Times Square Trainwreck, Royal Renters and Blue Owl Bytes the Dust
From The Promote Podcast by ten31 Media
February 25, 2026 · 40 min · Episode 49
About this episode
The episode discusses the collapse of the TSX Broadway project, challenges in data center development, and the rise of wealthy renters in the real estate market.
This week, we look at the tragicomedy that is TSX Broadway , the Maefield/L&L/Fortress Times Square megadevelopment that came undone and left hundreds of foreign investors in the lurch. We discuss how complex ground-up projects can lay waste to capital stacks, and what can happen between partners under pressure. We then look at the latest alarm bells ringing in the high-octane world of data center development – Blue Owl is staring down a multibillion-dollar void, and OpenAI’ s marquee Stargate project has had major challenges powering up. Finally, we explore the rise of the rich renter – a trend that’s reshaping the multifamily – and condo markets. We also do a " Punch List " rundown of the newsiest industry happenings: Shvo selling Transamerica Pyramid in SF; the Kushner battle over Veris Residential ; Witkoff's Roosevelt Hotel cameo; ICE' s $38B warehouse shopping spree; and Stonepeak's marina moves. Sponsors: 1) This episode is supported by LoanBoss , the industry-leading debt management software. Featuring one-click covenant testing, instant cash flow forecasting, and our favorite nerdy delight: Live forward curves! Check them out at loanboss.com 2) This episode is…
Topics covered
- Times Square development
- data center challenges
- rich renter trend
- real estate market
- investment risks
Keywords
- TSX Broadway
- Blue Owl
- OpenAI
- real estate
- investment
- data centers
- rich renters
- multifamily market
- condo market
Sponsors
LoanBoss, Bravo Capital
Mentioned in this episode
Organizations: TSX Broadway, Maefield, L&L, Fortress, Blue Owl, OpenAI, Shvo, Kushner, Veris Residential, Witkoff
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