Greystone Closes on Sale and Distribution of Development Property in Long Island City

Greystone Closes on Sale and Distribution of Development Property in Long Island City

  

Fried Frank acted as counsel to Greystone Development in connection with its US$40 million sale of the residential portion of a mixed-used property under development at 24-16 Queens Plaza South in Long Island City to a joint venture of Silverback Development and AEW Capital. 

In a simultaneous closing, Fried Frank also acted as counsel to Greystone Development in connection with the distribution of the commercial portion of the property to Greystone's existing joint venture partner in the project, Maamin Properties. 

The Fried Frank team was led by corporate real estate partner Steven Rudgayzer and included tax partner Richard A. Wolfe, corporate real estate associate Adam L. Streicher, tax associate Daniel Jacobson, and real estate law clerk Kaitlin A. Gottlieb.

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