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New York City — JEMB Realty (JEMB) has secured a 55,000-square-foot lease for Old Navy at 50 West 34th St. at the center of Herald Square in Manhattan. The space — which was formerly occupied by Samsung and the Harry Potter Experience — spans two floors and will serve as a flagship store for the brand. The retail lease is the largest in New York City so far this year, according to JEMB.
Ariel Schuster of Newmark, along with Gap Inc.’s real estate team, represented Old Navy, while LMJ Realty, a subsidiary of JEMB, internally represented ownership in the lease negotiations.