From left: Thor Equities’ 590 Fifth Avenue, the Mark Hotel and Wonder Works’ Vitre
Churchill Real Estate’s Justin Ehrlich has seen a lot during his time as a developer and lender in New York. He witnessed the collapse of the real estate market during the 2008 financial crisis, followed by the mad rush to build luxury condo towers in some of Manhattan’s swankiest neighborhoods.
But nothing compares to the past nine months, he said. “It’s not normal,” Ehrlich noted. “It’s the worst I’ve ever seen.”
He pointed to an unusual rise in Uniform Commercial Code foreclosures by mezzanine lenders, which he sees as a canary in the coal mine for a mound of distress expected to hit the market in the next year. While judicial foreclosures are still banned under an emergency order by New York Gov. Andrew Cuomo, UCC foreclosures on some high-stakes projects have been moving ahead in recent months since they can bypass state courts.
December 9, 2020
Juan Estrada RLAW 21 will be an associate at Fried Frank, then a staff attorney for the Mexican American Legal Defense and Educational Fund.
Growing up as the son of immigrants and a DACA recipient, Juan Carlos Estrada RLAW ’21 understands firsthand the injustices and harsh working conditions that immigrants have endured in the United States. Estrada, a graduate of the University of Texas in San Antonio, was inspired to go to law school, in part to help the Latinx community.
“Today, the Latino population is one of the fastest-growing and youngest ethnic groups in the country, but we continue to be disproportionately disadvantaged and underrepresented,” he wrote in his application.
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Fried Frank’s annual holiday bash typically draws about 1,000 clients and friends to Cipriani, where they stand elbow to elbow sipping cocktails and snacking on hors d’oeuvres.
But this year may be one for the Grinch.
Planning for the firm’s annual holiday bash typically starts a year in advance. But last month, the white-shoe law firm officially pulled the plug on its celebration, seen by many as the industry’s unofficial start to the holiday season.
“As much as I like having fun and going to the parties and seeing everybody, I think this is the year of no parties.”
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Fund Formation Group Of The Year: Fried Frank
Law360 (December 14, 2020, 3:26 PM EST) Fried Frank Harris Shriver & Jacobson LLP guided Goldman Sachs Merchant Banking Division in the formation of a fund aiming to raise $14 billion and advised BlackRock in the $5.1 billion closing of its largest alternative asset fundraise, earning the firm a spot among Law360 s 2020 Fund Formation Groups of the Year.
Lawrence Barshay, the founder and head of Fried Frank s asset management practice, said that since well-known fund managers began leveraging their brands to manage significant amounts of assets following the 2008 financial crisis, the firm has carved out a niche for representing really high-end firms that practice at the.