2) Not One, but Three Retail Cores
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The three retail magnets: Brookfield Place, Westfield's WTC retail, and South Street Seaport. Brookfield retail leasing head Ed Hogan (second from right, whom we snapped with RK Realty Advisors' Larry Rose and Brookfield's Jason Morrison and Alex Liscio) says the commitment of brands to Lower Manhattan has made the submarket (really a world-class city in its own right) a global stage. The international appeal applies to residential, as well. Wealthy world citizens could live anywhere, he says, and they're choosing Downtown.
Westfield's David Ruddick (right, with Maury) says his firm's $1.4B investment in WTC retail (after buying out partner Port Authority last week) is its largest in the world and that tenant announcements are coming soon. Silverstein co-CEO Marty Burger sums it up: 900k SF of new retail at the WTC and Brookfield, all connected. And on the East River, Chris Curry says, his firm is remaking South Street Seaport for Downtown residents. Tourists will always come for the view of the Brooklyn Bridge and to see the tall ships, but HHC wants its development to be a place locals would visit daily.