Hogan Lovells 2024 Election Impact and Congressional Outlook Report
Karen Scanna
Partner Corporate & Finance
Languages
English
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Overview
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Experience
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Credentials
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Insights and events
Karen Scanna has worked on several of the most complex and high-profile real estate transactions in New York City's history.
Private developers acquiring City-owned property for redevelopment, by deed or ground lease, often seek her guidance in navigating the City's competitive bid process. With a focus on acquisition, development, and financing - including mortgage, mezzanine and preferred equity, and construction-to-permanent loans - several of Karen's transactions have involved high-profile public-private partnerships. For example, she represented Delancey Street Associates in its winning bid for the Essex Crossing development, a delicate and complex negotiation that leveraged Karen's considerable clout and experience.
The vast majority of Karen’s clients have elected to operate their properties in joint venture with others, and a significant part of her practice has involved the negotiation of joint venture agreements, representing the developer/operator partner as well as the capital partner and/or preferred equity holder.
Described in Chambers USA as "a very strong lawyer with a very good developer representation practice" and "extremely knowledgeable," Karen has been the recipient of numerous awards and honors for her work, including being named to the "Notable Women in Law" list by Crain's New York Business and by Globe St. - Real Estate Forum as one of its Women of Influence in the commercial real estate industry for 2008, 2014, 2015, 2020, 2022 and 2024. Chambers says, "Her knowledge of commercial real estate, both legal and practical aspects is unparalleled. Her advice has been invaluable."
Representative experience
A joint venture managed by Lendlease and L+M Development Partners on obtaining construction financing for the development of 100 Claremont Avenue, a mixed use building in Morningside Heights.*
A Korean trust, as the junior mezzanine lender, in the workout and extension of an existing US$480m aggregate loan secured in part by a 4-building, 750,000 sqf mixed-use campus in Brooklyn, New York.
Taconic Investment Partners, L+M Development Partners, and BFC Partners on all aspects of the acquisition, financing, and development of Essex Crossing.*
L+M Development Partners and Type A Projects on its successful bid to develop Bronx Point on City-owned property, featuring affordable housing and the Universal Hip Hop Museum.*
TF Cornerstone on its selection by the NYC Economic Development Corp. to develop two City-owned sites on the Long Island City waterfront.*
The purchaser of Riverton Houses in East Harlem on the acquisition, financing and continued operation under an Article XI Regulatory Agreement.*
Silverstein Properties on the 2001 acquisition and financing of various leasehold interests in the World Trade Center, and the subsequent restructuring and continued redevelopment thereof.*
The New York Mets on the construction and financing of the stadium known as Citi Field.*
*Matter handled prior to joining Hogan Lovells.
Credentials
Education
- J.D., New York University School of Law, 1995
- B.S., Yale University, 1990
Bar admissions and qualifications
- New York
- New Jersey
Memberships
- Member, Urban Land Institute Program Committee for 2024 Spring Meeting
- Member, Urban Land Institute Awards Committee, 2022 ULI NY Awards for Excellence in Development
- Member, Urban Land Institute New York Mixed-Use Council
- Member, Urban Land Institute New York Women’s Leadership Initiative
- Member, WX, Inc. – New York Women Executives in Real Estate
- Member, WX, Inc. Membership Committee
- Mentor, WX, Inc.
- Member, Real Estate Board of New York
- Member, New York City Bar Association