Manhattan, NY This year’s Fried Frank Real Estate Holiday Party welcomed more than 850 guests to Cipriani 42nd Street on December 5th. Hosted by Fried Frank’s market-leading Real Estate Department and Jonathan Mechanic, chairman of the firm’s Real Estate Department, the annual event brought New York’s real estate community and leaders together in celebration of the holiday season.
Photo credit goes to Michael Priest of Michael Priest Photography and Patrick Nugent and Geoff Hauschild of Camera 1.
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,