Thor’s $150M loan on 597 Fifth heads to special servicing
Thor Equities’ troubles at 597 Fifth Avenue are mounting. The firm’s $105 million commercial mortgage-backed securities loan tied to...
Retail
The Latest
National
Pandemic takes drastic toll on dry cleaners
At J’s Cleaners, business had clawed up to 40 percent of pre-pandemic levels last month. But now, with Covid-19 soaring again, that number is expected to plummet. “If this thing keeps dragging, many small...
Miami
Pharrell’s Billionaire Boys Club to open store in Wynwood
Billionaire Boys Club plans to open a store in Miami’s trendy Wynwood neighborhood. The Pharrell Williams-owned clothing brand inked...
National
Regal Cinemas in talks for rescue deal
The parent company of Regal Cinemas, the second-largest movie theater operator in the U.S., is hunting for a financial lifeline. U.K.-based Cineworld is in talks with investors for rescue financing or debt to fund...
National
Curtains: What to do with movie theaters
Even before the pandemic, Ari Benmosche realized that running his movie theater in a traditional sense wasn’t sustainable. The owner of the Lafayette Theater, a small venue in Suffern, New York, has shown the...
National
Target to open 40 new stores a year; Q3 income jumps
While Amazon is adding giant fulfillment centers to satisfy online orders, Target is bulking up on smaller stores to...
88% of NYC restaurants could not make October rent
Despite the return of indoor dining, restaurants are still struggling to make rent. A record high 88 percent could...
National
Studies suggest targeted lockdowns of restaurants, gyms, hotels to curb Covid
Going to a restaurant, gym or hotel? It may not be as safe as you’d think. A new study...
Insights
Here’s what tenants are paying at Vornado & Oxford’s 650 Madison
When furniture & houseware retailer Crate & Barrel decided in 2015 to close its Manhattan flagship at 650 Madison...
National
New York’s Covid-fueled retail apocalypse hits condo and co-op owners
As luxury stores remain shuttered, the pandemic and economic fallout are sparking a rift among owners of residential and...