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Feldman Focuses on Long-Term Interests

GREAT NECK, NY-The developer is focusing on properties that it is in the process of transforming. Feldman anticipates inking deals with major tenants within the next few months.

By Barbara Jarvie | Updated on November 12, 2005

(For more retail coverage, click GlobeSt.com/RETAIL.)

GREAT NECK, NY-While Feldman Mall Properties Inc. posted a net loss of $1.1 million for the three months ended Sept. 30, the company is focused more on its long-term interests than short-term profits. “While we’re disappointed in near-term earnings, the outlook in the long term is that we’ll prosper,” said Larry Feldman, the firm’s chairman and chief executive officer, during a third-quarter conference call.

One property under redevelopment that Feldman is particularly hopeful about is the Colonie Center Mall in Albany. “Colonie has the potential to be the most successful mall we’ve ever been involved in.” As mentioned in the company’s second-quarter call, Feldman says the firm is still searching for a joint venture partner on the redevelopment. “It makes sense due to the sheer magnitude.”

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