The Real Deal New York

Gap and Old Navy to open in Bow Tie Building

The Times Square space is currently anchored by Toys ‘R’ Us

June 28, 2015 11:10AM

From left: 1514 Broadway and a Gap store

Talks have turned into a lease at the Bow Tie Building in Times Square, where Gap will open two new flagship stores.

Earlier this month, sources told The Real Deal that Gap was negotiating a deal to take either a portion or all of the 110,000-square-foot space at 1514 Broadway – currently anchored by Toys ‘R’ Us

The company is planning a both a Gap and an Old Navy store for the space, with each brand taking 31,000 square feet, according to the Wall Street Journal.

Gap Inc. will set up two new flagship stores for its Gap and Old Navy brands in Manhattan’s Times Square. Ariel Schuster and Justin Fantasia of RKF represented the tenant, while David Green and Brad Mendelson of Cushman & Wakefield represented the landlord.

Construction of the stores is expected to wrap up in early 2017. [WSJ]Christopher Cameron