The "New Deals" column in the February 5th New York Law Journal notes that "Brooklyn developer Bruce Ratner's Forest City Ratner Companies has reached an agreement to buy the New Jersey Nets from Community Youth Organization. Mr. Ratner's bid was reportedly $300 million. Mr. Ratner, the developer of Brooklyn's 16-acre MetroTech Center, plans to move the Nets to a new arena at the center of a $2.5 billion office, residential and shopping complex in Brooklyn. The move would mark the first time a major professional sports team has been in the borough since 1957....Fried, Frank, Harris, Shriver & Jacobson [LLP] was legal counsel for Community Youth Organization. Fried Frank lawyers on the deal were partners Arthur Fleischer Jr., Peter S. Golden, Laraine Rothenberg and Richard A. Wolfe; associates Abbott Cooper, Andrea Nicole Sankari, Angela Angelovska-Wilson, Matthew Lillvis, Karl Johnson, Andrew S. Lerner, Robert A. Johnson; and special counsel Pauline L. Wen. Under the current plan, development of the arena would begin next year. The completion of the project would be in time for the 2006 NBA season."