Steve Roth: NYC Retail Might Never Fully Recover

New York’s high-street retail landlords might never again collect the astronomical rents of the pre-pandemic era, Vornado Realty Trust’s Steven Roth said Tuesday.

Roth and other Vornado executives on an earnings call described a “startling” retail recovery across the country that has included malls and shopping centers. But big cities, including New York, have been laggards, despite a “booming” luxury segment where brick-and-mortar sales outnumber online ones. Read more at The Real Deal.