Target Opens Newest New York Location

With Target’s newest store – a 110,000-square-foot, single-level location – set to open on Sunday at Manhattan’s East River Plaza, the company is already looking ahead to future opportunities to expand among the city’s prime real estate.

Sources told Women’s Wear Daily that conservative estimates for the new location are between $60 million and $70 million in annual sales, with some hoping for more than $100 million. The confidence is largely due to the success of Target’s Harlem and Brooklyn locations, which the company believes are already attracting shoppers from the inner parts of the island.

“[Target] has turned the spigot on again and is now actively looking in Manhattan,” one source told WWD. “They’re considering some things along the West Side. It may depend on how the [Harlem] store comes out of the box. Target’s Atlantic Terminal store in Brooklyn was a huge success and is consistently one of the top-performing stores in the chain. A lot of customers are going there from lower Manhattan. You can bet Target is going to study where the Harlem store’s shoppers are coming from.”