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Bound and Rebound

New York
Bound and Rebound
With the growing availability of loans and lenders competing for deals, the final quarter of 2010 appears to be on the rebound, according to Fried Frank partner Jonathan Mechanic, also an esteemed panelist at our NYC Real Estate Summit tomorrow.
Fried Frank's Jonathan Mechanic
Here's Jonathan, who tells us underwriting standards are loosening to the point where deals can and are getting done. “We are also seeing some greater flexibility being exhibited on non-recourse carve-outs,” he says. At the same time, investment banks are repopulating the “securitization” end of the business, and we expect to see about $10B to $20B in CMBS issues to be completed this year—up from $1.4B last year, Jonathan says. On the leasing side, he notes, we're seeing tenants in the market for office space in size and make-up that may help strengthen Lower Manhattan's market. Join Jonathan and other top experts for national and NYC outlooks. Plus great schmoozing. Register here.
Related Topics: Fried Frank, Jonathan Mechanic