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Vornado Realty Trust Appoints Newmark as Leasing Agent for Penn District Retail Transformation
Vornado Realty Trust has selected Newmark as the exclusive leasing agent for the next phase of its retail transformation in the Penn District on Manhattan’s West Side. This move is part of a broader $2.5 billion revitalization initiative aimed at reimagining the district into a vibrant, mixed-use destination.
Newmark’s retail team, led by Chairman of Global Retail Mark Masinter, will spearhead the lease-up efforts. He will be joined by Vice Chairman Karen Bellantoni, along with Jackie Totolo, Pierce Thompson, and Nick Masinter.
At the heart of the retail strategy is the redevelopment of street-level spaces along both sides of Seventh Avenue from 33rd to 34th Streets. This corridor will be strategically designed to harmonize with existing landmark retailers, including Macy’s and the soon-to-open 78,000-square-foot Primark flagship store, scheduled to debut in the spring. Additionally, Newmark will collaborate with Vornado on leasing opportunities along the Moynihan Retail Corridor, a key component of the Moynihan Train Hall complex.
“We have methodically remade the Penn District as a 24/7 neighborhood for every occasion and every taste,” said Glen Weiss, Vornado’s Executive Vice President and Co-Head of Real Estate. “The success of our transformative work is evident across all corners of the neighborhood. In partnership with Mark and the Newmark team, we will make the Penn District retail environment New York’s next big event.”
This collaboration marks a significant milestone in Vornado’s continued investment in the transformation of Midtown Manhattan, positioning the Penn District as a premier destination for both retailers and consumers.
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