NEW YORK – Loeb & Loeb LLP’s real estate practice partner and chair Raymond Sanseverino and associate Dana Rosenthal represented client Mellon Bank, N.A. (now The Bank of New York Mellon Corporation) in a transaction in which a triple net bond lease that Mellon had entered into ten years ago to lease an 851,000 square foot office building in Philadelphia was terminated; the subleases Mellon had entered into as Sublandlord to third party sublessees were assigned to the owner of the fee; and Mellon leased pursuant to a new gross lease 158,000 rentable square feet of office space.
Mellon Bank, N.A. is a subsidiary of Mellon Financial Corporation (NYSE: MEL). Mellon Financial Corporation is a global financial services company headquartered in Pittsburgh, PA, that has recently merged with The Bank of New York Company, Inc. (NYSE: BK) to form The Bank of New York Mellon Corporation (NYSE: BK). The Bank of New York Mellon Corporation is a global financial services company focused on helping clients move and manage their financial assets, operating in 37 countries and serving more than 100 markets. For more information about The Bank of New York Mellon Corporation, visit their website at www.bnymellon.com.
Sanseverino has worked with Mellon Financial Corporation and its subsidiaries in other matters including a lease representing Mellon Bank, N.A., as tenant, for 1,500,000 square feet of its headquarters office space at One Mellon Center, Pittsburgh, PA and a lease representing Mellon Capital Management Corporation, as tenant, for 96,000 square feet of office space at 50 Fremont Street, San Francisco, CA. He is Chair of the firm’s New York Real Estate Department and its Commercial Real Estate Leasing Practice Group. Rosenthal is an associate in the Real Estate Department. Loeb & Loeb’s bicoastal real estate team of more than 20 attorneys handles all manner of real estate transactions.
About Loeb & Loeb LLP: Loeb & Loeb LLP is a multi-service national law firm with 275 attorneys focusing on select core industries and practice areas, rather than endeavoring to be all things to all clients, and is recognized as a leading law firm in the areas of securities offerings; mergers and acquisitions, litigation; entertainment and media law; finance; real estate; intellectual property; private equity; employment; advertising and promotions and tax and wealth services. The firm represents multi-national, Fortune 100 companies in the firm’s core practice areas, and serves as primary outside counsel to a multitude of mid-market clients. The firm also represents high tech start-ups and high net worth individuals and families. The firm has four domestic offices in Los Angeles, New York, Chicago and Nashville and an affiliation in Asia and Europe.