New York, NY Retail deals completed on Fifth Ave. and in Times Sq. were announced as the top retail transactions of 2016 at the Real Estate Board of New York’s (REBNY) 19th Annual Retail Deal of the Year Cocktail Party at Club 101 last night. Joanne Podell, executive vice chairman at Cushman & Wakefield, was honored with The Most Ingenious Retail Deal of the Year that demonstrates exceptional broker acumen (ingenuity and creativity) for her deal: “From the Back of a Napkin to a Flagship: How Ice Cream Sundaes Brought Nike to 650 Fifth Avenue”. This is her third time winning a REBNY Retail Deal of the Year Award.
As the New York City investment property market continues to cool off, echoing 2016’s trend, there is still plenty of heat in The Bronx. Real estate investors in the borough have enjoyed enviable returns and prices are poised to appreciate further, particularly in the South Bronx, where multifamily assets offer value relative to other areas of the city.