…  the pandemic has ravaged New York City’s real estate market and its premier, $25 billion development, raising significant questions about the future of Hudson Yards.

Hundreds of condominiums remain unsold, and the mall is barren of customers. Its anchor tenant, Neiman Marcus, filed for bankruptcy and closed permanently, and at least four other stores, as well as several restaurants, have also gone out of business.

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Even more perilous, the promised second phase of Hudson Yards — eight additional buildings, including a school, more luxury condos and office space — appears on indefinite hold as the developer, the Related Companies, seeks federal financing for a nearly 10-acre platform on which it will be built.

Related, which had said the entire project would be finished in 2024, no longer offers an estimated completion date.

The project’s woes are in many ways a microcosm of the broader challenges facing the city as it tries to recover.

Related said it was counting on wealthy buyers filling its condos and deep-pocketed customers packing the mall to make Hudson Yards financially viable.

But that was before the coronavirus arrived in New York.

With the pandemic forcing white-collar workers to stay home — and keeping foreign buyers and tourists away — it is not clear when, or if, demand will reignite for the vast supply of upscale aeries and blue-chip office space crowding the city’s skyline.1

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• 1. “The challenges facing Hudson Yards aren’t unique,” said Danny Ismail, an analyst and lead of office coverage for the real estate research firm Green Street. “All commercial real estate in New York City has been impacted by Covid-19. However, I would argue that post-pandemic, Hudson Yards and the area around it will be one of the better office markets in New York City.”