News: Brokerage

Fried, Frank renews 400,000 s/f with Brookfield Props.

Manhattan, NY According to Brookfield Properties, Fried, Frank, Harris, Shriver & Jacobson LLP has signed a long-term lease renewal for its 400,000 s/f office at One New York Plaza. Additional lease details were not disclosed.

“Brookfield is committed to the success of New York City and Lower Manhattan, and we are thrilled that Fried Frank will continue to make the neighborhood its home. This deal is the largest Downtown since the start of the pandemic, an unmistakable sign of New York City’s recovery and resurgence,” said Callie Haines, executive vice president and head of New York, Brookfield Properties.

Fried Frank was represented by CBRE’s Steve Siegel, Craig Reicher, Tim Dempsey, Ramneek Rikhy, and Ariel Ball. Fried Frank partners Jennifer Yashar, Jonathan Mechanic, and Meyer Last worked on the deal. Brookfield was represented by Jeremiah Larkin, Mikael Nahmias, and Hayley Shoener.

“We are thrilled to remain at One New York Plaza,” said David Greenwald, chairman of Fried Frank. “This is the beginning of another exciting chapter for us as we look forward to contributing to the city’s ongoing revitalization post-pandemic, our firm’s continued growth and working with our clients on their most complex matters.”

“The firm’s downtown location is a stunning space where our attorneys collaborate on important deals while remaining connected to the pulse of the city,” said Mechanic, Fried Frank Real Estate Department chairman. “This lease renewal is further proof of our commitment to the city’s successful comeback and recovery.”

One New York Plaza is a 50-story commercial tower offering unobstructed, panoramic views. The 2.6 million s/f building features a recently renovated fitness center and retail concourse with dining and shops and a newly designed lobby. One New York Plaza is conveniently located just steps from 13 subway lines, the Staten Island and New York City ferries as well as heliport transportation. Brookfield Properties is committed to health and wellness. Its North American portfolio, including One New York Plaza, achieved the 2021 WELL Health-Safety rating in addition to the BOMA 360 and Energy Star certification.

Fried Frank and its predecessors have maintained a presence in Lower Manhattan since its founding in the late 1890s. One New York Plaza’s prime location is in close proximity to many of the firm’s clients and provides access to all of the amenities of working Downtown, including historic landmarks, sweeping waterfront views, Battery Park, restaurants, and more. Fried Frank is working with architecture firm Gensler to enhance features of its One New York Plaza office.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

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,

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

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,
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Strategic pause - by Shallini Mehra and Chirag Doshi

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