Manhattan, NY Fried, Frank, Shriver, Harris & Jacobson LLP advised Vornado Realty Trust in connection with the first phase of improvements to Penn Station.
The Fried Frank team included real estate partner Tal Golomb and included real estate associates David Firestone and Philip Fitzpatrick.
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,