May 2017 Issue

Building a Great Wall around money from China

Anbang Insurance Group’s bid for Starwood Hotels & Resorts Worldwide last year dropped like a bomb in the real estate and hospitality worlds. The Beijing-based insurance giant offered $13 billion for the company, seemingly out of nowhere. The March 2016 bid came as the hotel megachain Marriott International was in the final throes of negotiating to buy Starwood for $12.2 billion. After a counteroffer by Marriott, Anbang upped its bid… [more]

Fulton Mall in flux

From its post-World War II heyday as a department store hub that Abraham & Straus, Namm & Sons and Martin’s called home to its mix of low- and high-end stores… [more]

Deconstructing Tishman

As a handful of real estate bigwigs arrived on the 64th floor of One World Trade Center to hear Gov. Andrew Cuomo give his State of the State address —… [more]

The complicated legacy of Leonard Litwin

On the afternoon of April 5, four New York real estate dignitaries rose from… [more]

The lobbyist hit list

In the fall of 1991, a brash New York developer testified at a Congressional budget hearing, telling committee… [more]

Sellers get real. To a limit.

When Douglas Elliman’s Richard Steinberg took over a listing for an Upper East Side co-op last month, the first thing he did was knock $2 million off the $19.5 million… [more]

Robert Gladstone’s
risky business

A few months ago, a Chinese investor approached developer Robert… [more]

The Closing: Jed Walentas

Jed Walentas is a principal of Two Trees Management , the company founded by his father, David, in 1968. The firm — synonymous with the renaissance of Dumbo, Brooklyn — has… [more]

NYC neighborhoods
by the foot

Residents, commuters and tourists in New York City share the streets and sidewalks, but the buildings they own, rent,… [more]

Sizing up NYC’s biggest construction bosses

One Manhattan West will eventually become a glitzy office tower, but for now it’s a mammoth fort looming over Ninth Avenue — a thick concrete core, surrounded by a cage… [more]

Retail reset: navigating Manhattan’s cooling market

Less than three years ago, it seemed Manhattan’s retail market had no ceiling when it came to pricing. Asking… [more]

IPO Fever? Not quite.

On the morning of February 10, landlord and investor David Bistricer rang the opening bell of the New York Stock Exchange, where, surrounded by family and colleagues from his firm,… [more]

Tech darlings are different

Following the $3.4 billion IPO of Snap, the company behind Snapchat, on March 1, tech companies felt a gush of wind at … [more]

Hadid’s tower of hubris isn’t half bad

To say that Zaha Hadid’s recently revealed designs for 666 Fifth Avenue may never be built is, of course, an… [more]

A turning tide?

The number of property owners buying flood insurance has increased significantly since Hurricane Sandy struck in 2012. Now, shifting priorities in Washington and rising coverage costs could force city… [more]

Building sales on the wane

The city’s investment-sales market limped listlessly through the first few months of 2017, with dollar volume falling by more than 50 percent from the same time last year. What’s more,… [more]

The bar for Brooklyn resi sales just got higher

It can take years to shatter a New York City sales record, but in Brooklyn’s red-hot condo market, a trio of deals has raised the bar several times in the… [more]

Editor’s note: A problematic property market that needs propping up

The New York City real estate market really needs a shot in the arm right now — but is a painful kick in the pants more likely? President Trump’s tax… [more]

Inside the retail apocalypse

Just a few years ago, it seemed that Tunisian fashion designer Max Azria was at the top of his game. Kim Kardashian, Heidi Klum and Angelina Jolie were wearing his… [more]

Landlords chow down on eateries

Restaurants are the new black — black ink, that is. As more and more shopping centers see red, restaurants are helping them stay on the right side of the ledger…. [more]

Handling the new normal

Not long after he was named vice chairman and head of North America Retail Services for Cushman & Wakefield, Gene Spiegelman was summoned by then-CEO … [more]

New Jersey’s never-ending mall project

Future tenants of the beleaguered American Dream Meadowlands mall will have to wait a little longer before they can start… [more]

The state of RECon

With retail in the throes of a major transition, attendees are expecting a bit of a cloud over this year’s ICSC RECon in Las Vegas, billed as the world’s largest… [more]

Retail’s new sweet spot

Why endure the weeklong pain of a cold-pressed juice cleanse when there’s now a seven-day gummy bear cleanse? The tongue-in-cheek confection — “green juice” gummy bears packed inside… [more]

The art of sweetening the deal

Some of the recent statistics on retail leasing across the U.S. might sound a bit contradictory. Rents in many major markets nationally are still strong and in some cities, such… [more]

The tsar of Zara

Zara founder Amancio Ortega’s empire is rooted in retail, so it’d be no surprise if it were going the way of the current market: rapidly downhill. But as competitors like… [more]

High streets looking
low in 2017

Ralph Lauren is packing up its Polo store on Manhattan’s Fifth Avenue. In San … [more]

REITs keep it classy —
Class A, that is

Retail real estate investment trusts have taken a beating since the end of last summer, with many of the… [more]

Is e-commerce a frenemy?

These days everyone is trumpeting retail’s downturn, with each earnings call, retail conference and panel seeming to ending in the same rueful refrain. Recently,… [more]

Turning celebrity cachet
to cash

Seems there’s hardly a well-known entertainer anywhere who hasn’t caught the retail bug. Stores. Restaurants…. [more]

Editor’s note:
Survival of the fittest

A lot of thought went into whether to print such a dramatic quote on the cover of our second annual National Retail Market Report. While it’s a strong statement, the facts… [more]

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