Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
"General Growth Properties, one of the largest mall operators in the nation, filed for bankruptcy early Thursday morning in one of the biggest commercial real estate collapses in United States history," reports the Times blog Dealbook. What does this mean for New York? Well, General Growth owns the South Street Seaport, so all those grand plans for development down there might now be on hold. [NYT]