Jacob Frydman – Committed to Supporting the Rhinebeck Jewish Center

Renowned real estate and private equity investor, Jacob Frydman is a devoted philanthropist and actively participates in programs and activities of New York’s Chabad of Dutchess County and The Rhinebeck Jewish Center as he takes a firm stance in pledging his time and personal funds to both organizations. Following a life-long career in real estate development and acquisition, a passion which began in high school when he made his first real estate investment, Frydman has been recently giving more of his energy to supporting local charitable establishments, following his retirement as CEO of a public Real Estate Investment Trust. Through the compassionate and proactive philosophy of the Rhinebeck Jewish Center, Frydman finds a powerful way to help those in need and to uplift the community spirit.

A native New Yorker, Jacob Frydman received a Bachelor of Science degree in Finance from Boston University and his Juris Doctor degree from Case Western Reserve University School of Law. During his 30-year career in the real estate industry, he acquired over five million square feet of property on the east coast of the United States and took part in procurement and development transactions valued at over $2 billion. His notable real estate projects include Two Dag Hammarskjöld Plaza in midtown Manhattan, which he re-developed, together with his long-time partner, Mitch Rutter, into a commercial condominium solely for foreign governments as their missions to the UN.  They also redeveloped the Aetna Building in lower Manhattan, and the DHL center in midtown Manhattan. In 1998 Frydman purchased the NBC New York television studios from General Electric, and from 1998 through 2010 he produced the log-running TV soap opera, “As The World Turns”, together with Proctor & Gamble. Having retired from his role as the CEO of a public Real Estate Investment Trust, Jacob Frydman continues to share his expertise in a consultancy service to developers and other businessmen within the industry, where he advises on highly complex special situations where he can enhance a property’s value, undertaking it alone or at times with partners. A long-standing philanthropist, Frydman is also a firm supporter of the Washington DC’s Brem Foundation, helping women in struggling communities at risk of developing breast cancer, and has served as a member of the Board of Directors of the Bardavon Opera House, home of the Hudson Valley Philharmonic.

Jacob Frydman – CEO & Chairman – United Realty Advisors, LP – LinkedIn: https://www.linkedin.com/in/jacobfrydman

Jacob Frydman – Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman

Jacob Frydman – Recaps the New York City’s History of Zoning

The first state in the country to enact zoning laws is New York, which set a precedence for protecting property values, reducing congestion, and making businesses more productive and safe. The Big Apple was proactive when it came to implementing rules and regulations for building restrictions, adjusting the accepted methods to prevent future degradation caused by poor planning. Native to New York, Jacob Frydman is an expert in current real estate, and appreciates the steps taken by predecessors to protect architectural integrity and urban development. What might have initiated the need for zoning regulation in New York, may have been the enormous Equitable Building, a 40-story apartment building capable of housing 16,000. This massive structure was built on an entire city block and diminished the availability of sunshine to residents in the area. The large number of people using the building caused heavy traffic and other difficulties. Consequently, the mayor, John Purroy Mitchel along with a committee of members commissioned laws that would eventually be issued by the U.S. Department of Commerce as The Standard State Zoning Enabling Act in 1924. This standard was accepted nationwide without changes.

 

Jacob Frydman notes that the history of zoning laws in New York is more complex than just one building. In the early 1900’s, the city was experiencing major growth. A speculative boom along the route of the new privately built subway was producing issues of congestion, blocking light and air and causing serious fire and safety hazards. A Manhattan politician, George McAneny wrote in 1913; “The time has come when efforts should be made to regulate the height, size and arrangement of buildings.” From there, a committee established the 1916 Zoning Resolution that put in place strict criteria with a height requirement that could not exceed the width of the road in front of the structure. The law also made clear distinction of specific areas to prevent factories and industry from encroaching upon retail districts. The initial laws remained unchanged until 1961 when additions were made to adjust for current conditions. The results are staggering. In 1910, the population of Manhattan was more than 2.3 million people, by 2010 that number was reduced to less than 1.6 million, the subsequent deduction is directly related to the zoning resolution.

Jacob Frydman – CEO & Chairman – United Realty Advisors, LP – LinkedIn: https://www.linkedin.com/in/jacobfrydman

Jacob Frydman – Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman

Jacob Frydman Highlights New Development Sales Projection for New York City in 2018

Jacob Frydman has become one of the nation’s top analysts of real estate trends in both the New York City and throughout the country. The property expert has recently offered his deeply knowledgeable response to CityRealty’s projection that condominium sales at new developments in Manhattan will exceed $10 billion by 2018. Recognized as a thought-leader in his field, Frydman has been a guest lecturer on real estate finance at Columbia University and in the Master’s Lecturer series sponsored by New York Law School, and has been interviewed numerous times on Bloomberg TV, Fox Business News, CNBC and other television networks.

Few if any are better positioned than Jacob Frydman to analyze expectations in the real estate market.  An expert in various segments of the industry — including industrial properties, hotels, and retail space as well as residential units — he addressed the value of condominiums during his guest appearance on Fox Business News on Nov. 4, 2014.  “Things you live in might not be an investment,” Frydman said.  “But if you’re thinking about it as an investment, condos fell less as a percentage than houses from the top of the market to the trough in 2009, and have recovered faster from the trough of the market in 2009 to today, by between 6 and 10 percent in major cities. …it might surprise most Americans, but buying a condo actually was a better investment play than buying a house.”

Jacob Frydman – CEO & Chairman – United Realty Advisors, LP – LinkedIn: https://www.linkedin.com/in/jacobfrydman

Jacob Frydman – Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman