Matthew D. Parrott

Matthew D. Parrott is a member of both the Real Estate Department and the Litigation Department, and co-head of the Real Estate Litigation Practice. The firm's Real Estate Department has consistently been recognized as the preeminent transactional real estate practice in the United States, representing leading industry participants in the development and reshaping of New York City's skyline and those of other major cities around the world.

Matthew has acted as lead counsel in cases involving billions of dollars in secured finance transactions, including disputes regarding Uniform Commercial Code (UCC) foreclosures, intercreditor disputes, lender liability claims, securitized loans, mezzanine loans and guaranty enforcement. These matters have involved some of the largest construction project foreclosures in New York City history. During the Great Recession, Matthew was lead counsel representing the lenders in the foreclosure of the Trump SoHo Hotel, One Madison Park, 47 East 34th Street and 855 Avenue of the Americas. More recently, during the Covid-19 pandemic, Matthew has acted as lead counsel handling foreclosures and related litigation involving multiple noteworthy projects, including the Hayworth and XI projects in Manhattan, among others. He also has extensive experience handling matters involving joint venture disputes, land use issues, commercial leasing disputes, specific performance claims, adverse possession claims, Sharia and murabaha financing, corporate merger and acquisition transactions, and fraudulent transfer claims. Matthew's clients routinely seek out his advice in a general counsel capacity with respect to day-to-day litigation matters impacting their businesses and transactions.

In recognition of his extensive experience, Matthew has repeatedly been appointed to act as a receiver by federal and state courts in matters involving liquidations of corporate entities, administration of insolvent businesses, real property foreclosures and the management and operation of commercial properties. He is also an experienced arbitrator and has previously presided over arbitration matters involving complex securities and contract disputes.

Matthew is recognized by Chambers USA: America's Leading Lawyers for Business in the category of Real Estate Litigation, which describes him as “an expert in the real estate litigation space and a supremely talented lawyer.” He is actively involved in real estate industry current affairs and is regularly asked to write and speak on industry topics. Most recently, he participated in PLI Institute's panel titled “Issues in Commercial Real Estate Finance – The Litigator's Point of View.” In 2019 and 2021, the New York Law Journal announced that the firm's Real Estate Litigation Practice had been named the Litigation Department of the Year – Real Estate in recognition of the many significant matters handled by our team.

Prior to joining Fried Frank, Matthew was partner and head of the real estate litigation practice in the New York office of an international law firm.

Work highlights:

Real Estate Litigation:

• Lead counsel to purchaser of $335 million portfolio of industrial warehouse facilities in successful assertion of specific performance claims in Delaware Chancery Court where seller sought to terminate purchase agreement entered into at outset of Covid-19 pandemic.
• Lead counsel to lender in foreclosure of mixed-use development project located on West Side of Manhattan involving over $1 billion in construction financing.
• Lead counsel to construction lender in foreclosure of $240 million mixed use development project located on Upper East Side.
• Lead counsel representing lender syndicate in foreclosure of $174 million loan facility involving 43-story condominium tower located in Tribeca.
• Lead counsel representing land owner in the assertion of adverse possession claims relating to multi-acre liquefied petroleum facility located in Red Hook, Brooklyn.
• Lead counsel to lender under $435 million mezzanine and senior mortgage financing facility in connection with UCC auction of newly constructed luxury hotel containing 391 rooms in lower Manhattan.
• Appointed to act as receiver by the US District Court for the Eastern District of New York, in matter involving liquidation of multiple corporate entities and real estate assets to satisfy $50 million judgment, as well as investigation and recovery of fraudulent transfers of assets by judgment debtor.
• Lead counsel to owner of 126-room hotel in Midtown Manhattan in Yellowstone injunction action filed in New York State Court against hotel landlord to enjoin landlord from terminating hotel ground lease based on alleged certificate of occupancy violation. Successfully obtained injunction prohibiting termination of lease.
• Lead counsel in commercial foreclosure matter and subsequent workout and restructuring of $112 million loan issued to finance construction of partially completed 19-story condominium in Stamford, Connecticut.
• Lead counsel to general partner of real estate holding company in defense of breach of fiduciary duty and fraud claims brought by limited partners alleging that general partner undervalued limited partnership interests in connection with merger transaction. Obtained complete defense verdict after four-day trial in New York State Supreme Court.
• Successful representation of mezzanine lender under $22 million loan issued to finance acquisition of landmark office building located at 295 Madison Avenue in New York City in action filed to obtain declaratory judgment preventing borrower from extending maturity date of loan.
• Lead counsel to publicly held banking institution and its officers and directors in defense of federal civil RICO and securities fraud claims in the US District Court for the Southern District of New York alleging conspiracy to defraud borrowers in connection with large-scale commercial loan transactions.
• Successful representation of shopping mall owner in New York State Court against claims filed by commercial tenant alleging owner verbally agreed to extend lease term. Obtained tenant's agreement to quit occupancy after filing of summary judgment motion.
• Successful representation of junior member of limited liability company against managing member's claim for $30 million broker commission in connection with renewal of lease in 2.7-million-rentable-square-foot high-rise Tribeca building by major tenant and negotiated buyout of client's interest by managing member.
• Successful representation of seller of strip mall property in Upstate New York in enforcing contract to sell property to winning bidder in online auction conducted by Auction.com website. After the first day of trial, purchaser agreed to settle case and honor purchase agreement.
• Successful representation of junior member of owner of high-rise commercial building containing 2.2 million rentable square feet in Midtown Manhattan in action to compel managing member to honor agreement to complete tenant improvements and execute leases for vacant space in building.
• Lead counsel to developer of high-rise hotel in Midtown Manhattan in defense against claims filed by neighboring property owner seeking to enjoin project and obtain damages allegedly arising from noise and vibration caused by excavation and other construction activities.
• Lead counsel to owner of luxury high-rise condo tower in New York City in defense against unit purchaser claims alleging defective design and construction of bathroom shower stall and bathtubs.
• Lead counsel to developer of high-rise construction project in Midtown Manhattan in defense against claims stemming from on-site explosion that occurred during construction activities.
• Lead counsel in claim against condominium sponsor alleging defective bathroom design and installation in newly constructed Tribeca high-rise.
• Successful representation of owner of waterfront development parcel located in Long Beach, New York, against breach of contract and fraud claims asserted by the city alleging that owner agreed to reimburse more than $15 million in eminent domain condemnation costs incurred by the city in facilitating assemblage of parcel.
• Lead counsel in commercial foreclosure matter and subsequent workout and restructuring of $112 million loan issued to finance construction of partially completed 19-story condominium in Stamford, Connecticut.
• Successful representation of mezzanine lender under $22 million loan issued to finance acquisition of landmark office building located at 295 Madison Avenue in New York City in action filed to obtain declaratory judgment preventing borrower from extending maturity date of loan.
• Lead counsel in commercial foreclosure action and related bankruptcy proceeding involving $250 million loan secured by mortgages on partially constructed 50-story high-rise condominium building located on Madison Avenue and twenty-third street in Manhattan.
• Successful representation of senior lender in commercial foreclosure action involving $46 million loan secured by two apartment buildings located on 92nd Street on Upper East Side in Manhattan.
• Successful representation of institutional lender in New York State Court action to foreclose UCC pledge and take ownership of limited liability company borrower, a nationwide operator of Megaplex movie theaters, after default under $60 million loan.
• Successful representation of lender in mortgage foreclosure proceeding involving one-block parcel of commercial property located on Avenue of the Americas in Midtown Manhattan after borrower defaulted under $104 million loan. Obtained summary judgment.
• Lead counsel to lender in commercial foreclosure action involving $76 million loan secured by mortgages on newly constructed 36-story high-rise apartment building located at Park Avenue and Thirty-Fourth Street in Midtown Manhattan.
• Representation of a lender in a CPLR 3213 proceeding filed in New York State Court to recover $18 million pursuant to payment guaranty issued in connection with $170 million loan issued to construct mixed-use building located in Washington, DC.
• Successful representation of lender in foreclosure of newly constructed 42-story luxury hotel in Atlanta after developer defaulted under $145 million construction loan. Obtained $35 million judgment on related payment guaranty.
• Successful defense of lender in lawsuit brought by developer in New York State Court seeking to enjoin lender from declaring default under $80 million construction loan issued to finance 600-acre residential and commercial development in rural Virginia.
• Lead counsel to limited partner in lawsuit in New York State Court seeking to recover $22 million pursuant to completion guaranty issued in connection with conversion of factory building in downtown Brooklyn into condominium apartments.
• Representation of clearing broker in the US District Court for the Southern District of Florida against allegations that broker, as one of multiple financial institution defendants, aided and abetted stock manipulation scheme involving naked short selling of equities. Successfully moved to dismiss civil RICO claims with prejudice at the outset of the litigation under Fed. R. Civ. P. 12(b)(6).
• Representation of US-and UK-based financial institutions in the US District Court for the Southern District of New York against allegations that they engaged in conspiracy to defraud plaintiffs in connection with plaintiffs' sale of stock to third-party investor. Successfully compelled dismissal of the Section 10(b) fraud action when plaintiffs voluntarily withdrew complaint after being served with motion for Rule 11 sanctions.
• Successful representation of the sellers of an Israeli telecommunications company before the American Arbitration Association regarding claim that acquirer, a publicly held NYSE company, improperly refused to make earn out payments that accrued during the three-year period following closing of the merger. Obtained an eight-figure settlement for the seller clients.
• Representation of a major publicly held energy company in arbitration before the American Arbitration Association seeking $40 million in damages from client resulting from alleged termination of a merger agreement. Successfully obtained dismissal of claims against client; the case settled on favorable terms and all claims were dismissed with prejudice.
• Successful representation of major futures commission merchant in connection with CFTC investigation and related federal civil court action concerning hedge fund manager accused of fraudulently concealing $140 million in trading losses from fund investors.
• Representation of Fortune 500 company in a four-day trial before Judge Sidney H. Stein of the US District Court for the Southern District of New York; obtained a complete defense verdict for the client, including dismissal of all claims brought by a major bank relating to the sale of interests in a $54 million construction loan.
• Successful representation of institutional trader in connection with investigations by the SEC and US Attorney's Office in which client was suspected of violating FINRA gift-giving and entertainment rules in its dealings with mutual fund customers.
• Successful representation of major futures commission merchant in connection with CFTC investigation and related federal civil court action concerning hedge fund manager accused of fraudulently concealing $140 million in trading losses from fund investors.
• Successful representation of institutional trader in connection with investigations by the SEC and US Attorney's Office in which client was suspected of violating FINRA gift-giving and entertainment rules in its dealings with mutual fund customers.
• Representation of a Fortune 100 financial services company and one of its money managers in a three-day FINRA arbitration hearing regarding claims asserted by a corporation alleging fraud and mismanagement of its employee profit-sharing plan. Obtained a complete defense verdict.
• Representation of a futures commission merchant in a four-day NYSE arbitration hearing against accusations of fraud in connection with foreign exchange trading operation. Obtained a complete defense verdict for the client.
• Successful representation of major clearing firm in connection with more than 100 securities arbitrations relating to accounts held at a single introducing broker accused of fraud. Obtained complete dismissal of all such matters without a single adverse verdict against client.

*These representations took place during Matthew's time associated with another law firm prior to his arrival at Fried Frank