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Wallace L. Schwartz

Wallace L. Schwartz Partner, Real Estate

Wallace Schwartz 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's clients include major real estate players in New York and nationwide, including The Related Companies, Boston Properties, JDS Development, Oxford Property Group, Westbrook Partners, Fetner Properties and Rockpoint Group.

Wally has repeatedly been selected for inclusion in leading legal publications such as Chambers USA, The Legal 500, Best Lawyers in America and Super Lawyers. Wally 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."

Experience Highlights

  • Rockpoint Group in the $465 million acquisition of 1700 Broadway and the $565 million acquisition of One Dag Hammarskojld Plaza in Manhattan
  • The Related Companies in the sale of Snowmass development properties, including the Viceroy Hotel and condominium project in Snowmass Village, Colorado
  • A consortium led by JDS Development in mortgage and mezzanine financing for the construction of a proposed high-end condominium project in South Beach, Miami, Florida
  • The Related Companies/Oxford Property Group in the one million-square-foot retail project at Hudson Yards, including the 250,000-square-foot lease to anchor tenant Neiman Marcus
  • WeWork in leases in Manhattan and Long Island City
  • Starwood Capital and LNR Partners in the modification of mortgage and mezzanine construction financing for a luxury condominium project in Manhattan

Acquisition and Development

  • 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
  • Bridge Investment Group in the development of a premier hotel and casino resort being built on the island of Tinian in the U.S. Commonwealth of the Northern Mariana Islands
  • 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 in Manhattan
  • Hudson River Trust Park in a $100 million transfer of approximately 200,000 square feet of air rights from Pier 40 on Manhattan's west side
  • Westbrook Partners in the sale of a 144,000-square-foot office building location at 31 W. 27th Street in Manhattan

Capital Markets and Financings

  • Bank of China as a co-lender in the $161 million mortgage refinancing of four office buildings in Alexandria, Virgina
  • The Related Companies in a mortgage and mezzanine refinancing of a residential project in Washington, D.C.
  • Starwood Capital Group in the acquisition and participation of mezzanine debt, and the acquisition, as mezzanine lender, of senior debt in default
  • JDS Development in a $137 million construction loan for a high-end residential project in South Beach, Miami, Florida

Gaming and Lodging

  • The Related Companies in the mortgage and mezzanine construction financing of the Hilton West Palm Beach in Florida
  • Penn National Gaming in a transaction involving 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
  • The Related Companies in the sale of the Viceroy Hotel and condominium project in Snowmass Village, Colorado

Office and Retail Leasing

  • Boston Properties in transactions involving 250 West 55th Street, 399 Park and 601 Lexington Avenue in Manhattan
  • Oxford Property Group in the development and leasing of a $2.6 billion project in lower Manhattan

Workouts and Restructurings

  • Borders Group with respect to the disposition of real estate assets throughout the country in its bankruptcy and liquidation
  • Capital Trust in the restructuring of a mezzanine loan, and a mortgage loan secured by property located in Miami, Florida
  • The Related Companies in the modification of mortgage loans secured by properties in New York, Michigan and Florida


Contact Details

New York

T +1.212.237.0020
F +1.917.591.1345
wschwartz@velaw.com
666 Fifth Avenue
26th Floor
New York, NY 10103
Local time: 1:27 PM
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Wally's Practices

  • Cornell Law School, J.D., 1977
  • Harvard University, B.A., 1974
  • Admitted to Practice: New York
  • New York Law Journal, "Distinguished Leader," 2018
  • The Best Lawyers in America (Woodward/White, Inc.), Real Estate (New York), 2018, 2019
  • Chambers USA, Real Estate Law (New York), 2007−2019
  • The Legal 500 U.S., Real Estate, 2011−2019
  • Selected to the New York Super Lawyers list, Super Lawyers (Thomson Reuters), 2006−2019
  • Legal Media Group, Guide to the World's Leading Real Estate Lawyers, 2008, 2010, 2012, 2014, 2016, 2016
    Selected to the New York Metro Super Lawyers list, Super Lawyers (Thomson Reuters), 2019
  • Who's Who Legal, International Who's Who of Real Estate Lawyers, 2011−2018
  • Avenue Magazine's, "Legal Elite"