A quintessential American apparel retailer is being displaced from its longtime home in Herald Square by the Irish multinational company Primark, records show.
Old Navy, which opened at 150 W. 34th St. in 1999, will close its 4-level store this summer, and lay off 95 of its employees to make way for the incoming tenant, according to an unemployment filing made public this week.
The Gap brand, which was founded in 1994, opened its New York flagship between Sixth and Seventh avenues right before the turn of the millennium, more than a decade before the building’s current owner, Vornado Realty Trust, acquired the property. Vornado purchased the 77,760 square-foot retail building for $355 million in 2015, records show, and retained Old Navy as the single tenant.
Last year, however, Dublin-headquartered Primark announced it was opening its first Manhattan storefront after several so far in Brooklyn, Queens and Staten Island. It’s set to move into the entire space now occupied by Old Navy in March 2026 with a starting rent of $105 per square foot, including all amenities, according to information from CoStar. The fashion retailer’s lease is set to expire in 2036.
It’s not clear why Old Navy is departing, whether its lease had lapsed, or how much it was paying per square foot for the nearly 78,000 square-foot space. Vornado declined to comment further on the terms of the lease agreement. It’s also unclear if the 95 employees will be relocated to another Old Navy location — there are still nine others throughout the city, including four in Manhattan, according to the company’s website, and Old Navy is rumored to be eyeing another location in Herald Square.
