Firm News & Legal Alerts

Tuesday, September 3, 2019

Weiss Zarett closes on a $17.5 million transaction

On September 3, 2019, Michael D. Brofman successfully closed on a client’s acquisition of the remaining 80% interest in a limited liability company in a $17.5 million transaction. The company is in the process of developing a hotel on land it owns in Long Island City. Had the acquisition not closed, the company would have lost its $30 million construction financing. Michael was able to complete the negotiation and drafting of the acquisition agreement, the revised operating agreement and all of the other transactional documents required by the seller and the lender within three weeks!


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