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It's a sign! Zara recently plastered a massive construction facade over 503 Broadway, the address that parent company Inditex bought for a whopping $280 million back in January. At 42,000 square feet, that price comes out to more than $20,000 per square foot for the former home of old Navy.
An opening date hasn't been specified—it's only the words "opening soon" imposed over one of the fast fashion retailer's latest advertisements, and their website's store locator doesn't even mention this address. That means they'll be holding onto their store up the street at 580 Broadway for a bit longer, and the two locations might even overlap for a bit so that the brand doesn't lose its presence on the prominent shopping strip (thought there's plenty of other locations from New Yorkers to choose from).
With all that space to play with, let's hope they're planning on competing with H&M by adding a department for Zara Home, which isn't in stores in this country. We'll keep you updated when we here more about the new location opening.