Neiman Marcus bankruptcy could spell doom for Hudson Yards
By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
Retailer’s collapse would open the door for other stores to renegotiate or exit leases A view of Neiman Marcus in The Shops at Hudson Yards The anticipated bankruptcy of Neiman Marcus could throw Related and Oxford Properties’ Hudson Yards mall into peril. The parent company of the department-store chain is reportedly planning to file for bankruptcy protection within the week. The move would put Related and Oxford Properties in the precarious position of possibly having to renegotiate the retailer’s lease at the luxury Hudson Yards mall — and enter into conversations with other retailers whose lease agreements are tied to Neiman’s presence. “Losing Neiman would be a major setback for the Hudson Yards project,” Matthew Seigel of Lantern Real Estate told Business Insider. “Right now, Nei...
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