Manhattan, NY This year’s Fried Frank real estate holiday gala, held at Cipriani 42nd St. on December 6th, was a celebration of a resurgent real estate market, attracting the real estate industry’s most well-known personalities. Executives joined their colleagues in the yearly celebration. Hosted by Fried Frank’s real estate partners and chairman of the Real Estate Department, Jonathan Mechanic.
Featuring elegant décor, including a massive crystal ceiling centerpiece and images of New York City’s skyline on its walls, Cipriani 42nd Street provided ideal ambiance for the event.
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,