Pillsbury real estate practice takes lead on one of 2016’s largest commercial property deals

A $1.9 billion deal for the iconic Manhattan building at 787 Seventh Ave. put a team of Pillsbury lawyers atop Law360’s list of the 10 largest real estate deals in the first quarter of 2016.

A subsidiary of Commonwealth Partners bought the property from AXA for $1.942 billion—an amount more than twice as large as the No. 2 largest deal on Law360’s list. It was a quick sale, with the property going on the market in September and the buyer closing in January.

The sale of the Seventh Avenue property was the largest of the quarter, according to Real Capital Analytics, with New York properties accounting for six of the 10 largest deals.

Pillsbury's team was led by Real Estate partner Caroline Harcourt and senior counsel Alan Pomerantz. The team also included Real Estate partner Peter Freeman, senior associate Doug Pyle, attorney Stephanie Ray, associates Patrick Herndon, Jessica Lee, Noel Vales, Matt Valdez, Adam Weaver and Kevin Webb; Litigation partner Debbie Baum; Executive Compensation and Benefits partner Peter Hunt; Environmental, Land Use and Natural Resources partner Jeff Knight; Insolvency & Restructuring partners Patrick Potter and Chris Mirick and senior associate Dania Slim; Tax Counsel Nora Burke; and Finance partner Tom Gump.