Vornado Realty Trust announced it has named Newmark as the exclusive leasing agent for the next stage in its retail transformation in THE PENN District on Manhattan's new West Side. Vornado has tapped the Newmark retail team 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.
Over the past decade, Vornado has redeveloped more than 5 million square feet of Class A office space, introduced more than 300,000 square feet of inviting public plazas, and led a series of public-private partnerships to enhance the area's transit infrastructure. In conjunction with these projects, Vornado has developed 1.1 million square feet of new retail throughout its PENN District holdings. The newly created space is now home to a wide array of retailers, including more than 70 curated food and beverage purveyors.
Plaza 33, the newly landscaped pedestrian square, is populated with a series of standout restaurants including The Dynamo Room, Bar Primi and Blue Ribbon Sushi & Steak. Working with Newmark, Vornado will develop this corridor to complement its existing anchors, Macy's and Primark's 78,000 sf 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.
