Haddad Brands Sells Ground Lease of The NoMad Hotel

Haddad Brands Sells Ground Lease of The NoMad Hotel

Fried Frank acted as counsel to The Haddad Organization Ltd. (Haddad Brands) in connection with its US$77 million sale of its fee interest in 1170 Broadway to Safehold Inc. 1170 Broadway is ground leased to the 168-room NoMad Hotel in New York City. Safehold, Inc. is a REIT specializing in acquiring ground leases. Fried Frank also advised on litigation related to ground lease disputes.

The Fried Frank team included real estate partner Jonathan L. Mechanic, real estate litigation partner Janice Mac Avoy, litigation associate Catherine Bushong, and real estate associate Danielle R. Frank.