Friedland’s next generation diversifying with resi plays

From the December issue: Back in 2008, William and Rick Friedland stopped to visit a two-story, red-bricked retail building on Madison Avenue that their family had purchased in the 1970s.

The Georgian-style structure was originally constructed as a taller Moorish-style synagogue in 1885 but underwent a series of quirky design reincarnations over the years, prompting New York Times columnist Christopher Grey to describe it as “just the kind of Oddity That Makes Madison Avenue fun.”

But for William and Rick — second-generation members of the Friedland retail dynasty — the building, 746 Madison, represented more than just a historic asset. For them, it was an opportunity to wade into the world of New York residential development. [more]