Listen to this articleTheodore Alexander, a global luxury furniture brand, will be opening its first U.S. store on Long Island.
The store will be operated by an international third-party investor, according to the furniture manufacturer, who leased 41,393 square feet of retail space above the Whole Foods Market in Kimco Realty’s Munsey Park Plaza shopping center at 2101 Northern Blvd. in Manhasset. The space was formerly occupied by a Bed, Bath & Beyond store which closed in 2021.
“We’re excited,” said Ed Teplitz, president of Theodore Alexander USA. “It’s a third-party investor and dealer that’s opening the store. It’s the first store in the United States and he is committed to our brand.”
Founded in 1996 by Paul Maitland Smith, a pioneer of high-end furniture production in Asia, Theodore Alexander has been selling its luxury home furnishings through other retailers and dealers throughout the world. But the manufacturer is now seeking to market its products directly to consumers in the U.S., especially focused on opening Theodore Alexander stores in areas with attractive demographics. The Miracle Mile of Manhasset certainly fits that bill, with an average household income of more than $366,000 within a mile of Munsey Park Plaza, according to the stats on Kimco’s website.
The new Theodore Alexander store will be located just across the street from Americana Manhasset and around the corner from the showroom of luxury furniture brand Arhaus.
“Demographically, it certainly is a good fit for our brand, from a lifestyle and design and from an income level,” Teplitz told LIBN. “It’s a great location for visibility on Northern Boulevard and certainly we love the co-tenancy of the area.”
Teplitz added that the furniture maker would entertain opening more stores with third-party operators.
“We would love if others would be interested in doing the same,” he said. “At this point, our goal is to really get this open and make sure that it’s successful, to partner with the investor and operator and make sure we do everything we can to make him successful.”
Jordan Domroe of Parallel Realty represented the tenant, while Gene Spiegelman of RIPCO Realty represented the landlord, Kimco Realty, in the lease transaction.
The new Theodore Alexander store is expected to open in the first quarter of next year.