Home Depot to Open 108,000-SF Store in Flatiron District

NEW YORK CITY-Home improvement giant the Home Depot will open a 108,000-sf store next summer in Chelsea’s Flatiron District, giving the retailer a presence in all five boroughs. The store will be located on the south side of 23rd Street, between Fifth and Sixth Avenues, with a second entrance on 22nd. It will have a street-level showroom, a lower-level retail floor as well as a mezzanine. This multi-level store is the latest of the company’s urban neighborhood format–Home Depot opened its first urban format store in Mill Basin, Brooklyn, in April 2002., followed by ones in Staten Island and in Chicago’s Lincoln Park. According to area brokers, the Home Depot paid between $35 to $40 per sf for the blended, multi-level space; street level space alone would go for $100 per sf.

“Manhattan has its nuances,” Jose Lopez, the Home Depot’s regional vice president for the New York Metro area, tells GlobeSt.com. “The product basket will be tailored to those needs. The new store will feature products and services geared toward residential and professional customers as well as commuters. Delivery services will be a key factor for the retailer. “You’re not going to wheel a washer and dryer out to a cab,” Lopez says. He notes that though larger bulk products won’t be in the store, they will be available for customers to purchase and have delivered.

“Our Manhattan store will offer customers the ability to purchase and leave with products, make arrangements for delivery or place special orders for any item sold by the Home Depot,” adds Tom Taylor, president of Home Depot’s Eastern Division. Several thousand sf will be used to showcase complete projects.