New York, NY Fried Frank acted as counsel to Brookfield in connection with its $835 million financing for One New York Plaza. The commercial mortgage-backed security financing was originated by Wells Fargo Bank, National Association, Goldman Sachs Bank USA, and BMO Harris Bank, N.A. The Fried Frank team included real estate partner Nathaniel Lifschitz and real estate associates Simon Elkharrat, Noah Fischbach, Kaitlin Gottlieb, Catherine Potter, and Michael Turo.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,