Stuart M Saft

Partner
  • T 212.513.3308

Stuart M. Saft, practice group leader of Holland & Knight's New York Real Estate Practice Group, and former co-chair of the Hospitality, Resort and Timeshare Group and co-chair of the Condominium Development & Conversion 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 also represents lending institutions in mortgage lending and workouts and advises clients on dealings with Fannie Mae, Freddie Mac and the Federal Home Loan Banks. Mr. Saft writes a monthly column for Habitat and The Mann Report.

Representative Matters

  • Represented the developer of the flagship Baccarat Hotel & Residences in New York, the Downtown W Hotel and Residences, as well as The Bryant Hotel and Residences
  • Represented the developer of the Four Seasons Resort and Residences Anguilla
  • Represented the sponsor in the reconstruction and sale of condominium units in the five landmarked buildings comprising Manhattan House
  • Represented the developer of the Evité Hotel and Residences, The Setai-New York Residences, the Miraval Living Spa and Residences, 76 11th Avenue
  • Represented the developer of Morton Square, a mixed-use development encompassing an entire block of Manhattan, and the Oosten, a residential development encompassing an entire block in Williamsburg, as well as The Residences at City Point
  • Represented the developers of the following mixed-use condominiums: Halcyon, 76 11th Avenue, Cielo, 212 Fifth Avenue, ThreeTen East 53rd Street, The Residences at City Point, One Beekman Street, 277 Fifth Avenue, 347 Bowery, 615 10th Avenue, The Residences at Jefferson Place, Centria, Atelier, 45 East 22nd Street, 66 East 11th Street, 45 Park Place, 11 Beach Street, 419-421 Broome Street, 152-154 Spring Street, 320 West 115th Street, 78 Irving Street, 325 West Broadway, 565 Broome Street, 21 East 12th Street
  • Represented the sponsors of the conversion to condominium ownership of The Belnord, 737 Park Avenue, 150 East 72nd Street, Sheffield 57, 515 East 72nd Street, The Apthorp, 254 Park Avenue South, 11 East 68th Street, 200 East 62nd Street, 36 Gramercy Park East and 478-480 Central Park West, 275 West 10th Street, Austin Nichols and Merritt House
  • Represented the 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, 301 West 53rd Street, 15 Hudson Yards, Central Park Tower, 160 Leroy Street, 35 Hudson Yards, 125 Broad Street, 147-151 East 86th Street, Times Square Tower, 281 Fifth Avenue
  • Represented the fee owner or nonprofit entity in the formation of the following leasehold condominiums: 555 10th Avenue, 220 East 42nd Street, 498 Seventh Avenue, 162 Fifth Avenue, 2108 Adam Clayton Powell Avenue, 224 West 57th Street
  • Represented the developers of the following rental developments: 160 Madison Avenue, 7 West 21st Street, 210 Lexington Avenue, 250 Ashland Avenue, 214 East 44th Street, 21 West End Avenue, 900 Eighth Avenue, 504 Myrtle Avenue, 1865 Broadway, 100 Willoughby Street, 1865 Broadway, 1600 Sheepshead Bay Road, 532 Neptune Avenue
  • Represented the purchasers of the top third of the Woolworth Building
  • Represented the owners of Columbus Park Tower and Southbridge Towers in the privatization of Mitchell-Lama housing complexes
  • Represented the 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 MetLife's $18 billion corporate acquisition of AIG's foreign holdings
  • Represented Deutsche Bank in the acquisition of 75 CMBS transactions
  • Represented the owners in the purchase or sale of development rights for One57 Condominium Residences, 124 West 24th Street and Soho Tower; negotiated headquarters lease for a global insurance company
  • Represented the owner in the $180 million debt restructuring of The Setai-Downtown
  • Represented the owner in a $370 million debt restructuring of luxury multiuse property
  • Represented a holder of senior debt in a $300 million debt restructuring of a hotel development property in Las Vegas
  • Represented the developer in the debt restructuring of a Las Vegas hotel and development site
  • Represented a German insurance company in a debt restructuring of hospitality property in Las Vegas
  • Represented Hyatt in the development and operation of continuing care retirement communities
  • Represented the owner in a $680 million senior debt restructuring on a mixed-use property
  • Represented the owner of a mixed-use property in restructuring $300 million in senior and mezzanine debt
  • Represented an 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 in the Parkchester section of the Bronx
  • Represented a 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 a $475 million 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 the 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, Greenwich Club Residences, 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 their properties

Honors & Awards

  • Center For An Urban Future Honoree, 2017
  • Alumnus of the Year, Hofstra University, 2017
  • Guide to the World's Leading Real Estate Lawyers, Legal Media Group's Expert Guides, 2015
  • The Legal 500 USA, Real Estate & Construction: Real Estate, 2012, 2014, 2017 
  • The Best Lawyers in America guide, Real Estate Law, 2015-2018
  • Chambers USA – America's Leading Business Lawyers guide, Real Estate, 2012-2017
  • Who's Who in America, 1988-Present
  • Who's Who in American Law, 1988- Present
  • Who's Who in the World, 1995-Present
  • New York Super Lawyers magazine, 2006-2017
  • Theodore Small Award by the National Association of Workforce Boards, 2002
  • Dedicated to the Industry Award, by the New York Association of Realty Managers, 2006
  • New York Citywide Neighborhood Achievement Award by Mayor Bloomberg, 2010
  • Spirit of Cooperation Award by the National Cooperative Bank, 2012
  • National Humanitarian Award by the American Jewish Committee, 2011

Memberships

  • American College of Real Estate Lawyers, 2002-Present
  • National Consumer Cooperative Bank, Board Member, Board Chairman, Board Vice Chairman, Audit Committee Chairman, 2002-2012
  • NCB, FSB, Board Member, Board Vice Chairman, Audit Committee Chairman, Loan Committee Chairman, 2002-2012
  • Council of New York Cooperatives and Condominiums, Board Member, 1981-Present, Chairman, 1987-Present
  • The Real Estate Finance Journal, Contributing Editor, 1988-Present
  • New York City Workforce Investment Board, Board Chairman, 1998-2010, Chairman Emeritus, 2010-Present
  • New York State Attorney General's Task Force on the Martin Act, 1995-1999, 2002-2007
  • Lawyers Alliance, Board Member, 2007-2012
  • United States Army Reserve, Captain (Ret.)