Vornado Realty Trust has named Newmark as the exclusive leasing agent for the next stage in its retail transformation in the Penn District on Manhattan’s West Side. The Newmark retail team is overseen by chairman of Global Retail Mark Masinter, who will work closely with Newmark’s retail vice chairman Karen Bellantoni, Jackie Totolo, Pierce Thompson and Nick Masinter.
The reinvention of Vornado’s retail holdings is a core component of its $2.5-billion revitalization of the Penn District campus. Vornado is now in the initial stages of creating a cohesive street-level retail experience along both sides of Seventh Avenue between 33rd and 34th Streets. Working with Newmark, Vornado will develop this corridor to complement its existing anchors, Macy’s and Primark’s 78,000-square-foot flagship store set to open this coming spring. Newmark will also work with Vornado on its Moynihan Retail Corridor, which serves as the central spine of the Moynihan Train Hall.
“We have methodically remade the Penn District as a 24/7 neighborhood for every occasion and every taste,” said Vornado EVP and co-head of real estate Glen Weiss. “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.”
