Home Depot To Open In Former UES Bed Bath & Beyond Space

UPPER EAST SIDE, NY — Good news for Upper East Side home-improvement fanatics: Home Depot is planning to move into the expansive retail space being vacated by Bed Bath & Beyond, according to multiple reports.

Home Depot has already signed a lease for the four-floor, 120,000-square-foot space at 410 East 61st St., according to CNBC. Bed Bath & Beyond said last month that the location would be among dozens shutting down across the U.S. by the end of the year as the company faces significant losses during the pandemic.

“The reports of retail’s death in New York City have been greatly exaggerated,” Jeff Mooallem, president and CEO of the real estate company Gazit Horizons, told CNBC. The deal is one of the largest and costliest for a Manhattan retail space within the last few years.

Home Depot will close its nearby location on Third Avenue near 59th Street once the new store opens, according to CNBC.

"We believe this location will be more convenient for residential neighborhoods and look forward to continuing to serve our customers on the Upper East Side," a Home Depot spokesperson told Patch.