Wellsford Real Properties, New York, has retained Lazard Freres & Co. to advise the real estate merchant banking firm on strategic options.WRP said it is looking at various financial and business alternatives, including a recapitalization, acquisitions, sales of assets, a liquidation, and a sale or merger of WRP, as well as other options that would keep WRP independent. WRP acquires, finances, and operates real estate, and also invests in real estate companies.

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