Real estate broker Peter R. Friedman is the chairman of Friedman Equities, LLC, in New York. Outside of his real estate development career, Peter R. Friedman supports medical research and is on the advisory board of Weizmann Institute of Science. Recently, faculty from Weizmann Institute completed a study that showed it is possible for immune cells to identify, target, and destroy melanoma cancer cells more effectively. The research added to developments in the field of immunotherapy and its applications in cancer treatment. Immunotherapy in cancer treatment involves the injection of antibodies that power up the body’s T cells to identify and destroy cancer cells. The T cells identify cancer cells through certain physical markers that betray them as foreign bodies. These physical markers include mutated peptides on the surface of cancer cells called neo-antigens. With melanoma, however, the neo-antigens on cancer membranes are comprised of a protein complex known as HLA, which comes in thousands of variations. The multiple variations makes it hard to use neo-antigen detection as the basis of developing an immunotherapy drug for melanoma. Thankfully, the study led by Weizmann Institute’s Professor Yardena Samuels indicated a more effective way of identifying neo-antigens on melanoma cells. The study, which was published in the journal Cancer Discovery, also revealed the T cells best suited to destroy these neo-antigens. In the study, the researchers’ neo-antigen and T cell detection strategy was so good that their neo-antigenic specific T cells destroyed 90 percent of targeted melanoma cells in mice.
Based in Manhattan, Peter R. Friedman directs Friedman Equities, LLC, as chairman. In that role, he oversees coordinated investments and developments spanning several states. Among his representative deals, Peter R. Friedman acquired a 4.5-acre site in Stamford, Connecticut, and negotiated entitlement rights for a mixed-use development spanning in excess of 1.4 million square feet.As reported in the Commercial Observer, last year’s federal tax reform bill contains a provision that, though not specifically focused on real estate, has created tax incentives for the redevelopment of properties in specially designated areas, or Opportunity Zones. These zones are economically underserved and overlooked, and have been identified by state governors as such. They have also been approved as eligible by the US Treasury Department. Through the Opportunity Zones program, significant capital gains taxes can be deferred through 2026. Investments made in an Opportunity Zone, either as money within a “qualified opportunity fund” or as an individual asset, becomes fully exempt after a decade. This makes investments in redevelopment projects attractive to high-net-worth individuals seeking tax-deferred ways of reinvesting gains they have achieved on other investments.
Well established in New York real estate investments and commercial leasing, Peter R. Friedman has guided Friedman Equities, LLC as chairman since 1970. Reflecting a longstanding interest in medical advances, Peter R. Friedman holds a board position with the Weizmann Institute of Science. Established more than 80 years ago, the public research university is situated in Rehovot, Israel, and works to benefit humanity through research and discovery. One recent Weizmann study in collaboration with the National Cancer Institute found that nitrogen metabolism changes are often tied to the emergence of new cancerous tissue mutations. After making use of nitrogen, the body creates the nitrogenous waste product urea in the liver through several biochemical reactions. This cycle results in urea being expelled into the bloodstream and it later forms urine, which is excreted. The research at Weizmann’s Biological Regulation Department focused on a specific enzyme within the urea cycle that had been inactivated in a large number of cancerous tumors. The result was greater amounts of available nitrogen, which allows the organic substance pyrimidine to be synthesized and which supports tumor growth. Reflecting the complexity of cancer, the pyrimidine-related mutations also have cancer-fighting benefits in increasing their sensitivity to immune system attacks. The bottom line is that either too much or too little nitrogen within the human body has a negative impact.
Since the 1970s, well-known real estate broker Peter R. Friedman's development firm has shaped key areas of New York City and been instrumental in large commercial construction projects, such as the 1 million square-foot headquarters of famed advertising agency Saatchi & Saatchi. Peter R. Friedman has also expanded into desirable property markets in Connecticut and California and is developing a large-scale mixed-use property in New York City’s exclusive Wall Street area.In reaction to the growing preference of home buyers and renters for live, work, and play living spaces, mixed-use developments have become more commonplace. Taking advantage of the large properties left behind by failing department stores, developers are building entire communities containing retail, entertainment, residential units, and outdoor space together in one complex. By placing restaurants and entertainment venues within walking distance of multi-family units, these mixed-use lifestyle centers can offer suburban residents all the convenience of living in the center of a city. Most developers agree that the success of a lifestyle center hinges on retailers. To attract the residents that can pay the premium rents associated with high-end mixed-use developments, the complex should contain high quality sellers of necessities such as groceries and entertainment spaces such as casual restaurants, stylish coffee shops, and independent clothing stores.
