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Old Navy Relocates in Manhattan’s Largest Retail Lease Year-to-Date
Old Navy has signed a long-term retail lease at JEMB Realty’s Herald Towers, 50 W. 34th St. The 55,000-square-foot Old Navy store spans two floors and will open in 2026. This agreement represents one of Manhattan’s top retail leases of the past five years, and reportedly is the top retail lease year to date in 2025.
“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. Old Navy will relocate from its existing space at 150 W. 34th St. to develop the brand’s next-generation flagship.
The new lease at Herald Towers showcases JEMB’s longstanding relationship with Gap Inc., whose founders Don and Doris Fisher once leased space in the same building for the company’s Gap brand.
Alongside Gap Inc.’s real estate team, Newmark vice chairman Ariel Schuster represented Old Navy in the deal. LMJ Realty, a subsidiary of JEMB, represented ownership in-house.
- ◦Lease
