Manhattan, NY Fried Frank advised Citadel on its agreement to lease 504,000 s/f of office space at 660 Fifth Ave. Citadel’s leasing agreement in the 39-story office building comes as the financial services firm is building its new headquarters at 350 Park Ave., which Fried Frank is also advising Citadel.
The Fried Frank team includes partners Valerie Kelly and Robert Sorin and associate Eric Marlowe.
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,