Home Depot Announces Its Second Manhattan Store Sep 24, 2003

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The Home Depot, the world's largest home improvement retailer, announced plans to open a new store at 59th Street and Third Avenue in Midtown Manhattan next summer. Two weeks ago the company announced plans to open its first store on 23rd Street near Fifth Avenue in Manhattan's Flatiron District, also next summer. When these stores open, Home Depot will have 17 locations throughout all five of New York City's boroughs. The company currently has 78 stores in the greater New York market, more than four times as many stores as its nearest competitor.

"Home Depot has been evaluating locations throughout Manhattan for several years," said Tom Taylor, president of Home Depot's Eastern Division. "This second store in Manhattan will enable Home Depot to serve tens of thousands of new customers in Midtown and Upper East Side neighborhoods. This store and the Flatiron store will meet a huge untapped demand for home improvement products and services in Manhattan."

Like the Flatiron District store, the Midtown Home Depot will be a pedestrian-oriented, multiple-level "urban neighborhood" store, with a product assortment geared specifically for the Manhattan neighborhoods it will serve. It will comprise approximately 83,000 square feet over one lower level and will devote a substantial amount of space to showrooms on a separate mezzanine level. The Midtown store will occupy a prominent position on Third Avenue between 58th and 59th Streets, near Bloomingdale's.

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