Brookfield Taking Big Loss On Fifth Ave Retail Deal

A great retail reset is underway as owners of pricey shopping properties unload them at a loss. In the latest sign of the sector’s decline from its once-dizzying heights, Brookfield Property Partners is selling its block-long retail condo at 530 Fifth Avenue for around $190 million — roughly a third less than the $295 million it paid for the property near the height of the market in 2014. Read more at The Real Deal.