Jacob Frydman undertook his first real estate investment while still in high school in suburban New Jersey. He continued investing in real estate throughout college and law school. Since then, he has acquired more than 5 million square feet of existing and to be developed real estate primarily in eastern United States, and has participated in acquisition and development transactions valued at over $2 billion.
For most of his 30-year career, Jacob has focused on value-added investments using his strengths in structuring, financing and executing highly complex real estate transactions. As an investor and lawyer assisting clients, he has conceived and executed numerous creative solutions for distressed or under- utilized properties. Jacob has developed a wide variety of properties from Florida to New York, including large urban office buildings, golf course communities, planned unit developments, urban retail projects, suburban office buildings, medical office buildings, financial center office projects, and assisted living facilities.
Some of Jacob's most notable real estate investments include the development of Two Dag Hamerjkold Plaza, an office condominium tower in mid-town Manhattan used solely by foreign governments as their missions to the United Nations; the re-development of the Aetna Building in lower Manhattan's financial district; the acquisition of the New York headquarters of telecom giant Global Crossing from Goldman Sachs, which he successfully revitalized as a mixed-use development; the purchase of the NBC New York television studios from General Electric Corp.; and the acquisition of 500 Tenth Avenue, which he re-developed into the DHL Center in Manhattan.
Jacob and his affiliates have recorded an annualized return on capital of 132 percent on 14 properties they have acquired and sold since 1996. He continues to own 13 properties acquired since 1996. Based on the distributions from operations, refinancing and sales, Jacob and his affiliates have already returned more than 2.5 times their invested capital on those properties.
In addition to United Realty, Jacob serves as the Managing Partner of Hudson-York Capital LLC, a real estate investment and development firm he formed in May 1995. Jacob is also a founding Managing Partner of Lambdastar Infrastructure Partners LLC, a firm focused on providing strategic advice on and investing in U.S. infrastructure projects.
Jacob believes in "smart growth" and strives to make his projects environmentally sound. He has been a guest lecturer on real estate finance at Columbia University's Masters of Real Estate Development program in the School of Architecture and as a participant in the Master's Lecturer series sponsored by New York Law School where he lectured on "Risk and Relative Risk in Business Transactions." He is a member of the Board of Directors of the Bardovan Opera House, home of the Hudson Valley Philharmonic. Jacob earned a B.S. in Finance from Boston University and a J.D. from Case Western Reserve University School of Law