Avison Young bolsters its New York City retail leasing team with two senior hires aimed at expanding advisory services across major U.S. markets. Christian Stanton joins as principal, moving from Alvarez & Marsal Property Solutions where he held senior vice president status. Libby Hodes also joins the leadership ranks.
The moves target retail leasing advisory work, a sector where brokerage services command premium fees. Stanton's background at AM-PS, a turnaround and restructuring firm, suggests Avison Young is positioning itself to handle distressed retail assets and complex leasing transactions.
For retail tenants and landlords in Manhattan, this matters. Stanton's experience in property solutions typically involves navigating tenant defaults, lease restructuring, and asset repositioning. His hire signals Avison Young's intent to capture more of New York's retail advisory work during a period when many mall operators and street-level retailers face pressure.
The broader context. Retail leasing in New York operates under supply constraints post-pandemic. Ground-floor spaces in prime locations command rents between $150 to $500 per square foot annually depending on neighborhood. Secondary markets remain softer. Landlords need brokers who understand both market rates and tenant financial health. Tenants need advisors who can negotiate favorable terms in a landlord's market.
Stanton's prior firm specialized in distressed situations, suggesting Avison Young expects continued volatility in the retail sector. This could mean the brokerage anticipates more tenant fallout, particularly among mid-market operators who lack the financial cushion of major chains.
For competing brokers like CBRE, Cushman & Wakefield, and JLL, this hire represents competitive pressure in a concentrated market. Avison Young already operates 110+ offices globally. Adding experienced retail specialists sharpens its competitive edge