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If you’ve ever wanted to recreate that scene from Vanilla Sky where Tom Cruise is alone in the middle of Manhattan, now might be your chance! High-end retailers in the city center are vacant and desolate.
Luxury accessory company Valentine is suing to get out of its Fifth Avenue lease, Newman Marcus is shutting down for good, and Barneys, which closed before the pandemic, is still a ghost town. High-end retail used to be the best tenants in town in ritzy areas such as Chicago, Miami, and the famous Rodeo Drive in Los Angeles. The pandemic sure has shown a light on the essential-ness of this business though and it may never be the same. It’s hard to chalk it up as a tragedy that people can’t buy $2,000 earrings in person, especially since they still can online. But it sure is something to note that Harry Winston stores are more likely to be visited by zombies than debutants.
