10 Must Reads for the CRE Industry Today (May 26, 2015)

10 Must Reads for the CRE Industry Today (May 26, 2015)

 

  1. New York Real Estate Executive With ‘Access to Politicians’ Is at Center of Scandals “There are two phrases that Charles C. Dorego’s friends and colleagues use to describe him: ‘very smart” and ‘very charming.’” (New York Times)
  2. The Most Hated Company in the Retail Industry “The most hated companies in America have a knack for angering people. Whether it's due to inept management, subpar products, poor service, or lackluster stock performance, these businesses earn the wrath of customers, employees, and shareholders alike.” (The Motley Fool)
  3. Below the Surface Lies Retail “A busy street or a cranny in Manhattan’s soaring skyline is where developers usually look for their opportunities in New York City. Not Susan Fine, though.” (Wall Street Journal)
  4. One Vanderbilt Is Expected to Get the Green LightHere comes One Vanderbilt! It took 18 months of rugged negotiations, but on Wednesday the City Council is expected to overwhelmingly green-light Vanderbilt Avenue rezoning — allowing much larger new buildings to rise in the five-block corridor between East 42nd and 47th streets.” (New York Post)
  5. In Real Estate, Branded Content Is News “Big-name real estate services firms are joining the rush of businesses into new types of marketing that blur the lines between journalism and branding.” (Wall Street Journal)
  6. In Stadium Financing Game, Goldman Sachs Dominates “When San Diego Chargers executives needed help raising $1.7 billion for a football stadium in Carson, they turned to the professionals: Goldman Sachs.” (Los Angeles Times)
  7. Why Are There So Many Shuttered Storefronts in the West Village? “At the end of this month, the House of Cards & Curiosities, on Eighth Avenue, just south of Jane Street, in the West Village, will close its doors after more than twenty years in business. It was, admittedly, not a store whose economic logic was readily apparent. Along with artistic greeting cards, it sold things like small animal skeletons, stuffed piranhas (which were hanging from the ceiling), and tiny ceramic skulls. Nonetheless, it did good business for many years, or so its owner, James Waits, told me. Its closing leaves four shuttered storefronts on just one block. With their papered-up windows and fading paint, the failed businesses are a depressing sight in an otherwise vibrant neighborhood. Each represents a broken dream of one kind or another.” (The New Yorker)
  8. A New Kind of Co-op “Caroline Woolard first got the idea to invest in commercial property when she realized she would soon be priced out of her artist's studio in Brooklyn.” (Crain’s New York Business)
  9. SL Green, Vornado Among NYC’s 10 Most Profitable Public Companies “Real estate giants Vornado Realty Trust and SL Green Realty both had profit margins more than 20 percent in 2014, making them some of New York City’s most profitable public companies.” (The Real Deal)
  10. NAR Forecasts Modest Growth for U.S. Commercial Markets in 2015 “According to the National Association of Realtors' (NAR) quarterly commercial real estate forecast, a stronger labor market and increasing household formation should keep commercial real estate demand on a gradual incline.” (World Property Journal)
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