New York's hottest real estate gala returns in December

The city’s real estate business is making a comeback – and with shrimp, sushi, caviar and champagne. To the delight of nego...


The city’s real estate business is making a comeback – and with shrimp, sushi, caviar and champagne.

To the delight of negotiators and tycoons alike, Fried’s annual party, Frank returns on December 7 after a year off for the pandemic.

The drunken evening launched by the law firm powerful real estate department and its president Jonathan Mechanic has been the world number 1 in real estate since his debut 26 years ago at Club 21.

“Fried Frank’s Party is the real estate industry’s equivalent of the tree lighting at Rockefeller Center – the official start of the holiday season. And just like the Rock Center, it feels like the whole world is there, stuck, full of good spirits, ”said Mary Ann Tighe, CEO of Tristate.

“This year we will especially appreciate it as we will all be celebrating that our city has moved to the other side of the pandemic,” she said.

It will be again: waiters line up to serve guests at the Fried Frank Gala in 2018.
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The event became so popular that Mechanic moved it to the larger St. Regis rooftop, then to the huge Cipriani at 110 E. 42nd St. in 2004. We’ve already compared the din of 1,300 industrial machers in the cavernous bank hall to the roar of an express train.

When the pandemic sidelined the event last year, Mechanic ordered a jigsaw puzzle of images of celebrations from years past and sold them for charity.

He said of the return of the real thing: “It kicks off the holiday season and, of course, the end of year deals. Hosting this event is a reflection of our commitment to the real estate industry and the resurgence of New York City. We’re back, but with proper health and safety protocols in place, including a reduced guest list, proof of vaccination requirements, and COVID testing. “

Jonathan Mechanic assures that the party will ask for proof of vaccination.
Getty Images for iPic

It wouldn’t sound like how much smaller, but any shrinking is likely to ignite the invitations frenzy. Customers will not have to wear masks, although Cipriani staff will.

The event has always reflected the mood of the times – from the post-9/11 gloom to the exuberance of the years until 2019, when fortunes were made on new developments, giant leases and sales of billion dollar buildings.

It drew developers Larry Silverstein, Douglas Durst, Harry Macklowe, Bill Rudin, David W. Levinson, Stephen Ross and Steven Roth, super brokers Mary Ann Tighe, Stephen B. Siegel, John Cefaly and Mitch Konsker, wizards of investment-sales Doug Harmon, Darcy Stacom and Woody Heller, as well as big business bosses Dennis Friedrich, Ric Clark and Mike Fascitelli, who joked to Mechanic that if the party gets bigger, “You’ll have to move it. at the Javits Center. “

Realty Check has witnessed many memorable smiles over the years, like that of Harry Macklowe after Jamestown invested $ 300 million in his GM building and Rob Speyer beaming great reviews for his new Top Observation Deck. of the Rock.

There were also tough times, as Kent Swig dodging reporters as he was besieged by debt and a costly divorce of Macklowe’s daughter Liz.

Mary ann tighe
Mary Ann Tighe says that the return of the party means not only fun but also survival.
Paul Bruinooge / Patrick McMullan via Getty Images

After last year’s grim interlude, the show will return – with Mechanic returning as the ring boss, greeting everyone who arrives at the front of the room.


The city’s residential building boom is not in sight. Despite the city’s alleged “exodus” – much of which turned out to be false – the developers are all tripping over each other to build new apartment buildings.

Interestingly, very few of them will fall into the super-greats class that defined the pre-pandemic boom.

As reported by real estate construction tracker YIMBY, Building Department records for the second and third quarters of 2021 reveal that 19,052 new residential units are arriving in more than 1,000 new buildings. The YIMBY count had 45 projects of at least 10 floors, 268 of four to nine floors, and 720 of one to three floors.

The site called it a “testament to the industry’s enduring enthusiasm” for the Big Apple market. He said that if all the new projects were “built together as a single group, they would kind of be a small town in their own right, with a dozen or more low-rise house blocks and a large urban core with over 200 raise buildings, ”YIMBY said.

During this time, sale of existing residential real estate recently peaked in three decades.

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Newsrust - US Top News: New York's hottest real estate gala returns in December
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