Old Navy has signed a long-term retail lease with JEMB Realty (JEMB) to build a new 55,000-square-foot flagship at Herald Towers in the heart of New York City’s Herald Square.
The store is set to open in 2026 and will span two floors. Old Navy will relocate from its existing space at 150 West 34th Street to develop the next generation flagship, which will feature curated product assortments tailored to local shoppers and tourists, along with experiential and interactive moments to excite and engage customers.
“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 Haio Barbeito, President and CEO of Old Navy in a statement. “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 also owns the Herald Center, which is located across the street from Herald Towers and home to the world’s largest H&M. Herald Towers was built in 1912 and served as the Hotel McAlpin until it was converted to residential use in 1980. The 25-story, 1 million-square-foot mixed-use building offers 700 residential units and approximately 100,000 square feet of retail space on the ground floor.
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“The retail space at Herald Towers is truly a crown jewel in New York City,” said Morris Bailey, Chairman of JEMB Realty in a statement. “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.”
Herald Square has undergone a massive transformation over the past three years, including upgrades to the area’s transit infrastructure and the development of pedestrian-friendly urban spaces, some of which was funded by Macy’s, whose won historic flagship anchors the area.
