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Posted: August 9, 2022
Fried Frank reps. JV in acquisition and financing of waterfront residential development
New York, NY Fried Frank acted as counsel to a joint venture of Atlas Capital Group (Atlas), Zeckendorf Development (Zeckendorf), and the Baupost Group (Baupost) in connection with the acquisition and mortgage and mezzanine financing for a luxury waterfront residential development in Manhattan’s West Village.
The project will encompass the last remaining block at St. John’s Terminal and is valued at $1.25 billion. Fried Frank also advised Atlas on the land use approvals for the project and in its joint venture with Zeckendorf (the AZ JV), as well as the AZ JV in the related joint venture with Baupost.
The Fried Frank team was led by real estate partner Jon Mechanic, and included real estate partners Ross Silver, Avi Feinberg, David Karnovsky, and Nathaniel Lifschitz; tax partner, Richard Wolfe; corporate real estate special counsel, Adam Streicher; real estate associates Jackson Cole, Daniel Jacobs, and Colin Patch; corporate real estate associate, Elliot Samuels; and corporate finance senior paralegal, Evelyn Bellew.
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