The developer that brought the first Apple store to Brooklyn and bet big on the borough’s retail market is in for some humbling news. RedSky Capital’s partner on the $1 billion portfolio they share is about to write down the value of that real estate by as much as a third. The partner, Manhattan-based investment firm JZ Capital Partners, is bowing to the reality that prime Brooklyn retail rents have sunk and some RedSky projects
source https://therealdeal.com/2019/11/27/williamsburg-whiz-kids-facing-major-markdown-on-1b-retail-portfolio/
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