Another large-format chain store is about to open on the Lower East Side.
As EV Grieve first reported, discount retailer Marshalls will be making its debut at the end of September in Ben Shaoul’s high-end condo building at 196 Orchard St. (Houston Street). According to Marshalls website, the grand opening is scheduled for Sept. 27.
The 11 story building also includes an Equinox Health Club, which is supposed to be opening next Tuesday, Aug. 28. There are 94 apartments in this project, about a dozen of which are currently listed on StreetEasy at prices ranging from $1.5-6.5 million.
Marshalls is owned by the TJX Companies, which also owns T.J. Maxx. Unlike many other big retail brands, the stores have posted impressive sales gains in the past few quarters. As CNBC reported, “The company’s treasure-hunt style marketing technique, based on unpublicized but deep discounts on apparel and accessories, proved to be a hit with younger customers…”
The Lower East Side location will be the seventh Marshalls in New York City. Two mid-size Target stores recently opened – one on Grand Street and another on 14th Street, with more chain stores undoubtedly on the way.