Proskauer Represents Hines In $485 Million Sale Of 750 Seventh Avenue

Tuesday, May 31, 2011 - 01:00

Proskauer represented longtime client Hines, the international real estate firm, in the $485 million sale of 750 Seventh Avenue in New York City to Fosterlane Management Corporation.

The 34-story, 600,000-square-foot office tower, which is located between 49th and 50th Streets in Manhattan, was designed by Pritzker Prize-winning architecture firm Kevin Roche John Dinkeloo Associates and was completed in 1989. It was acquired by Hines and an institutional equity partner in 2000 from Morgan Stanley, the building's owner since 1994 and a long-term major tenant.

Proskauer also recently represented Hines in the $190 million sale of 600 Lexington Avenue in New York City to SL Green.

The Proskauer team representing Hines in the sale of 750 Seventh Avenue was led by Ronald D. Sernau, co-chair of the firm's Real Estate Department, and also included partner Wendy J. Schriber and associate Timothy R. Bachman.

Eric Blinderman, an international litigation counsel at Proskauer, received the New York State Bar Association's 2011 President's Pro Bono Service Award at the organization's annual Law Day luncheon in Albany.

Mr. Blinderman was honored for his work on the Iraqi Human Rights Project, leading a team of more than 60 lawyers and staff at Proskauer to help Iraqis whose lives are in danger find refuge in the United States. He has devoted nearly 2,400 hours to the project, including 570 hours in 2010. The project has handled more than 160 cases involving more than 400 individuals.

Mr. Blinderman received his award from NYSBA president-elect Vincent E. Doyle and president Stephen P. Younger.