Steven Simkin

Of Counsel at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Steven Simkin

Steven Simkin

Of Counsel at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Biography

* Practices:
* Real Estate

Education

J.D., University of Pennsylvania Law School, 1973
cum laude

B.S., University of Pennsylvania, 1969
cum laude

Bar Admissions

New York

Steven Simkin, Chair Emeritus of the Real Estate Department, maintains an active practice in major development projects, acquisitions and financings. His clients include major developers, investors, real estate investment trusts, institutional and private equity lenders, funds, and public and private institutions. He also has significant experience with workouts, restructurings and dispute resolutions integrating litigation, bankruptcy and tax expertise. He speaks regularly at industry symposiums and conferences on lease negotiations and writes on complex financing issues.

EXPERIENCE

His numerous development transactions include representing the landowner in connection with:

* redevelopment of the Gramercy Park Hotel;
* redevelopment and coop conversion of the Stanhope Hotel;
* negotiation of a 99-year ground lease with a developer for a high-rise apartment complex that will include both market-rate and affordable housing components in West Chelsea;
* redevelopment of 470 Vanderbilt Avenue in Fort Greene, Brooklyn, into a mixed-use facility including office, retail, residential and cultural space;
* renovation and modernization of the historic Breslin Hotel in the Chelsea neighborhood of Manhattan;
* a ground lease covering the lower floors and amenity facility of a new East Side residential condominium; and
* renegotiation of a long-term ground lease between The Cooper Union for the Advancement of Science and Art and Edward J. Minskoff Properties allowing for the development of a 370,000-square-foot mixed-use retail, educational and office property at 51 Astor Place.

Additional development experience includes representing:

* Gemini Real Estate Advisors, LLC in the acquisition of a land parcel and development rights from an adjacent parcel for a boutique hotel in the Union Square area of New York City;
* Rose Associates on construction-related agreements for a large-scale residential project in New York City;
* Service Employees International Union (SEIU) in development of a site adjacent to its headquarters with frontage along West 42nd Street and West 43rd Street in Manhattan;
* Las Vegas Sands Hotel in the development of construction projects, casinos and shopping centers;
* Continuum Partners, the developers of a $250 million development in South Beach, Florida;
* Starwood Hotels and Resorts Worldwide in the development of a luxury hotel at 46th Street and Broadway and in connection with both management contracts and hotel development in Boston, Miami and Los Angeles; and
* SL Green, Levine Builders, Vornado, Boston Properties, Rose Associates, Rockrose Development Company, Newmark & Company, Memorial Sloan-Kettering, Howard Hughes Medical Institute, Saks & Company, Metromedia, George Klein, Harry Macklowe, Bruce Eichner and Sheldon Solow, in a number of major real estate transactions.

Steve also has considerable experience representing clients in sales, acquisitions and financings, including involvement in multi-state mortgage financings on behalf of both lenders and borrowers and the formation of a real estate fund to purchase "B" notes and provide mezzanine financing for hotels, office buildings and residential developments. His experience includes representations of:

* Gemini Real Estate Advisors, LLC in connection with the acquisition and financing of three select service hotels in the Madison Square Park and Times Square areas of New York City;
* United American Land in selling 11 parcels of land, comprising an assemblage in Downtown Brooklyn, to AvalonBay Communities for a residential/retail complex;
* affiliates of the Shubert Organization, Inc. and Jujamcyn Theater Company, two of the largest Broadway theater owners in New York, in closing sales of air rights of hundreds of thousands of square feet over several historic Broadway theaters;
* $1.3 billion financing for the Columbus Centre project;
* $250 million financing for the State Street Bank headquarters building in Boston;
* $3.3 billion World Trade Center acquisition;
* $750 million purchase of Citigroup Center;
* Sumitomo Corporation in the sale of 600 Third Avenue and the purchase of 123 Mission Street in San Francisco;
* the acquisition of 95 Wall Street;
* purchasers of the Barneys real estate in New York, Chicago and Los Angeles;
* purchasers of 568 Broadway, Fred F. French Building and 10 South La Salle Street, Chicago, Illinois; and
* Simon Property Group Inc. in the largest initial public offering of a real estate investment trust.

His practice also focuses on real estate-related litigations and disputes. His work includes representing:

* Citigroup with the restructuring of its mortgage loan on the Chrysler headquarters in Auburn Hills, Michigan and in disputes involving multimillion regional shopping center in Syracuse, New York;
* Citigroup in connection with enforcing its rights under $410 million of mortgage and mezzanine loans on the Carousel Mall and Destiny expansion;
* Gemini Real Estate Advisors in the acquisition of three mortgage loans, each encumbering one of Gemini's New York City select service hotels, and the financing of the acquisition through a repurchase facility;
* the founders and owners of Rockrose Development Corp. in a division of the multibillion dollar real estate company;
* restructuring a $370 million construction mortgage loan for South Beach, Florida hotel;
* Zurich Alternative Asset Management, LLC with the rent reappraisal under a ground lease;
* Crunch, a major New York City-based health and fitness chain, in a rent reset dispute with the landlord of its flagship gym;
* the fee owner of a midtown Manhattan office building in a rent reset proceeding under a decades-old ground lease;
* the owner of the Park Central Hotel in a dispute with its lenders including a reorganization in bankruptcy;
* Boston Properties in a dispute with a major tenant;
* Kennedy family in a dispute over the D&D Building in New York City; and
* developers of a several thousand acre residential community in Florida in connection with disputes with lenders and partners.

Steve has broad experience in the area of commercial office leasing, and has been a regular panelist in the annual symposiums conducted by the New York Law Journal titled "Mastering the Art of Negotiating the Modern Lease." He has completed office lease negotiations for the headquarters of HBO and NASDAQ. Mr. Simkin is currently engaged to represent Time Warner in connection with its four million square foot relocation move in New York City and the surrounding area.

With his involvement in the purchase, sale or financing of several hundred regional malls, Steve's shopping center experience is extensive. Equitable, Simon Properties, Taubman, Federated Department Stores and Saks & Company are among his list of clients. He has also been a principal speaker at the International Conference of Shopping Centers' Annual Meeting discussing the acquisition of regional malls.

In 2016, as a part of Commercial Observer's "Power 100," Steve was one of the few lawyers named "Legal MVPs," lawyers who were behind the New York market's most exciting transactions during the previous year. Steve has also been recognized by Chambers, The Legal 500 and The Best Lawyers in America and is included in the International Who's Who in Real Estate Lawyers, Euromoney's Guide to the World's Leading Real Estate Lawyers and has been selected by the Real Estate Board of New York as one of the most influential persons in New York City.

Recognized by Chambers, Legal 500 and The Best Lawyers in America, Steve is included in the International Who's Who in Real Estate Lawyers, Euromoney's Guide to the World's Leading Real Estate Lawyers and has been selected by the Real Estate Boar

Overview
RelSci Relationships

772

Number of Boards

6

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Executive Director at Paul, Weiss, Rifkind, Wharton & Garrison LLP

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Chairman at Paul, Weiss, Rifkind, Wharton & Garrison LLP

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Co-Chair, Securities Litigation & Enforcement Group at Paul, Weiss, Rifkind, Wharton & Garrison LLP

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Co-Chair of the Tax Department at Paul, Weiss, Rifkind, Wharton & Garrison LLP

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Senior Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

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Managing Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

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Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

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Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

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Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

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Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

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In The News
The New York Times
July 10, 2016
Alessandra Cappellino, Alexander Simkin
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Steven Simkin
Of Counsel at Paul, Weiss, Rifkind, Wharton & Garrison LLP
Family Members
Child

Simpson Thacher & Bartlett LLP provides legal services. Established in 1884, the firm provides coordinated legal advice on corporate transactions and litigation matters in industries which include financial services, insurance, power and natural resources, consumer products, services, technology, telecommunications, media, pharmaceuticals and healthcare industries. Cross-border finance, banking and bank regulation, mergers and acquisitions, securities issuance and regulation, project and asset based finance, real estate, asset management, joint ventures, taxation, litigation and dispute resolution are important aspects of the firm's practice.

Spouse
Senior University Executive Director of Labor Relations at The City University of New York

The City University of New York provides high-quality, accessible education for more than 269,000 degree-credit students and 247,000 adult, continuing and professional education students at 24 campuses across New York City. The University is an integrated system of senior and community colleges, graduate and professional schools, research centers, institutes and consortia. From certificate courses to Ph.D. programs, CUNY offers postsecondary learning to students of all backgrounds. It provides the city with graduates trained for high-demand positions in the sciences, technology, mathematics, teaching, nursing and other fields. As CUNY has grown, the University also has strengthened its mission as a premier research institution, building an array of modern facilities and expanding the ranks of its world-class faculty.

Education
J.D., cum laude
Class of 1973

The University of Pennsylvania Law School, located in Philadelphia, Pennsylvania, is the law school of the University of Pennsylvania. A member of the Ivy League, it is among the oldest and most selective law schools in the nation. It is currently ranked 7th overall by U.S. News & World Report, and 1st in terms of career prospects by the Princeton Review, a rank awarded also by the National Law Journal based on placement of graduates in top law firms.It offers the degrees of Juris Doctor (J.D.), Master of Laws (LL.M.), Master of Comparative Laws (LL.C.M.), and Doctor of the Science of Law (S.J.D.).

BS, cum laude
Class of 1969

The University of Pennsylvania (commonly referred to as Penn or UPenn) is a private, Ivy League university, located in Philadelphia, Pennsylvania, United States. Penn considers itself the fourth-oldest institution of higher education in the United States, as well as the first university in the United States with both undergraduate and graduate studies.

Memberships
Assistant Editor
Prior

The University of Pennsylvania Law Review (Bluebook abbreviation: U. Pa. L. Rev.) is a law review focusing on legal issues, published by an organization of second and third year J.D. students at the University of Pennsylvania Law School. It is the oldest law journal in the United States, having been published continuously since 1852.

Career History
Of Counsel
Current

Paul, Weiss, Rifkind, Wharton & Garrison LLP is a law firm that serve as counsel to companies and investment funds. They have expertise in the areas of bankruptcy and corporate reorganization, employee benefits and executive compensation, intellectual property, personal representation, real estate and tax law. The company is headquartered in New York, NY.

Boards & Committees
Chair, Space Committee
Current

Paul, Weiss, Rifkind, Wharton & Garrison LLP is a law firm that serve as counsel to companies and investment funds. They have expertise in the areas of bankruptcy and corporate reorganization, employee benefits and executive compensation, intellectual property, personal representation, real estate and tax law. The company is headquartered in New York, NY.

Member, Advisory Board
Tenure Unconfirmed

First American Title Insurance Co. provides insurance and real estate information services. It offers insurance protection and settlement services. The company was founded in 1889 and is headquartered in New York, NY.

Member, Advisory Board
Tenure Unconfirmed

Commonwealth Land Title Insurance Co. underwrites title insurance policies, title abstracts and certificates. It has a network of more than 4,000 policy issuing locations in the US. The company is headquartered in Richmond, VA

Member, Advisory Board
Current
Trustee
Current
Non-Profit Donations & Grants

Learn how non-profit organizations benefit from RelSci
$1 - $999
2010

New York Junior Tennis & Learning (NYJTL) is the largest tennis and education-themed community organization in the United States and offers comprehensive school and community based programs throughout New York City’s five boroughs reaching more than 75,000 youth from ages 6-18. For 40 years, New York Junior Tennis & Learning has pursued this mission by bringing the joys of tennis and education to underserved children. Together, we are changing the lives of inner-city children through the sport of tennis, providing them with the necessary tools to excel on and off the tennis court.

Political Donations
$1,000
2012

Former President of United States

$1,000
2012

Senator at Office of the Senator from Utah, Mitt Romney

$1,000
2011

The National Republican Senatorial Committee (NRSC) is the only national organization solely devoted to electing Republicans to the U.S. Senate. The NRSC provides invaluable support and assistance to current and prospective Republican U.S. Senate candidates in the areas of budget planning, election law compliance, fundraising, communications tools and messaging, research and strategy.

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