Aldi has signed a lease at The Ellery, a luxury rental that spans 32 stories in the heart of Midtown Manhattan, New York.
The 25,000-square-foot grocery store, which is anticipated to open next year, will have a smaller footprint at 42nd Street on the edge of Times Square, one of the most heavily trafficked shopping and pedestrian corridors in the world.
“Opening our first store in the heart of Manhattan will be a significant milestone for Aldi as we continue to expand access to affordable, quality groceries in the most in-demand locations across the country,” said Chris Daniels, regional VP for Aldi.
“This location will allow us to provide New Yorkers with a simpler, quicker and more enjoyable shopping experience with great products at the lowest prices, every day.”
In addition to Aldi, The Ellery’s retail offering includes 19,000 square feet of ground floor space spanning 42nd Street to 43rd Street with multiple possible subdivisions.
The remaining retail space includes 160 feet of frontage and 18-foot ceiling heights, ideal for experiential businesses, neighborhood retailers or food and beverage spaces.
“Aldi signing a lease at The Ellery reflects the kind of strategic placemaking that drives long-term value,” said Jeffrey Kanne, president and CEO, National Real Estate Advisors.
George Tsapelas, SVP for Taconic Partners, added, “The Aldi flagship location at The Ellery marks a major milestone in the transformation of the Times Square area into a premier residential destination. Aldi is an ideal neighborhood partner, offering the West Side a much-needed grocery store that will resonate with our residents and the community.”
The Ellery’s global interest can be attributed to its luxury condo-level offerings, including expansive views on all sides, spa- and hospitality-level amenities, art installations and a rooftop pool.
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