One—or both!—of the Virgin Megastores in New York City could be on the chopping block, thanks to the chain of super-sized music outlets being sold to a pair of NYC real estate companies. Related Companies and Vornado Realty Trust will finalize their purchase of the 11 stores—totaling some 400,000 square feet of retail space—in September, and the New York
Post is speculating that the buy is in part a ploy to squeeze more cash out of the two New York City locations, both of which are paying low rent on long-term leases. The landlords who are getting those discounted rental payments? Take a guess:
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