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Negotiating Real Estate Deals 2019

Author(s): Jonathan L. Mechanic, Martin D. Polevoy
Practice Area: Banking, Bankruptcy & Restructuring, Real Estate
Published: Jun 2019
ISBN: 9781402434266
PLI Item #: 248719
CHB Spine #: N674

Jonathan L. Mechanic is chairman of Fried Frank's Real Estate Department. Prior to joining Fried Frank as a partner, he was general counsel and a managing director of HRO International, a real estate development organization.

Mr. Mechanic routinely counsels developers, owners, investors, REITs, and lenders in all aspects of commercial real estate transactions. Notably, he represented JP Morgan in connection with its redevelopment of 270 Park Avenue into a new 2.5-million-square-foot headquarters building, Maefield Development in its approximately US$1.6 billion acquisition of 20 Times Square, and CWCapital Asset Management in its sale of Stuyvesant Town-Peter Cooper Village to Blackstone Group and Ivanhoé Cambridge. He also represents landlords and tenants in commercial leasing and ground lease transactions, including his representations of 21st Century Fox and News Corp. on their headquarters leases at 1211 Avenue of Americas; Citigroup in its long-term lease of its headquarters at 388-390 Greenwich Street and the exercise of its option to purchase the building; Coach in the sale-leaseback of its headquarters at 10 Hudson Yards; Ernst & Young in its more than 600,000-square-foot lease for its new headquarters at One Manhattan West; Shiseido in its 225,000-square foot lease for its US headquarters and JP Morgan in its 437,000-square-foot-lease, both at 390 Madison Avenue.

Mr. Mechanic was awarded the 2016 Distinguished Alumnus Award from NYU and the 2016 Chambers USA Outstanding Contribution to the Legal Profession Award. For a decade, Mr. Mechanic has been recognized by Chambers USA as a “Star Individual” in real estate. He is consistently included on Commercial Observer’s “Power 100” list of the most powerful people in NY real estate and was the only practicing attorney to make the list in 2015, 2016, 2017, and 2018. Fried Frank’s Real Estate Department is consistently recognized as Law360’s Real Estate Group of the Year and was awarded the Chambers USA 2018 Real Estate Client Service Award.

Mr. Mechanic has taught the real estate transactions course at Harvard Law School for nearly ten years. He also lectures regularly for NYU Law School, REBNY and PLI, and is a co-author of The Commercial Office Lease Handbook published by the ABA.

He is on the Executive Committee of the Board of Governors for REBNY and the Board of Trustees of NYU Law School. He is also Chairman of the Advisory Board of NYU Furman Center for Real Estate and Urban Policy, a member of the Advisory Board of NYU Schack Institute of Real Estate, a member of the Industrial Advisory Board for Columbia University Center for Urban Real Estate, and a member of ACREL.

Mr. Mechanic received his JD from New York University School of Law in 1977, where he served as an editor of the Law Review and was elected to the Order of the Coif, and his BA, magna cum laude, from Brandeis University in 1974. He is admitted to practice in New York.

Martin Polevoy is regarded as one of the best real estate practitioners in the world.   His practice includes all areas of real estate, including acquisitions and dispositions, development, leasing, financing, joint ventures, construction contracts, restructuring, and workouts.

He represents national and international owners, developers, investors, and financial institutions, as well as European and Asian investors in debt and equity transactions in the United States. Representative deals and clients include the developers of the 1.7 million-square foot headquarters building for The New York Times Company in Manhattan; Greenland Group (Shanghai)’s purchase of a 70% interest in the 4.9 billion dollar Atlantic Yards Project in Brooklyn, New York; L'Oreal USA, Inc.’s headquarters lease in 400,000 square foot at the Hudson Yards development project in Manhattan; General Motors’s relocation of their New York headquarters and their Cadillac Division from Detroit to New York City, the Port Authority of New York and New Jersey’s redevelopment of the World Trade Center; a major investment bank’s 2 million square feet of leasing transactions and the acquisition of its Manhattan headquarters building; a prominent German open-end real estate fund’s acquisition of over 4 million square feet of first-class office buildings; developers of mixed use condominium projects in New York City;  and Asian investors and developers and institutional lenders in the US, including Greenland Holding Group (Shanghai), China Construction Bank, China Construction America, Inc., Phoenix Property Investors (Hong Kong), Reignwood Group (Beijing/London) and UCF Capital Ltd. (Hong Kong). He also serves as national real estate counsel for one of the largest real estate funds in the United States.

Polevoy was named one of the 12 leading real estate lawyers in the world by the International Who’s Who of Real Estate Lawyers and the International Who’s Who of Business Lawyers. UK research publication Chambers USA: America's Leading Lawyers for Business summarized characterizations of Polevoy by peers and clients as "a highly experienced lawyer whose distinguished career and expertise continue to attract high-profile clients. While described as 'a big name in leasing,' Polevoy provides an all-around service that is highly respected by his peers."  He has also been named among the Lawdragon 500 Dealmakers in America, and as well in Real Estate Weekly’s “All Stars in Real Estate”.  

Further, Martin is a frequent legal education lecturer, contributor, and program chair for American College of Real Estate Lawyers, Practicing Law Institute, Georgetown University Law Center, and the Anglo-American Real Estate Institute. He has also written extensively on various aspects of real estate law.