What Is Macy's Mezzanine?
Short-term horizon and risk of loss in real estate investments
The short-term horizon of the instruments makes them easy to exit. That usually comes from substitution with debt or a property sale. A healthy premium over senior debt rates is what Mezzanine investors demand.
There are a few disadvantages to the debt. Some property lenders don't make mortgage loans where the other lender has a mezzanine financing agreement in place, but they do try to get inter-creditor agreements that clarify their rights. Real estate investments are not insured and run the risk of loss, so keep that in mind.
Macy's Herald Square: A Shopping Center
The Visitor Information Center is located on the lower level of Macy's Herald Square and can make your shopping trip easier and more enjoyable. The center has discounted attraction tickets, maps, and other items. Macy's Herald Square is more than just a shopping center.
You can take the New York City Macy's History Tour, eat a breakfast buffet, get the latest on new styles at the Breakfast fashion show, or work with a personal stylist, all for free. You can take a merchandising tour, where you will learn why certain designers are placed in certain locations. At Christmas, you can visit Santa, marvel at the festively dressed windows, and visit the Holiday Lane shop, all at Macy's at Herald Square.
Macy's Herald Square Renovation
$400 million in capital will be invested by the company over the next four years. The additional selling space will allow for expanded assortments and upgraded presentations in key merchandise categories for customers who are younger than 30. Herald Square is a national and international symbol of the Macy's brand.
It is one of the top tourist attractions in New York City. It is the center of the Macy's Thanksgiving Day Parade. Macy's Herald Square has become a place to launch products and showcase their newest ideas for generations of fashion designers and celebrities.
1,600 construction-related positions will be created over the course of the project. The level of business in the Macy's Herald Square store is expected to increase as each phase is completed. Macy's will add about 800 new positions by fall of 2015, increasing the store's workforce to about 4,600.
Macy's internal planning, design and construction team is leading the Macy's Herald Square renovation program with master planning support from STUDIO V Architecture of New York. Component elements were designed by Highland Associates of New York, Kevin Kennon Architects of New York and Charles Sparks + Company of Westchester, IL. Macy's has sales of $25 billion in the fiscal year of 2010, which is one of the nation's premier retailers.
The Mackie Mayor Experience
You could eat the entire day at Mackie Mayor, without stepping out from under the amazing glass roof. Vendors offer vegetarian and vegan options.
The Jeans Experiment
There are 15,000 pairs of jeans on display on the third floor. Video screens and high tech elements have been installed in all the shops to give a more modern feel to the atmosphere.
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