Fried Frank acted as counsel to JV for financing and redevelopment of 25 Water St.

Fried Frank acted as counsel to GFP Real Estate and Metro Loft Management in connection with a joint venture with Rockwood Capital and represented the venture in connection with the financing and redevelopment of 25 Water St. The partners plan to convert the 22-story, 1.1 million s/f office building into an approximately 1,300-unit luxury residential rental tower. The $535.8 million loan, which was made to the group by lenders including Apollo Commercial Real Estate Finance and MSD Partners, is the largest in U.S. history for office-to-residential conversions.

The Fried Frank team was led by real estate partner Jonathan Mechanic and included real estate partners Suzanne deVries Decker, David Karnovsky and Cyril Touchard; corporate real estate partner Steven Rudgayzer; tax partner Rick Wolfe; real estate associates Kaitlin Gottlieb, Elizabeth Lee, Loren Naftali and Julia Rozenblat; corporate real estate associates Matthew Aldana, Leenor Gold and Elliot Samuels.

Tags: Brokerage

Reprint

Previous Story Next Story

Marcus & Millichap brokers $2.8 million sale of free-market mixed-use property in Brooklyn

Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.

Investment Property Realty Group’s Team Friedman brokers seven Bronx closings totaling $12.07 million

IPRG’s Team Friedman brokers 7 Bronx closings totaling $12.07m

Highcap Group sells Astoria 17 unit elevatored apartment building

OPEN Impact R.E. helps Coney Island Prep. secure 39-year leasehold condominium for new 45,190 s/f high school

OPEN Impact helps Coney Island Prep. secure leasehold condo. for new high school

New York restaurant group acquires Upper West Side retail co-op for $4.135 million in deal arranged by Lee & Associates NYC

N.Y. restaurant group acquires Upper West Side retail co-op for $4.135m in deal arranged by Lee & Associates NYC

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Owners Developers & Managers

Fisher Brothers signs five leases at 605 Third Avenue totaling 65,000 s/f

Columns and Thought Leadership

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.

Positive forecast for New York’s pro-housing push? - by Philip Butler

New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing

A guide to finding the right NYC property management company - by Sanjay Gandhi

Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional

Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of