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If you love the thrill of hitting the discount racks, you'll soon have another way to score deals on clothing, home goods and more: TJ Maxx is opening a new store in Herald Square.
The off-price giant has signed a 40,000-square-foot lease for a new store on the corner of 34th Street and Sixth Avenue. When it opens, it will be TJ Maxx’s first new NYC location in more than a decade. In a retail landscape that’s lately been defined by closures, that’s a pretty big deal.
The new store will take over the former Gap space in Herald Towers, a historic building that was once the McAlpin Hotel before being converted into rental apartments by JEMB Realty. Gap left the corner in 2020, and since then the space has mostly sat empty, aside from a few temporary tenants.
The opening is a rare bright spot for Manhattan retail. According to reports, this is the largest lease for a brand-new store signed in the city this year or last. That’s notable when you consider that most recent large retail deals have gone to gyms, medical offices, fast food chains or schools. Big, old-school clothing stores just haven’t been making commitments like this.
Herald Square, once the undisputed heart of New York shopping, has been especially hard hit. Uniqlo, Forever 21 and Kay Jewelers have all pulled out of the area in recent years. Old Navy famously shuttered its four-story flagship down the block at 150 West 34th Street, a space that will soon reopen as a Primark. Old Navy is set to return to Herald Towers, however, with a new store slated to open later this year.
Together, those deals have pushed Herald Towers’ retail space to 95 percent leased. TJ Maxx will join a growing lineup that includes MooMoo and IT Italian Trattoria.
TJ Maxx has long been a go-to for discounted designer pieces, last-season labels and random finds. The company already operates several high-profile Manhattan stores, from Wall Street to Harlem, but a new outpost in Midtown puts that treasure hunt back where foot traffic and tourists are plenty.
“We are proud to welcome T.J. Maxx alongside Old Navy, further accelerating the resurgence of Herald Square retail and reinforcing the corridor’s role as one of the most important shopping districts in the country,” says Jacob Jerome of JEMB Realty.
The new TJ Maxx location is expected to open by the end of 2026.