Core Insights - TJ Maxx is opening its first new store in Manhattan in over a decade, signing a lease for 40,000 square feet at Herald Towers, marking the largest new retail deal in the city for the past two years [1][4] Group 1: Retail Landscape - The majority of recent large retail commitments have been focused on health and fitness clubs, medical clinics, fast food, and educational uses, with very few comparable deals to TJ Maxx's being new openings rather than renewals [2] - The new TJ Maxx store will join other retailers like Old Navy, MooMoo, and IT Italian Trattoria in Herald Square, which is a significant shopping district [3][8] Group 2: Herald Towers and Leasing Details - Herald Towers, which has 110,000 square feet of retail space, is now 95% leased following the TJ Maxx deal, indicating a strong recovery in the area [3] - The building, previously the McAlpin Hotel, was acquired by JEMB Realty in 1999 and has been converted into rental apartments, highlighting the transformation of the property [6][9] Group 3: Market Dynamics - The resurgence of foot traffic in Herald Square, driven by businesses like Macy's, has contributed to the area's retail recovery, although it took until last year for crowds to reach record levels [6]