# Times Square Trainwreck, Royal Renters and Blue Owl Bytes the Dust

Page: https://stenobird.com/podcast/the-promote-podcast-7245267/times-square-trainwreck-royal-renters-and-blue-owl-bytes-the-dust
Text version: https://stenobird.com/podcast/the-promote-podcast-7245267/times-square-trainwreck-royal-renters-and-blue-owl-bytes-the-dust.md
Podcast: [The Promote Podcast](https://stenobird.com/podcast/the-promote-podcast-7245267)
Published: 2026-02-25T11:30:00+00:00
Episode link: https://share.transistor.fm/s/a0fa1f26
Audio file: https://media.transistor.fm/a0fa1f26/4803bdbe.mp3
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JSON: https://stenobird.com/v1/public/podcasts/the-promote-podcast-7245267/episodes/times-square-trainwreck-royal-renters-and-blue-owl-bytes-the-dust
Duration seconds: 2397

## Resource

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 supported by Bravo Capital , a leading HUD and bridge lender. See how their precision underwriting means quicker approvals and higher proceeds for sponsors by visiting bravocapital.com And download their new SNF snapshot at https://bravocapital.com/the-silver-wave/ To advertise: Reach out to partnerships@thepromote.com For feedback: Write us at podcast@thepromote.com And please rate us and write a review on Apple . Up your CRE game: Consider becoming a premium subscriber to The Promote Insider to unlock access to expert CRE breakdowns, behind-the-deal stories, scoops, discounted swag and events and m…

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## Transcript

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