Fried Frank enjoys a red hot summer

Real Estate Weekly, Sept 29, 2004

A top firm negotiates the sale at the Plaza Hotel and other high-profile deals. In a sign of the rebounding economy, the real estate group of Fried, Frank, Harris, Shriver & Jacobson didn't lift its foot off the accelerator all summer long.

While many real estate companies spent the summer at the beach this year, the attorneys at Fried Frank were busy negotiating commercial real estate transactions for some of the most recognized companies and properties in Manhattan.

Among the most notable transactions the group negotiated included the sale of the Plaza Hotel, the crown jewel of Manhattan's Fifth Avenue; the acquisition of 717 Fifth Avenue, a 26-floor office building and the sale of 350 Madison Avenue, a 25-floor office building neighboring Grand Central Terminal.

During the summer months, Fried Frank also represented the owners of the New Jersey Nets basketball team in their sale to Bruce Ratner; The Rouse Company in its transaction with General Growth Properties.

Fried Frank also represented the Moinian Group in its purchase and financing of 180 Maiden Lane, a 41-story office building housing The Goldman Sachs Group, LLC.

Finally, the firm was intimately involved in the negotiations on behalf of Jack Resnick & Sons for the leases of both Cantor Fitzgerald and Estee Lauder at 110 East 59th Street.

"Our activity caseloads throughout the summer months have set a record in 2004," said Jonathan L. Mechanic, chairman of Fried Frank's real estate department.

"The vast majority of our clients remained very active during the summer months, consummating transactions, exclusive of the corporate mega deals, north of $1 billion."