Retail in New York City, an installment series by PincusCo

Once upon a time in New York City, retail was an afterthought.

Back in the 1980s, office brokers did retail leases as a side gig; many of today’s big retail investors were just learning how to sell or manufacture stuff; and deals were much, much simpler to do.

That began to change as retail investors such as Jeff Sutton identified and harnessed the financial power of large chain stores, which he and others used to begin amassing large portfolios.

Brokerage houses slowly started to take notice, and brokers at formative firms like Garrick-Aug set out to launch new companies that focused on retail. Global firms began to develop their own specialized retail teams.

Retail today is at the center of a cultural and political upheaval, as internet retailers like Amazon force New York’s street and mall retailers to reconfigure the shopping experience.

PincusCo, through this installment series, will bring a new chapter to readers each Friday, looking at big investors like Sutton, Stanley Chera and Joe Sitt; at brokerage houses like Robert K. Futterman; at deals like American Girl; at the politics of retail; the geographic expansion and complexity of shopping districts and more.

First Installment: Check back in Friday for the first installment, an overview of the changes in New York City retail since the 1980’s. The installment includes portions of an interview PincusCo did with Jonathan Gray about working with Jeff Sutton, as well as veteran brokers reflecting on changes to the industry. If you’d like to comment, on or off the record, please send Adam Pincus an email at ap@pincusco.com.