Wednesday: MetLife Gets Out, Wal-Mart Gets In?

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Does Snoopy see rough seas ahead?

  • MetLife may sell its Peter Cooper Village/Stuyvesant Town development, whose 11,200 units makes it Manhattan’s biggest apartment complex. Met’s real estate guru Robert Mercke explains: “We believe current market conditions are very favorable” (which means: “Our enormous corporation is getting out of here before you-know-what bursts”). Trusty Wikipedia reminds us that Peter Cooper invented Jell-O, and that the development’s rent was recently boosted by 25% (which means we should have seen this coming). (Crain’s)
  • “The Greenmarkets need to find their niche”–or so says The Times‘ lengthy meditation on heirloom tomatoes, neighborhood warfare, food stamps and raw milk cheese. Apparently the summer’s ten new markets aren’t doing so hotly, notwithstanding the “star potential” shown at Orchard Street or East 82nd. Check them out on that splendid interactive map. (New York Times)
  • Why should you care about today’s opening of a downtown White Plains Wal-Mart? Because it’s an experiment in an “urban model the retailer hopes someday will work in New York City.” The Sun also speaks of “urban design” and “the urban consumer” in its breakdown of the in-store nail salon and Dunkin’ Donuts, providing commentary as subtle as old ‘Mart itself. (NY Sun)
  • The Gristedes market at Broadway and West 73rd gets slightly less classy: for at least the next 13 years, the two-story space will become Loehmann’s New York flagship. If those 37,000 square feet aren’t enough Loehmann’s for you, rejoice in the retailer’s plans for four more Manhattan stores. (Always the sweet talker, broker Brian Katz admits: “We’re really reviewing anything that comes available.”) (Crain’s)
  • Speaking of which, a shabby space at Fifth and 42nd–formally rented by the Thai government–will be turned into yet another H&M. In these times of war and uncertainty, this really is just what Manhattan needs. (NY Post)
  • Max Abelson

    Wednesday: MetLife Gets Out, Wal-Mart Gets In?