Metroloft and Silverstein Properties acquire 55 Broad St.

New York, NY Fried Frank acted as counsel to a joint venture between Metroloft and Silverstein on the acquisition of 55 Broad St. in Manhattan for US$180 million. 55 Broad St. is a 30-story, 406,025 s/f office building, situated in the Financial District. Fried Frank also represented Metroloft in connection with the negotiation of the joint venture which plans to convert the office space into 571-market rate residential units, ranging from studio to three-bedroom apartments.

The Fried Frank team included real estate partner Jon Mechanic; tax partner Richard Wolfe; real estate special counsel, Stephanie Spell; and real estate associate, Daniel Jacobs.

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