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Real Estate Bisnow


If you look on a retailer’s shopping list, you’ll find “Being in NYC” next to the milk, bread, and toilet paper. And it’s not just one store, we learned at Bisnow’s second annual New York Retail Summit Monday.

We snapped New York Grant Co’s Pinar Guvenc, Winick Realty’sAlex Hill, Fidelity National Title’s Tim Oberweger, Choice New York Management prez Michael Feldman, and Brooklyn Law School student Rafe Serouya among our attendees. Alex and Tim recently returned from ICSC RECon, which they report was full of energy and optimism. Alex is marketing 36k SF of retail space (ground/basement) at 320 Eighth Avenue, which he says has gotten a lot of attention from national gyms. He also recently closed five deals on Seventh Avenue.

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City real estate pros schmooze it up during parties at ICSC

It’s become a cliche to say much of the deal making at the annual International Council of Shopping Centers retail bash RECon in Las Vegas takes place at the parties surrounding the convention, even if it’s true. To get a closer look, The Real Deal visited a handful of those gabfests, attended by dealmakers such as Vornado Realty Trust CEO Michael Fascitelli; Crown Acquisitions principal Haim Chera; and Robert Knakal, chairman of Massey Knakal Realty Services.

On Monday night, Newmark Grubb Knight Frank hosted a techo-pounding party at the Marquee Nightclub at the Cosmopolitan of Las Vegas hotel; Cushman & Wakefield held a more low-key affair poolside at the Four Seasons; and Massey Knakal hosted a small gathering at Il Mulino New York at Caesars Palace.

Earlier, on Sunday, The Real Deal attended the Shopping Center Group party at the packed Grand Ballroom of the Four Seasons.

Instead of finding the legendary bacchanals whispered of in real estate lore, The Real Deal discovered mostly traditional cocktail parties. Yet many were packed as brokers and landlords sought out their latest deals.

In addition, The Real Deal caught dealmakers — like Robert K. Futterman, CEO of Robert K. Futterman & Associates, and Lori Shabtai, executive vice president at Winick Realty Group, and landlords like Joseph Sitt, CEO of Thor Equities — walking the floors of the vast convention.

Today, organizers said they expect overall attendance for the four-day event, which ends tomorrow, to break 33,000. That’s up from last year, but off from the peak of more than 50,000 in 2007.

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THE REAL DEAL_052212_City real estate pros schmooze it up during parties at ICSC

Real Estate Weekly

RECon kicks off in Las Vegas

Retail brokers, shopping center owners, developers, investors and a host of other professionals have flooded into Las Vegas for the International Council of Shopping Centers’ annual RECon, a networking, eductational and dealmaking event that draws 30,000 participants each year.

The frenzy of dealmaking that takes place on the Monday and Tuesday of the convention is “the Superbowl of retail,” in the words of Newmark Night Frank’s Jason Pruger.

Some analysts predict that the recovering economy will lead to a busy convention this year, as retailers look to position themselves to take full advantage of growing consumer demand.

Author Malcolm Gladwell addresses participants of ICSC’s 2012 RECon at the Las Vegas Convention center Sunday afternoon.

The event, which occupies all three halls of the Las Vegas Convention Center, kicked off today with a keynote address by the best-selling author Malcolm Gladwell, who gave an outsider’s, birds-eye take on the role of retail businesses. In spite of conpetition from online sales, he said, the experience of shopping in brick-and-mortar stores still plays an important role in peoples’ lives.

“You’re not just in the real estate business, you’re in the business of satisfying real human needs,” he said.

Meanwhile, the socializing and networking extends well outside the convention center walls, where participants have taken over large chunks of space in Sin City’s many casino hotels.

By the pool or in the bar, participants say, the RECon sidelines are about relaxing, enjoying the sun, and getting to know the players in a highly competitive industry.

“Retail is tough,” Winick Realty’s Cosmo Montemurro said. “But at ICSC we leave the boxing gloves at home and bring our bathing suits.”

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