New York City mayor Bill de Blasio said on 21 May that “all roads” lead to partial reopening of stores and businesses by mid-June. It was an unexpected upbeat note amid the prevailing gloom.
The Big Apple’s devastated retail scene trembled even more with news that Nordstrom is to close 16 of its 116 full-line stores across the US and Neiman Marcus has filed for Chapter 11 bankruptcy.
New York governor Andrew Cuomo has announced a region-by-region, four-stage plan to reopen the state’s frozen economy, starting with industrial and manufacturing work on 15 May. Three upstate regions have the green light on that date.
While most New York City investment-sale and leasing transactions may remain stalled for months more, restoring life to dark office towers, some could come sooner.
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