with the modification, amendment and restatement of a $25 million working capital revolving credit facility and a related $10 million revolving credit facility, with term loan and mortgage features, issued to affiliated nonprofit corporations and used to fund acquisition and startup costs for group homes in the state of New York.
• Represented an institutional lender in connection with the modification, amendment and restatement of a $35 million revolving credit facility with a national delicatessen supplier, including term loan and letter of credit features.
• Represented Bank of America N.A. as lender in a $25 million asset-based revolving credit facility, including letter of credit and converted term loan features.
• Represented an institutional lender in a $15 million mortgage loan transaction covering various properties located in New York and Suffolk counties, including subsequent modifications and re-lease agreements.
• Represented an institutional lender in a $6 million term loan and revolving credit facility to affiliated restaurant operations secured by pledge and security interests in corporate and membership interests of affiliated companies.
• Represented an institutional lender in connection with the issuance of a substitute letter of credit securing NYCIDA Civic Facility Revenue Bonds.
• Represented an institutional lender in connection with a $7 million uncommitted advised line of credit to restaurant proprietors at Mohegan Sun resort and casino in Uncasville, Connecticut, including review of related management and leasing agreements.
• Represented a financial institution in a merger with another financial institution, and thereafter in a merger with a Spanish banking group, including a detailed review of the client’s existing real estate portfolio and related transfer tax consequences.
• Represented a financing services company in a complex loan workout including the drafting and negotiation of a deed in lieu of a foreclosure agreement requiring the transfer of title of an apartment building and several co-op units in the city of New York.
• Represented an institutional lender in connection with a commercial mortgage transaction and line of credit/converting term loan facility and subsequent modifications.
• Represented a charter school in the issuance of approximately $23 million of NYCIDA Revenue Bonds to refinance existing bonds and mortgages encumbering commercial properties in the city.
• Represented a real estate holding company as borrower in connection with a $6.5 million commercial mortgage loan with JPMorgan Chase Bank N.A.
• Represented a real estate holding company as borrower in the refinance of an $8 million mortgage loan with Signature Bank, secured by commercial property in Queens, New York.
• Represented an institutional lender in connection with a $7 million commercial mortgage loan sale.
• Represented a life insurance company in connection with the sale of a portfolio of approximately 200+ individual commercial loans secured by single family investment properties throughout the State of Ohio.

Development and Construction

• Represented a real estate developer in $52.5 million building and project loan facility with Canadian Imperial Bank of Canada for a residential apartment building in Long Island City, New York.
• Represented a real estate developer as borrower in an $18.25 million building and project loan with First Niagara Bank N.A. for a commercial building in Queens, New York.
• Represented a leading global financial services firm and banking institution in connection with the sale of development rights in connection with South Street Seaport in downtown Manhattan.
• Represented a specialized manufacturer in the acquisition of manufacturing plant in Middlesex County, Massachusetts.
• Represented hotel owner/developer in the sale of a hotel in New York, New York.
• Represented a real estate development group in the acquisition and structuring of an assemblage and development rights for a mixed-use development on 5th Avenue in New York City.
• Represented a large public utility in the negotiation and drafting of an easement and a license agreement for the installation of equipment and facilities for the new Resorts World Casino at Aqueduct Racetrack in Queens, New York.
• Represented a nonprofit corporation in connection with the redevelopment of the client’s hotel property located in New York City, including the review of financing agreements and construction contracts, the sale and disposition of adjacent property, meetings with architects and engineers, and consultation on building department and housing preservation and development issues.

Acquisitions/Dispositions

• Represented a developer in the sale of a $176 million development site in the Hudson Yards project in New York City.
• Represented international manufacturing company in connection with the acquisition of two (2) plants in Lake Orion, Michigan.
• Represented manufacturing company in connection with the acquisition of a $12 million manufacturing site in Connecticut.
• Represented a public university system in connection with the purchase of a performing arts center from the Archdiocese of New York.
• Represented a private school in the purchase and financing of a townhouse in New York City, including a $12 million mortgage loan.
• Represented a utility company in the sale of distressed real property to the town of Oswego, New York.
• Represented religious corporations in the sale and disposition of multiple parcels of real property, including school buildings and residential properties in Brooklyn and Manhattan, New York.
• Represented an institution of higher learning in the purchase, development and exchange of condominium premises in New York City.

Leasing

• Regularly represent Five Below, Inc. in retail leases throughout the New York Metropolitan area.
• Represent a not-for-profit corporation, as tenant, in a multi-floor 80,000+ square foot lease and related construction planning and finance work for a tech hub center in New York, New York.
• Represented a national real estate investment trust shopping center developer in multiple retail and ground leasing transactions with national retail tenants such as Bridgestone Tires, Starbucks, Men’s Wearhouse, Sylvan Learning Centers, Nine West and Bank of America.
• Represented international shoe retailer, as tenant, in leases for their corporate headquarters in Novato, California, for substantial showroom and office space in the SoHo neighborhood in New York City, as well as retail leases in New York, New York and Los Angeles, California.
• Represented restaurateur in obtaining leases for restaurant space on Long Island, including Massapequa and Woodbury, New York.
• Represented national shipping and distribution company in connection with the leasing of a distribution center in Newburgh, New York.
• Represented a financial institution in various branch leases and ATM licenses in the New York metropolitan area.
• Represented an international manufacturer of various specialized products in connection with modifications to its lease to assist in the expansion of its existing manufacturing facility in Windsor, Connecticut, whereby the client’s landlord agreed to finance the expansion in exchange for rental adjustments and other terms.
• Represented a real estate holding company in the lease of an industrial property in Mahwah, New Jersey.
• Represented religious corporations in various leasing matters, primarily school buildings, vacant lots and related properties, including the ground lease of a large school property in Brooklyn, New York, and leases of school buildings of varying sizes to the New York City School Construction Authority.
• Represented a New York University affiliate in the leasing of two floors of a prominent building in New York City.
• Represented a financial institution in the lease of a flagship branch location in Brighton Beach, Brooklyn, New York.

Memberships

• American Bar Association
• New York State Bar Association
• Mortgage Bankers Association (MBA)
• Young Mortgage Bankers Association (YMBA)
• International Council of Shopping Centers (ICSC)