Steven Roth: I think normal is more like 70%. Because there’s always people that were traveling not in the office and what have you. So to try to get to 90% is fictitious. So I mean, I think we’re getting close to 60% now on Tuesdays, Wednesdays and Thursdays. I think you can assume that Friday is dead forever, Friday is going to be, Friday is going to be a holiday forever. Monday is touch and go. So I think that the world is coming back to normal slowly but surely. So multiple things are happening. Number one, every boss wants his people back. Number two is now many of the people want to come back they find that being alone, they find that they want to come back with their colleagues, they want to get back into the activity, excitement and what have you of collaboration and being in the city.
So slowly over time, I think that that will revert to normal. Your question was, what powers the bosses have? Well, some of the bosses have total power and some of the bosses have no power. And I can’t comment on that either way. But the most important trend is people are wanting to come back themselves, employees actually do want to come back.
Operator: The next question is from Alexander Goldfarb with Piper Sandler. Please go ahead.
Alexander Goldfarb: Hey, good morning. Morning, Steve. And first, on 350. Park. Awesome, awesome deal. So well done to you and Michael and everyone. So that’s awesome. I have two questions. First, on the retail JV the impairment that you guys took. What prompted that? And big picture as we think about the rents that are in place versus the market, and it seems like the market is has settled and hopefully is recovering. Where would you peg the mark to market? And then do you think that there will be future impairments? Like is this an annual exercise, just trying to get some more color on this.
Steven Roth: Well I can’t predict the future knowing that I want to. It’s a rigorous process. The map shows that there was an impairment, and we do what the math shows. So there is that. What the market rents are is something that it’s a very thin market. There are not a — there are very few transactions on Fifth Avenue and at Times Square. So you can make the assumption that this is still a sluggish impaired market. It hasn’t recovered entirely. There is not the same lust for space that there was five years ago. But that we’ll come back to for sure.
Alexander Goldfarb: Okay, and then the second question is, you guys appeared in the press recently, that you’re still in the hunt for casino. It’s been a while since you talked about movie studios. The Manhattan mall seems to be a great spot for potential studios. So just sort of an update of what you can provide us. Do you have an operating partner for studios? Do you have an operating partner for Casino? Or are both of those two items things that more are back burner and less front of house, if you will?
Steven Roth: The answer is yes and yes, in terms of operating partners, and no, they’re not really back burner.
Alexander Goldfarb: Anything more to elaborate or?
Steven Roth: Not really. I mean, we have a wonderful Manhattan property that is going to be converted to studios. We have a great operating quad that we are in conversation with multiple users and the demand is actually, very actually extraordinary. With respect to the casinos, I don’t have a lot to say. We’re still modeling and studying and thinking what have you heard about that. We have a great site, and whether we throw it into the game is to be decided.
Operator: The next question is from Vikram Malhotra with Mizuho. Please go ahead.
