Manhattan, NY Fried Frank advised Fox and News Corp on a long-term commitment extending their lease terms at 1211 Avenue of the Americas until 2042 with options to further extend. The combined space is over 1.1 million s/f. The Fried Frank team was led by real estate partner Jennifer Yashar and included partner Zach Bernstein, special counsel Neil Hood and associates Colin Patch and Noah Koeppel, Penny King and Aaron Kahen.
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,