News:
Brokerage
Posted: May 18, 2021
Fried Frank acts as pro bono counsel to Luria Academy
Brooklyn, NY Fried Frank acted as pro bono counsel to Luria Academy in connection with its $10.7 million financing for their planned conversion of a three-story, 34,000 s/f former industrial facility in Prospect Heights to a school for 4th through 8th grade students. The Fried Frank team included real associate partner Meyer Last; real estate associates David Firestone, Hugh MacKay, Heather Paik, Michael Celler and Austin Leist; and asset management associate Katherine Skipper.
The loan proceeds were made available through the purchase by Bank Leumi USA of tax-exempt revenue bonds issued by the Build NYC Resource Corp. Fried Frank also acted as counsel to the school in connection with its leasing of the facility in 2019.
Tags:
Brokerage
MORE FROM Brokerage
Fireside Embroidery leases at 1245 Middle Country Rd. in Middle Island
Middle Island, NY Robert Raffa and Robert Monahan of Island Associates negotiated the 1,404 s/f lease for Fireside Embroidery in the Strathmore Shopping
Quick Hits
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
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,
