Firm Advises on Joint Venture Between Sumaida + Khurana and LENY in $65M Acquisition for 611 West 56th Street Development

NEW YORK — September 22, 2017 — Hunton & Williams LLP has advised the joint venture between Sumaida + Khurana and LENY in its $65M acquisition and planned demolition and redevelopment of 611 West 56^th Street.

The transaction, which closed on September 20, 2017, will include the demolition of the vacant commercial building currently on the property, located on Manhattan’s West Side, and the subsequent development and re-purposing of the site into a 35-story (173,163 square foot) 80-unit ultra-luxury residential condominium with retail components. The planned development has been designed by the Pritzker Prize-winning architect, Alvaro Siza, and will be his first project in the United States. Featuring approximately 80 residences ranging from one to four bedrooms and penthouses, the development will include a suite of amenities, such as private terraces, a roof garden and sun deck and fitness center.

Hunton & Williams’ legal team was led by New York partner Carl F. Schwartz, senior attorney Susan Saslow, and associates Douglas Hoffmann and Michal Baum. “Our clients have planned a visionary development on the site, and we are proud to accompany them on this journey,” said Schwartz, co-head of the firm’s real estate practice.

Hunton & Williams previously represented the joint venture in its acquisition of development rights to be used in connection with the project.