A Neiman Marcus Bankruptcy Could Mark a Major Blow to NYC’s Glitzy Hudson Yards
Real Estate partner, Dena Cohen was quoted by Business Insider discussing the news that Neiman Marcus Group is preparing to seek bankruptcy protection. At Hudson Yards, where Neiman Marcus acts as the anchor tenant of the upscale shopping center, the situation has yet to play out.
The article states that "Related and Oxford, two of the city's most ambitious developers, are facing the prospect of a potential renegotiation where they may have little choice but to offer Neiman Marcus even more favorable terms to remain as the centerpiece of the glitzy mall."
Dena commented, "I don't see how Related has too many choices right now... If you have a tenant in place right now, you have to be out of your mind to try and change anything because the market is so uncertain and volatile."