Paul Hastings Advised New York City Football Club on the Ground Leasing and Construction Financing for Its New Stadium, Etihad Park

Paul Hastings LLP advised New York City Football Club LLC (NYCFC) and its affiliates in connection with the ground leasing of the 17-acre development site on which NYCFC intends to develop Etihad Park, a 25,000-seat professional soccer stadium in the Willets Point section of Queens that is expected to open in March 2027. The project included representation of NYCFC with respect to a pre-development agreement with the NYC Economic Development Corporation; a 49-year ground lease from the City of New York of the stadium development site; joint representation with DLA Piper LLP on a $425 million construction loan for the stadium; a significant equity investment into NYCFC by an affiliate of Marcelo Claure; and, in a related matter, a parking use agreement and CC&Rs with New Green Willets. The project is expected to be the last major stadium development in New York City for many years.

Real Estate partner Bruce DePaola led the Paul Hastings team, which included Of Counsel Gary Silber, associates Victoria J. Siesta, Katherine Tandler and Chris Collins, and senior paralegal Debbie Goldman.

More details can be found here.

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