Real Estate Update – Spring 2008

Despite turmoil in the capital markets and subprime sector, our clients in 2007 kept us busy closing transactions all year. We were particularly active with property sales and purchases, joint venture investments, large leases and permanent financings. In 2007, our real estate group participated in four of the 10 largest Manhattan office leasing deals, as reported by Crain's New York Business:

• 825 Eighth Avenue, in which we assisted the tenant, Cravath, Swaine & Moore LLP, in the modification of its lease of over 600,000 square feet with Macklowe Properties,
• We represented Gibson Dunn & Crutcher in its lease of over 200,000 square feet with Boston Properties at the building to be constructed at 250 W. 55th Street,