Seventh Avenue between 33rd and 34th Streets. Photo © 6sqft
Vornado Realty Trust’s Penn District in Midtown East will grow further as the firm teams up with another major real estate company to create a new retail corridor along Seventh Avenue between 33rd and 34th Streets. On Monday, Vornado announced that Newmark has been named the exclusive leasing agent for the next stage of the Penn District, which will feature a street-level “retail experience” alongside existing anchors Macy’s and Primark, whose 78,000-square-foot flagship is set to open this spring. Newmark will also assist Vornado in developing the Moynihan Retail Corridor, the primary commercial hub of Moynihan Train Hall.
The retail corridor is central to Vornado’s $2.5 billion Penn District project, a reimagination of the area surrounding Penn Station as a dynamic, mixed-use neighborhood with world-class office space and public amenities, anchored by the world’s largest transportation hub.
Over the past decade, Vornado has redeveloped more than five million square feet of Class A office space, created more than 300,000 square feet of public plazas, and developed 1.1 million square feet of new retail across its Penn District properties…