The Curious Case of Sears Holdings

The Case For Sears Holdings (SHLD) - Baker Street Capital (September 2013)  Baker Street’s property-by-property real estate appraisal found that at least $7.3bn of value lies at the top 350 owned and 50 leased locations (p. 4)  Real estate value is starting to be actively unlocked (p. 9)  According to REITs and mall owners, demand … Continue reading The Curious Case of Sears Holdings

Nugget: On Madison Square Garden Real Estate

From an article by Elliot Brown of the New York Observer: Given that Vornado owns essentially half the neighborhood surrounding Madison Square Garden, and Related is its 50-50 joint venture partner in Moynihan, if the two were able to get their hands on those air rights, they would be able to (eventually) remake the midtown … Continue reading Nugget: On Madison Square Garden Real Estate