Stuart M. Saft

Partner
New York
  • T 212.513.3308

Stuart M. Saft, chair of Holland & Knight's New York Real Estate Practice Group, co-chair of the Global Hospitality, Resort and Timeshare Group and co-chair of the Global Condominium Development Team, has extensive experience in the development, financing, leasing, conversion-to-condominium and cooperative ownership, exchange, syndication, sale-leaseback, timeshare, restructuring, acquisition and sale of residential, commercial and hospitality property throughout the United States. Mr. Saft has also represented lending institutions in mortgage lending and workouts and has advised clients on dealings with Fannie Mae, Freddie Mac and the Federal Home Loan Banks. Mr. Saft writes a monthly column for GlobeSt.com and The Mann Report.

Representative Matters

  • representation of the developer of the flagship Baccarat Hotel and Residences in New York
  • represented the developer of a five-star resort in Anguilla
  • represented the sponsor in the reconstruction and sale of condominium units in the 5 landmarked buildings comprising Manhattan House
  • represented the developer of the Evité Hotel and Residences, the W Downtown Hotel and Residences, The Setai-New York Residences, and the Miraval Living Spa and Residences
  • represented the developer of Morton Square, a mixed-use development encompassing an entire block of Manhattan
  • representation of the developers of the following mixed-use condominiums, including Halcyon, Cielo, Three Ten East Fifty Third Street, The Residences at Jefferson Place and Centria, Atelier, 45 East 22nd Street, 66 East 11th Street, 45 Park Place, 11 Beach Street, 419-421 Broome Street and 152-154 Spring Street
  • representation of the sponsors of the conversion to condominium ownership of 737 Park Avenue, 150 East 72nd Street, Sheffield 57, Miraval Living, 25 Broad Street, The Apthorp, 254 Park Avenue South, 11 East 68th Street, The Wellington, 36 Gramercy Park East and 478-480 Central Park West
  • representation of the owners of Columbus Park Tower, Cadman Tower and Southbridge Towers in the privatization of Mitchell-Lama housing complexes
  • represented lenders in analyzing and making construction loans for 10 Sullivan Street, 432 Park Avenue, 30 Park Place, 520 Park Avenue, 235 West 75th Street, 88 Lexington Avenue, 90 Lexington Avenue and 301 West 53rd Street
  • represented the purchasers of the top third of the Woolworth Building
  • represented investors in purchasing a package of 18 apartment buildings
  • represented a pension fund in purchasing office buildings, mixed-use and residential properties throughout the United States
  • represented General Motors in its pre-bankruptcy analysis of its global real estate holdings
  • analyzed a global insurance company's real estate holdings in 65 countries as part of an $18 billion corporate acquisition
  • represented Deutsche Bank in analyzing 75 CMBS transactions
  • represented owners in the sale of and development rights for One57 Luxury Condominium Residences
  • negotiated headquarters lease for a global insurance company
  • represented owner in $180 million debt restructuring of The Setai-Downtown
  • represented owner in $370 million debt restructuring of luxury multi-use property
  • represented holder of senior debt in $300 million debt restructuring of a hotel development property in Las Vegas
  • represented the developer in debt restructuring of Las Vegas hotel and development site
  • represented German insurance company in debt restructuring of hospitality property in Las Vegas
  • represented Hyatt in the development and operation of continuing care retirement communities
  • represented owner in a $680 million senior debt restructuring on a mixed use property
  • represented owner of mixed-use property in restructuring $300 million in senior and mezzanine debt
  • represented investor in the acquisition of senior debt and foreclosure of junior mezzanine debt
  • represented Aetna Life Insurance Company and Chase Bank in construction and permanent financing of shopping centers and office buildings throughout the U.S.
  • represented the owners in a $220 million financing and reconstruction of 11,000 apartments
  • represented proponent of Chapter 11 reorganization and then completed construction of the 75-story, mixed-use Cityspire building
  • represented the owners in a loan workout and completed construction of Worldwide Plaza, Park Avenue Court Complex and Boulevard mixed use development 
  •  represented the owners in refinancing and reconstruction of Co-Op City, the largest housing complex in the U.S., containing 16,000 apartments and three shopping centers
  • served as counsel in the loan restructuring of Hyde Park Gardens, involving 26 lending institutions
  • represented owners of more than 100 properties leased to Kmart Corporation in Kmart's Chapter 11 reorganization
  • represented a women's clothing retailer in a Chapter 11 reorganization
  • represented the owners in workouts of more than 70 properties in multimillion-dollar mortgage defaults 
  •  advised Fannie Mae and Freddie Mac on lending requirements and workouts
  • represented the owners in the acquisition or disposition of more than 200 shopping centers, hotels and office buildings throughout the U.S. 
  •  represented the owners of The Plaza, Olympic Tower, Concord Village, Worldwide Plaza, Astor Terrace, One Fifth Avenue, Co-Op City, Tudor City, Lincoln Towers, Carlyle House, Hampton House, The Vermeer, The Whitehall, Chelsea Mercantile and others in the operation of the properties

Honors & Awards

  • The Legal 500 USA, Real Estate & Construction: Real Estate, 2012, 2014 
  • Chambers USA – America's Leading Business Lawyers guide, Real Estate, 2012-2014
  • Who's Who in America
  • Who's Who in American Law
  • Who's Who in the World
  • Theodore Small Award by the National Association of Workforce Boards
  • Dedicated to the Industry Award, by the New York Association of Realty Managers
  • New York Citywide Neighborhood Achievement Award by Mayor Bloomberg
  • Spirit of Cooperation Award by the National Cooperative Bank
  • National Humanitarian Award by the American Jewish Committee

Memberships

  • American College of Real Estate Lawyers
  • National Consumer Cooperative Bank, Board Member, Chairman, Vice Chairman, Audit Committee Chairman
  • NCB, FSB, Board Member, Vice Chairman, Audit Committee Chairman, Loan Committee Chairman
  • Council of New York Cooperatives and Condominiums, Board Member, Chairman
  • The Real Estate Finance Journal, Contributing Editor
  • New York City Workforce Investment Board, Chairman Emeritus
  • New York State Attorney General's Task Force on the Martin Act
  • Lawyers Alliance, Board Member
  • United States Army Reserve, Captain (Ret.)