In the fall of 2023, the restaurant and bar Cowgirl decided to convert one of its margarita machines into one for frozen espresso martinis, “the new cocaine,” the owner joked to me.

Leap had evidence that its bet on the neighborhood would pay off: Several of its brands were already shipping often to apartments in the neighborhood. It was a strategy Brookfield Properties had already been pursuing pre-pandemic, buying up seven storefronts. (It sold them last year for $20.25 million.) “We merchandised to support the market,” said... See more