Old Navy signs lease for two-floor NYC flagship
Old Navy is planning to open a new flagship in the Big Apple.
The apparel retailer, a division of Gap Inc., has signed a long-term retail lease with JEMB Realty at Herald Towers in New York City’s Herald Square commercial area. Old Navy will relocate from its existing space at 150 West 34th Street to develop the brand’s next generation flagship in the heart of Herald Square, at the intersection of 34th and Avenue of the Americas.
The 55,000-sq.-ft. Old Navy flagship will span two floors and will open in 2026. The new store will offer a “differentiated shopping experience” that includes curated product assortments tailored to local shoppers and tourists, along with experiential and interactive moments to excite and engage customers.
The deal marks Manhattan’s largest of the year so far, according to JEMB.
“New York is the most important retail and tourism market in the world, drawing over 60 million visitors annually and we are thrilled to announce Old Navy’s new flagship is coming to such a prime location,” said Old Navy president & CEO Haio Barbeito. “As we look to modernize the Old Navy customer experience, this new location will enable us to deliver a fresh, immersive, digitally led experience that invites visitors and shoppers from around the world to come play with style.”
JEMB says the new lease at Herald Towers showcases its longstanding relationship with Gap Inc., whose founders Don and Doris Fisher once leased space in the same building for the company’s Gap brand.
“The retail space at Herald Towers is truly a crown jewel in New York City,” said Morris Bailey, chairman of JEMB Realty. “We have been committed to delivering a world-class tenant to contribute to the resurgence of the Herald Square neighborhood and the residents of the 700 apartments upstairs. We have done that with this lease with Old Navy. This is the perfect location to unveil a vibrant new retail experience.”
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JEMB’s portfolio includes 8 million sq. FT. of office, retail, residential and hospitality assets across New York, New Jersey, Florida, and Montreal, Quebec.
Old Navy operates more than 1,200 stores worldwide.
