Retail Real Estate

The National Retail Market Report is live! The country’s often vibrant, sometimes fading and always complicated retail prope上海千花网论坛 上海千花网rty markets

Remember when the Internet’s biggest proponents began to make bold assertions th爱上海龙凤419桑拿 上海龙凤论坛sh1fat brick-and-mortar stores and print magazines would become a thing of the past? In 2016, we beg to differ.

In fact, with the International Council of Shopping Centers’ annual RECon convention expected to bring 36,000 attendees to Las Vegas in the next few weeks, we felt it was the perfect time for The Real Deal’s first National Retail Market Report.

We surveyed the country’s often vibrant, sometimes fading and always complicated retail property markets and spoke with dozens of developers, brokers, analysts and other players about the latest industry changes.

On the ownership front, we surveyed the work of David Simon of Simon Property Group, the country’s largest mall operator, and his growing bet on the death of the anchor tenant. We also took an in-depth look at other major retail REITs and which ones are poised for growth in the months ahead.

On the geographic side, we analyzed the biggest retail developments across the nation, the most expensive shopping districts and some of the cities rapidly evolving to meet the needs of power-shopping millennials.

We ranked the most active retail brokerages and when we sized up the biggest property owners, we learned that while REITs and private equity f上海千花网交友 上海千花网论坛irms often run the show, three major stores own[……]

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ICSC New York 2016

Dealmaking kicks off early with ICSC weekend parties Show runners plan to move conference to Javits Center’s upper floor next year

Dealmakers attend ICSC s New York show in 2014

More than 10,000 retail brokers, landlords and tenants are expected to descend on the Jacob K. Javits Convention Center next week for the International Council of Shopping Centers’ annual expo. But seasoned pros know they don’t have to wait until Monday to start wheeling and dealing.

The festivities for this year’s ICSC conference – where organizers expect attendance to hit nearly 10,500, up from last year – start this weekend with two big parties.

Brookfield Property Partners kicks things off Sunday afternoon with a fête at its Manhattan West megaproject. The landlord is using this year’s trade show as an opportunity to formally launch the leasing effort for the project’s 250,000 square feet of retail, which is being handled by a team at JLL headed by Patrick Smith.

Later in the day, the Shopping Centers Group will host a bash at the Dream Downtown hotel in the Meatpacking District – a popular destination for ICSC parties ever since the expo moved to the Javits from the Hilton and Sheraton hote上海夜网 阿爱上海同城ls in Midtown in 2014.

“’ICSC’ and ‘parties’ are used in the same sentence more often than not,” said Acadia Realty Trust COO Chris Conlon, who added that one of the main draws – if not the top draw – of the expo is all the networking opportunities.

On Monday night, the Related Companie阿拉爱上海同城 爱上海龙凤419桑拿s is throwing a p[……]

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Westhampton Beach home of late media mogul sold for $12.2M

Th爱上海龙凤419桑拿 上海龙凤论坛sh1fe compound that belonged to telecommunications mogul Donald Pels and his widow Wendy Keys found a buyer last week, selling for $12.2 million, the New York Post reported. The 5.1-ac新上海贵族宝贝论坛 上海贵族宝贝交流区re spread was initially listed for $16.9 million. Spanning 5,700 square feet, the residenc上海贵族宝贝交流区 上海贵族宝贝论坛e at 119 Dune Road contains eight bedrooms and seven bathrooms. It features beamed ceilings, bay windows, a pool and a pool house that’s currently used as a billiards room. Saunders Associates’ Jeanmarie Braat had the listing and represented the buyer. [NYP]

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Tommy Hilfiger Apartment

A dose of reality for Mr. Hilfiger : Fashion designer cuts millions off price of Plaza Hotel penthouse Hilfiger’s penthouse has floated on and off the market

Tommy Hilfiger and his Plaza penthouse

Tommy Hilfiger is giving the market another go by re-listing his Plaza Hotel penthouse for $50 million.

That s a 37.5 percent discount from the last time the fashion designer listed the unit, the Wall Street Journal reported. Hilfiger most recently marketed the duplex for $58.9 million in November 2016 before yanking it off the market in April.

“It’s a dose of reality for Mr. Hilfiger,” Nikki Field of Sotheby’s International Realty, told the Journal. “Listings are energized by value-related prices. We really feel good about上海千花网 爱上海同城对对碰 this number.”

Hilfiger and his wife, Dee Ocleppo, purchased two units in the building in 2008 for $25.5 million. They combined the units to form a duplex on the 18th and 19th floors, which sp爱上海同城论坛 爱上海同城ans 5,600 square feet. The couple spent roughly $20 million renovating and combining the units. Hilfiger to爱上海同城 爱上海ld the Journal that they are selling the unit because he and his wife spend more time at their homes in Greenwich Connecticut and in Palm Beach, Florida.

“I’m of the belief that if it sells, it sells. If it doesn’t sell, I’ll just keep it,” Hilfiger said. [WSJ] — Kathryn Brenzel 

Tags: Plaza Hotel, Residential Real Estate, tommy hilfiger
We ar上海同城对对碰交友社区 上海夜网论坛e having som上海千花网龙凤论坛 上海千花社区e technical difficulties. Try again later.

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Imperial Companies

Fascitelli s Imperial Companies snags $134M refi for上海千花网论坛 上海千花网 Hudson Yards tower Restaurant in the West 38th St. building is expected to open this year

515 West 38th Street and Michael Fascitelli

Michael Fascitelli s Imperial Companies just landed a $134 million loan to refinance a 33-story rental tower in Hudson Yards.

MetLife provided the financing for the nearly complete 515 West 38th Street, according to document上海千花网龙凤论坛 上海千花社区s filed with the city s Department of Finance. The financing package included a new $30 million mortgage, consolidated with $103.4 million in previous loans.

Representatives for Imperial declined to comment on the deal. Cushman Wakefield s Steven Kohn, Gideon Gil, Adam Spies and Adam Doneger brokered the financing.

The rent上海贵族宝贝论坛 上海贵族宝贝al tower, known as Henry Hall, has 225 rental units and, according to fil上海千花网交友 上海千花网论坛ings with the New York state Attorney General s office, has two commercial condominium units, two residential condos and one with an unspecified use.

A two-story restaura上海夜网论坛 上海夜网nt run by Delicious Hospitality — dubbed Legacy Records — is slated to open sometime this year in the building. The restaurant will have an 85-seat dining room and feature “Mediterranean-influenced American” food, according to Bloomberg.

Tags: Hudson Yards, metlife, michael fascitelli, Real Estate Finance
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Greenwich’s main drag has fifth highest retail rent in the nation, JLL finds

With retail rents on Greenwich Avenue averagin爱上海同城手机版 新爱上海同城对对碰论坛g $86.53 per square foot, JLL puts Greenwich’s main commercial area to be the fifth most expensive street in the nation. Stores are paying a 177.4 percent premium to be on 上海贵族宝贝论坛 上海贵族宝贝Greenwich Avenue compared to the rest of Fairfield County, JLL found. San Francisco’s Sand Hill Road, New York City’s Fifth Avenue, San Francisco’s Mission Street and Cambridge, Massa上海贵族宝贝论坛 上海贵族宝贝chusetts’ Main Street were the locations th爱上海同城对对碰 爱上海同城论坛at cost more than Green爱上海龙凤419桑拿 上海龙凤论坛sh1fwich, the Fairfield Business Journal reported. [Fairfield Business Journal]

Tags: Westchester Fairfield
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Development plans considered at three Smithtown sites

Smithtown could soon see two new car dealerships and a 62-unit residential project, Town Supervisor Edward Wehrheim told Newsday. Although no plans have been submitted ye爱上海同城手机版 新爱上海同城对对碰论坛t, Italian car company Maserati上海贵族宝贝论坛 上海贵族宝贝 is considering moving onto a 6-acre site on Smithtown’s “Car Row” on Route 25. Used-car retailer CarMax is planning to demolish the Smithtown Concrete Products plant and build a $20-million-dollar dealership. A multifamily residential development is nearing town approval for the now-demolished Nassau-Suffolk Lumber 上海贵族宝贝 上海千花网龙凤论坛and Supply Corp. on Main Street. [N爱上海 爱上海同城手机版ewsday]

Tags: long island
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Nationwide Eviction Rate

The data s in: 83 million evictions later, there s a big problem A professor created a national database tracking evictions for the first time

L上海千花社区 上海千花网交友eft: Matthew Desmond at the 2017 National Book Festival. His book Evicted won a Pulitzer Prize in 2017. (Credit: back photo by Jerrel Catlett)

Princeton sociologist and professor Matthew Desmond combed through 83 million court records dating back to 2000 to create the first nationwide database of evictions.

Though it s incomplete in places, the result shows that displacement is far more routine than experts, including Desmond, knew until the database was assembled, according to the New York Times.

Desmond au上海千花网 爱上海同城对对碰thored the acclaimed book, Evicted: Poverty and Prof爱上海 爱上海同城手机版it in the American上海千花网 爱上海同城对对碰 City , in which he documented how evictions perpetuate a cycle of poverty among low-income tenants in Milwaukee, but his data project shows, by numbe上海贵族宝贝论坛 上海贵族宝贝rs, how often similar stories unfold across the country.

Some of the initial findings include that eviction is not correlated to market prices and, in 2016, landlords evicted one in every 50 tenants nationally. [NYT] Erin Hudson

Tags: eviction, Residential Real Estate
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L Train Shutdown

Why residents are turnin上海夜网论坛 上海夜网g on the 上海夜网论坛 上海夜网dirty, loud, terrible and disgusting” East Village The work, for now, is concentrated between First Avenue and Avenue B

(Credit: Postdlf/Wikimedia Commons, Pixabay)

The L train shutdown hasn t even begun, but neighbors are already feeling the headaches of construction.

In the East Village, workers are building a staging area from which construction in the train s East River tunnel will launch from, and it s driving business owners and residents to a breaking point, according to the New York Post.

“It’s like living in the middle of a war zone,” said Scott Francis, a Stuyvesant Town resident, to the Post. “It’s dirty, loud, terrible and disgusting.” Other residents report bright lights like the sun shining through their windows at night. And some of them are forking out as much as $3,800 in monthly rent to live in the worsening conditions.

Meanwhile, retailers are also reeling.

“I don’t know if we’ll make it through this,” said John Chang, the owner of Dion Cleaners, adding that his revenue has been halved over the last si阿拉爱上海同城 爱上海龙凤419桑拿x months.

The com爱上海同城论坛 爱上海同城mon complaint is the operation of loud equipment, including bulldozers and drills, from 7 a.m. to 12 a.m. Underground work is to begin operating 24/7 shortly, while the L train will officially shut down in seven months. [NYP] Erin Hudson

Tags: east village, l train, Residential Real Estate
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