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Vornado Launches $2.5B Revitalization of Midtown Retail Corridor

2/3/2026

39 8 Full Breakdown

Summary

Story summary

Vornado Realty Trust appointed Newmark as the exclusive leasing agent for Midtown's Penn District.
The project will create a cohesive Seventh Avenue retail corridor between 33rd and 34th Streets.
Macy’s and Primark will remain anchors as the corridor develops.
It is part of a $2.5 billion revitalization plan that includes the Moynihan Retail Corridor.
Demolition starts later this year, with completion in 2027.

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Story summary

Vornado Realty Trust appointed Newmark as the exclusive leasing agent for Midtown's Penn District.
The project will create a cohesive Seventh Avenue retail corridor between 33rd and 34th Streets.
Macy’s and Primark will remain anchors as the corridor develops.
It is part of a $2.5 billion revitalization plan that includes the Moynihan Retail Corridor.
Demolition starts later this year, with completion in 2027.