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Latham & Watkins Advises Steiner NYC on US$420 Million Recapitalization of Hub
March 18, 2025
Real estate team represented the New York-based developer in financing resulting in full ownership of high-rise multifamily building in Brooklyn.
Steiner NYC, a New York-based property developer, completed a US$420 million recapitalization to purchase a majority stake in Hub, a high-rise development in Brooklyn, from J.P. Morgan Asset Management. Steiner also arranged an investment of US$62.5 million in preferred equity from Meadow Partners to support the purchase. The transaction gives Steiner NYC full ownership and control of Hub.
Latham & Watkins LLP represented Steiner NYC in the transaction with a real estate team led by New York partners Douglas Heitner and Justin Elliott, and Chicago partner Robert Fernandez, with associates Chris McAdam and Moshe Friedland.