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While super-luxury stores aren’t expanding like they did pre-recession, Manhattan’s seeing an influx of more affordable retail, says Madison Capital founder Richard Wagman, whose firm owns$1.2B worth of retail assets in NYC. Richard will be joining us forBisnow’s NY Retail Summit on March 31 at the Roosevelt Hotel.
Madison Capital's Richard Wagman
Who are these tenants? They’re drug stores like CVS and Duane Reade, concept grocers like Whole Foods and Trader Joe’s, and fast-fashion retail like H&M and Zara, Richard says. One particular growth segment is the food and beverage industry, which is opening up restaurants across the spectrum, including fast food, high-end, national and local chains, and individual eateries. Some of these, likeShake Shack and Rosa Mexicano, are attracting people to visit particular neighborhoods, he says. Hear more from Richard, including Madison Capital’s $300M portfolio expansion, when he joins Thor Equities CEO Joseph Sitt, CBRE EVP David LaPierre, DLC Management Corp CEO Adam Ifshin, Kimco prez of Mid-Atlantic and Northeast shopping center regions Tom Simmons, Robert K Futterman & Associates EVP Karen Bellantoni, FTI Schonbraun McCann Group senior managing director Jahn Brodwin, and Cole Schotz real estate chair Richard Abramson to discuss the latest in the hot sector. Great schmoozing too! Register here.