'Retail is obviously struggling,' Related Companies Chief Executive Jeff Blau told CNBC's 'Squawk Box' Thursday morning.
The owner of the Hudson Yards mall as well as The Shops at Columbus Circle in the Time Warner Center building in New York City said Related is collecting just over 50% of retail rents for its malls in Manhattan.The city has not yet set a date for when malls will be able to open for business again. But Blau said he is hopeful Related will be given the green light to reopen Hudson Yards and The Shops at Columbus Circle as early as next week.
has allowed malls in other parts of New York state to welcome shoppers again, with added precautions.
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