Off-price store to make New York City debut

The off-price wars are heating up in New York City.



Saks Fifth Avenue will open its first Saks Off 5th outlet in New York City, in a 32-story office tower at 125 East 57th Street, in March 2016. The store will feature a lobby entrance at street level, which will access two lower level floors.



“The addition of a new Saks Off 5th store at this strategic location will be a dramatic game changer for 57th Street retail east of Park Avenue,” said Charles S. Cohen, president and CEO of Cohen Brothers Realty Corp., which owns the property.



The opening in Manhattan is part of the company’s plans to open in high-density/high-traffic locations. As previously announced, Saks will open an Off 5th at One Liberty Plaza in downtown Manhattan in 2017.



On Friday, Nov. 20, Bloomingdale’s will open its first outlet location in New York City, on the Upper West Side of Manhattan. Macy’s unveiled its off-price format, Macy’s Backstage, in the New York City metro area in September.