Zara to Open 18K-SF Store at 31 West 34th Street in Midtown

Spanish fast-fashion retailer Zara is expanding its New York City presence with a new store near Midtown’s Herald Square.

Zara, known for its affordable and trendy clothing, has signed a lease for 18,000 square feet at 31 West 34th Street, according to a second-quarter retail report from CBRE.

The 11-story building between Fifth Avenue and Avenue of the Americas is owned by El Fassi Realty, which acquired the ground lease on the property in 1995, according to property records and The Real Deal.

The deal represents a new location for Zara, which has 11 other New York City stores across Manhattan, Brooklyn, Queens and Staten Island, according to its website.

It’s not known exactly when in the second quarter the lease was signed. The length of the lease and asking rent were also unclear, but CBRE’s report found retail rents in Manhattan averaged $670 per square foot during the second quarter of 2025.

It’s also unclear who brokered the deal. Spokespeople for CBRE and Zara did not immediately respond to requests for comment, while a spokesperson for the landlord could not be reached for comment.

Other tenants Zara will join at 31 West 34th Street include personal shopping consultant Style Konsult and office space rental agency Jay Suites.

News of the deal comes after Amancio Ortega, Zara’s billionaire founder, expanded his real estate portfolio and bought a newly completed multifamily tower in Fort Lauderdale, Fla., from Related Group for $165 million last month, as Commercial Observer previously reported.

The Zara lease was also one of Manhattan’s largest retail deals during the second quarter, following Old Navy’s 55,000-square-foot deal at 50 West 34th Street, health and wellness brand Life Time’s lease for 52,000 square feet at 10 Bryant Park, gymnastics studio NYC Elite’s 20,908-square-foot renewal at 40 Worth Street, and Uniqlo’s deal for 19,250 square feet at 860 Broadway.

Isabelle Durso can be reached at idurso@commercialobserver.com.