• Elisabeth B. Avallone represents clients in a broad range of commercial real estate transactions, including acquisitions and dispositions, leases, financings, equity investments, and development deals for office, retail, multifamily, hospitality and mixed-use properties. Elisabeth also represents property owners and developers in connection with the purchase and sale of air rights and development rights, including inclusionary rights. 

    Experience

    • Represented VICI Properties Inc. in the acquisition of the real estate assets of 38 bowling entertainment centers from Bowlero Corp. (NYSE: BOWL) in a sale-leaseback transaction for an aggregate purchase price of $432.9 million.

    • Represented a large institutional investor in the sales of five multifamily properties in New York City with sales prices in excess of $300 million in the aggregate.

    • Represents a major university in connection with the continued expansion and development of its urban campus, including the acquisition and disposition of various properties in New York City.

    • Represented a national real estate investor in its acquisition of more than 15 industrial, office and retail assets in the United States, including in Seattle, Charlotte, Denver and Houston.

    • Represented VICI Properties Inc. in the acquisition of the real estate assets of four casino properties in Alberta, Canada from subsidiaries of Century Casinos, Inc. (Century) for a total purchase price of C$221.7 million (US $162.4 million).

    • Represented a large institutional investor in its acquisition of a multifamily property in Virginia and an industrial site in New Jersey.

    • Represented a joint venture between Trinity Place Holdings Inc. and Pacolet Milliken Enterprises Inc. in the sale of a 95-unit apartment building, The Berkley, located in Brooklyn.

    • Represented VICI Properties Inc. in its acquisition of an interest in the land and buildings associated with Rocky Gap Casino Resort located in Flintstone, MD, from Golden Entertainment, Inc. for an aggregate purchase price of approximately $203.9 million.

    • Represented various developers in the acquisition of inclusionary air rights in Manhattan and Brooklyn.

    • Assisted an owner of Broadway theaters in the sale of a mixed-use building in Times Square, with the seller retaining ownership of the landmarked theater currently at street level, and with ongoing redevelopment of the property. When construction is complete, the building will be a mixed-use commercial condominium that includes a state-of-the-art theater, a hotel, major outdoor signage, and retail and entertainment space.

    • Represented a large insurance company in the $98 million assignment of its leasehold interest in an office campus in Tennessee.

    • Assisted The Georgetown Co. in securing a $410 million financing package from Société Générale for 787 11th Ave.

    • Assisted a real estate investment company in securing a $65 million financing package for a luxury multifamily and retail project in Brooklyn.

    • Assisted a not-for-profit organization in the $48 million sale of a condominium unit comprising a portion of its headquarters at 420 Fifth Ave.

    • Assisted the purchaser in the $72 million acquisition of a hotel in Manhattan.

    • Represented the seller in the $50 million sale of an office building in Providence.

    Credentials

    Education

    • J.D., Georgetown University Law Center, 2014
      • Articles Editor, The Georgetown Journal of Legal Ethics
    • B.A., Urban Studies, Brown University, 2010

    Bar Admissions

    • New York, 2015

    Professional Affiliations

    • New York State Bar, Real Property Law Section