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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.
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