News:
Brokerage
Posted: May 21, 2019
Fried Frank acts as counsel to WarnerMedia in sale-leaseback of its 1.5 million-s/f Time Warner condo unit at 30 Hudson Yards
New York, NY Fried Frank acted as counsel to WarnerMedia (f/k/a Time Warner), an operating company of AT&T Inc., in a contract for the sale-lease back of its 1.5 million-s/f Time Warner condominium unit at 30 Hudson Yards (a/k/a Tower A). WarnerMedia agreed to sell the unit to an affiliate of Related Cos. for $2.2 billion and upon closing will lease-back the space for its global headquarters across 26 floors until 2034.
The Fried Frank team included real estate partners Ross Silver and Jennifer Yashar; real estate of counsel Stephen Lefkowitz; real estate project counsel David Badain; and real estate associates David Firestone, Eric Marlowe, and Kaitlin Gottlieb.
WarnerMedia became a partner with Related Cos. and Oxford Properties Group in the development of the building in 2014, and Fried Frank also represented the company through the development and acquisition of the unit. 30 Hudson Yards is a 1,296-ft., 2.6 million s/f tower by Kohn Pedersen Fox Associates which is developed in Hudson Yards, one of the largest private real estate developments in U.S. history.
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE completes $211m acquisition of 260 Madison Ave.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
.jpg)
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
.gif)