Jonathan Iger

How f@*$ed is retail?

The road to recovery for retail will be long and with peaks and troughs. COVID-19 had accelerated the demise of stagnant retailers and revealed the overall vulnerability of the sector.

The issue with retail is two-sided. For some retailers, it is the lack of creativity when it comes to meeting the changing needs and behaviors of consumers, from addressing sustainability to creating on-site moments. Department stores have not provided the level of service, convenience, and allure that they once had decades ago. The closures of those businesses, often considered as institutions, while disheartening, were not surprising.

On the other side of it, property owners need to align rents to where retailers can afford to go, beyond staying afloat, but have the room to experiment and to grow. As for its long-term prospects, I do see retail realizing its heyday for consumer engagement and product discovery. It may just take some time and collaboration between retailers and landlords to create spaces and places where brands can be born, made, and located in NYC.

Has your “dead to me” list grown?

Yes, and with good reason. We are stewards of the built environment and value creators for the city, sustaining jobs and the NYC budget. At Sage, we work hard to support our tenants during these trying times, and fully acknowledge the economic impact this has had on most of our customers. Our reputations are built on how we handle ourselves during difficult times.

There are those who have acted in bad faith and impaired the reputation of our industry. There is a reason why Sage has been around for almost a century. We try to do what is right for our constituents in high times and otherwise. A recent study found that one office job supports five service jobs. It is our civic duty to support the entire ecosystem that makes this city irreplaceable: food and hospitality, arts and cultural institutions, public transportation, and parks and open spaces.

What do you think will NOT go back to normal?

Space decision makers are savvy and have a responsibility to their employees. They will start to expect more from their property management company.

Prior to COVID-19, we have been taking the approach of being our tenants’ partner in productivity, rather than just a landlord. We provide dynamic, innovative business solutions to the companies across our portfolio, so that they can focus on their core business, attract and retain the best talent, and grow and scale. We have been on this path, prior to COVID-19, and are excited to see this trend accelerate.

When health and safety become top priority, transparency will no longer be optional. Tenants will scrutinize cleaning specs, inquire about the air filtration systems, and demand to know how property management plans to keep them safe into the future. At Sage, we have taken a holistic approach to designing and maintaining spaces that advance the well-being of our tenants, staff and guests. It starts with using certified-safe, chemical-free cleaners and MERV [Minimum Efficiency Reporting Value] filters at levels higher than the ASHRAE [American Society of Heating, Refrigerating and Air-Conditioning Engineers] base requirement for improving the operations of our third-party cleaning companies, and utilizing technology to collect data, anticipate issues, and communicate this information.

Who do you like for mayor in 2021?

I would like a pragmatic civic leader to be the next mayor. Someone who will ensure that the city continues to be the economic and cultural capital of the world. A mayor who can address the social inequities of our city while supporting pro-business policies.

LIGHTNING ROUND

Where’s your apocalypse bunker? I’ll hijack David Geffen’s yacht, if it comes to it.

Favorite at-home quarantine foods? Outshine Pineapple Fruit Bars and take-out to support local restaurants.

Did you gain or lose weight during quarantine? Stayed the same, or so I tell myself.

Sourdough bread, banana bread, other? Sourdough bread but, unfortunately, it still needs to be baked by someone else.

Which TV show have you binged? “Cobra Kai” and “Fauda.”

What restaurant did you go to when restaurants reopened? Avra, Pastis, Loring Place and Craft

Mayor de Blasio: Best Mayor or Best Mayor EVER? I don’t understand the question.

Best work-from-home hack? Prepare lunch the night before, if you want to eat the next day.

Where did you quarantine? Earlier on, I was in Litchfield, Conn., and have been back in the city full-time since June.

Biden, Trump or Kanye? Biden. There is no other option today for this country and our city.