Brookfield Asset Management Acquires Leasehold Interest in 666 Fifth Avenue

Brookfield Asset Management Acquires Leasehold Interest in 666 Fifth Avenue

 

Fried Frank acted as counsel to Brookfield Asset Management in connection with its acquisition of a 100% leasehold interest in 666 Fifth Avenue's office condo, a 1.5-million-square-foot building in Midtown Manhattan, through one of its real estate investment funds. The term of Brookfield's 100% leasehold interest in the office condominium, acquired from the Kushner Companies, will be 99 years. Brookfield Properties will operate the building and plans a major redevelopment program to upgrade it.

The Fried Frank team was led by real estate partner Joshua Mermelstein and included corporate real estate partner Patrick M. Dowd, tax partner Robert Cassanos, real estate special counsel Joel London and Cyril Touchard, corporate real estate special counsel Jessica H. Mayes, real estate associate Jing Jin, corporate real estate associate Tam T. Ho, and tax associates Josh Goldstein and Daniel Jacobson.

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