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Some Landlords 'Are Really About To Lose Their Building': Retail Power Broker Joanne Podell On The State Of Play In NYC

Bisnow's podcast, Make Yourself At Home, hears from members of the commercial real estate industry about how they are managing this new reality and gaining insight into their day-to-day approaches. You can subscribe on iTunes, Spotify and Amazon Music.

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Cushman & Wakefield Executive Vice Chairman Joanne Podell at the REBNY Ball in January 2019

On this episode, we speak with Cushman & Wakefield Vice Chair Joanne Podell, a veteran retail broker in New York City. She speaks about the future of luxury strips like Fifth Avenue, which areas have been the most affected by the coronavirus pandemic and what kind of deals landlords are cutting to get space filled.

For some landlords the consequences of the pandemic will be severe, she said.     

"There are two kinds of landlords," she said. "The landlords that are not overleveraged and the landlords that are really about to lose their buildings, unfortunately.”