French Luxury Department Store Opening First U.S. Store At One Wall Street
French luxury department store Printemps is opening its first U.S. store on Wall Street in New York City.
Printemps has signed a lease for 54K SF at the landmarked One Wall Street building, a nearly 100-year-old art deco skyscraper converted from an office building to luxury condominiums and retail by Macklowe Properties.
The U.S. store, which is expected to open in spring 2024, will take up two of One Wall Street’s 50 floors and will have a store facade along the property’s Broadway frontage, according to a release. Macklowe incorporated a large, polygonal glass element into the space Printemps is now set to occupy, evoking the Apple Cube it developed on Fifth Avenue.
"The US is essential in our international development strategy and opening in New York offers high visibility and growth potential," Groupe Printemps CEO Jean-Marc Bellaiche said in a statement. "It is also a strategic ecommerce market for luxury, fashion, home, and beauty. We plan to pioneer a new format of experiential retail in this fast changing and demanding market."
The retailer plans to bring a local focus to its NYC outlet, according to the release, integrating omnichannel experiences into the store.
Laura Lendrum, who helped prestigious designer brands Saint Laurent, Gucci and Ralph Lauren run their North America operations, will oversee the department store’s launch as CEO of Printemps America.
One Wall Street also contains one of NYC’s rare interior landmarks — a designation applied to only 50 spaces — for its Red Room, which the release names as one of the future store’s highlights. Parisian interior designer Laura Gonzalez will oversee the design of the store’s interior, which is planned to be a mixture of Parisian and New York influences.
Health and lifestyle club Life Time announced Thursday that its 74K SF location at One Wall Street, one of three athletic clubs it plans to debut before the end of 2022, is open. Four floors of the building are occupied by Life Time, which has fitness studios, a spa, chiropractic and kids spaces, and a café, among other facilities.
One Wall Street joins Life Time’s existing outfits in Hell’s Kitchen, 23rd Street, NoHo and Battery Park. It plans to open a facility in Midtown and its first Brooklyn location at the recently developed Front & York building in Dumbo in the coming months.
Harry Macklowe bought One Wall Street in 2014 for $585M from Bank of New York, then spent $1.5B converting it. It has 566 units and 175K SF of retail, including a Whole Foods.