PepsiCo Disposes 20- Acre Site for New Development

On September 19, 2003, Purchase, New York-based PepsiCo, Inc. completed the disposition of a 20-acre site in the Long Island City section of Queens to the Queens West Development Corporation, a subsidiary of the Empire State Development Corporation, for public/private development. The project will include the construction of residential high-rise buildings by affiliates of Rockrose Development Corp., and construction of streets and public parks. The deal’s value is undisclosed.

Queens West Development was represented by Skadden, Arps, Slate, Meagher & Flom LLP, as lead counsel, with a team that included Neil Rock, Audrey Sokoloff and Michael Jackowitz. Rockrose Development was represented by Kramer Levin Naftalis & Frankel LLP, as lead counsel, with a team that included Michael Korotkin, Larry Loeb and Frances Buchinsky.

PepsiCo was represented by Torys LLP, with a team that included Mirek Fajt, Gary Litke, Trip Dorkey, III, Jeff Gracer, Matt Nichols and Karin Bonner.

Lawyer(s)

Neil L. Rock Larry M. Loeb Charles E. (Trip) Dorkey III Miroslav M. Fajt Audrey L. Sokoloff Gary Litke M. Francis Buchinsky Michael Korotkin Michael Jackowitz

Firm(s)

Skadden, Arps, Slate, Meagher & Flom LLP Kramer Levin Naftalis & Frankel LLP Torys LLP