Legal powerhouse Fried, Frank signals faith in FiDi with lease renewal

Real Estate

One of the city’s most powerful law firms has reaffirmed its commitment to downtown Manhattan with the largest FiDi-area office deal since the start of the pandemic and the largest in the city this year.

Fried, Frank, Harris, Shriver & Jacobson  renewed its 400,000 square-foot lease for more than 10 years at Brookfield’s One New York Plaza.

The firm,  renowned in the property world for its real estate department chaired by Jonathan Mechanic,  has been at the 50-story tower overlooking the  harbor  since 1979.

The renewal will surely raise spirits in  Lower Manhattan, which is struggling with a 20 percent vacancy rate — the city’s highest.  Brookfield executive vice-president Callie Haines termed the firm’s commitment  “an unmistakable sign of the city’s recovery and resurgence.”

Fried, Frank reopened its offices last September when most large tenants still worked mostly or exclusively from home. Mechanic strode in wearing a suit and “power” yellow tie — and never looked back. “Coming back is a turning toward normalcy,” he said at the time.

Jonathan Mechanic
Fried, Frank’s Jonathan Mechanic says returning to the office is a “turning toward normalcy.”
Getty Images for iPic

On Thursday, he called the firm’s digs “a stunning space where our attorneys collaborate on important deals while remaining connected to the pulse of the city.”

Lease terms were not available.

Fried, Frank was represented  by CBRE’s Stephen B. Siegel, Craig Reicher, Tim Dempsey, Ramneek Rikhy and Ariel Ball.  Brookfield was repped by Jeremiah Larkin, Mikael Nahmias and Hayley Shoener.

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