This week, we asked the taboo question about New York office to residential conversions . Do the numbers work? There's been enough distress from some of the OGs, including Nathan Berman , that it warrants that question amid all the private-credit billions flowing into the space. We then look at how a single man, Zara founder Amancio Ortega , can drive pricing across product types and markets – even though his buys may not really be pegged on real-world investment metrics. And finally, we go a little bit tabloid to talk about the case of David Bren , the embattled son of real estate tycoon Donald Bren – some real talk about fundraising and scions in there. To advertise: Reach out to
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[email protected] and please rate us and write a review on Apple or Spotify. Up your CRE game: Consider becoming a premium subscriber to The Promote to unlock access to expert CRE content. Founding memberships open now at https://www.thepromote.com/upgrade Further reading: Donald Bren - The Billionaire's Town: https://www.bloomberg.com/features/2025-irvine-california-housing-donald-bren/ A billionaire’s son sold investors on the ‘ultimate man cave.’ Was any of it real?: https://www.latimes.com/california/story/2025-10-06/david-bren-beverly-hills The Follieri Charade: https://www.vanityfair.com/news/2008/10/follieri200810?srsltid=AfmBOorhtO3gFoiBk5pL3BXDzBXUyPfwoJ-SVNmXUDTBR6Y9h7X_rayD Caveat Lender: https://www.thepromote.com/p/caveat-office-resi-lender-roosevelt-masala#caveat-lender A Costly Rescue Recap: https://www.thepromote.com/p/inside-the-debt-fund-game-underwater-rescues#a-costly-rescue-recap
