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Brokerage
Posted: October 31, 2023
Fried Frank advises Empire State Realty Trust in acquisition
Brooklyn, NY Fried Frank advised an affiliate of Empire State Realty Trust on its acquisition of two adjacent properties located at the northeast corner of North 6th St. and Wythe Ave. in the Williamsburg neighborhood for a purchase price of $26.4 million. As part of Empire State Realty Trust’s capital recycling program, the transaction was funded by proceeds from a recent non-core asset disposition in a 1031, tax deferred exchange, and cash from the company’s balance sheet. The properties have a combined square footage of 11,000 s/f, including 5,600 s/f of retail space and six free-market residential units.
The Fried Frank team was led by real estate partner Ross Silver and included special counsel Jessica Mayes and associate Sarah Zehentner.
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