BKX Redevelopment Planned for Former Macy's in Downtown Brooklyn

• A 440,000-square-foot mixed-use redevelopment called BKX has been announced for the former Macy's building at 422 Fulton Street in Downtown Brooklyn.
• The project will transform the five-story department store into a destination for retail, entertainment, hospitality, dining, and cultural programming.
• Leasing is now underway for what developers describe as the largest contiguous block of retail space currently available in New York City.

What the BKX Redevelopment Includes

A new vision has been unveiled for the former Macy's building at 422 Fulton Street, where developers plan to create BKX, a 440,000-square-foot mixed-use destination in the heart of Downtown Brooklyn. The redevelopment is being led by United American Land, Dreamscape Retail & Entertainment, and The Jackson Group. Rather than preserving the property as a traditional department store, the team plans to reposition the five-story building into a modern destination that combines shopping, entertainment, hospitality, dining, and cultural experiences under one roof. Located between Hoyt Street and Gallatin Place, the project aims to breathe new life into one of Brooklyn's best-known commercial properties.

What the Project Features

BKX has been designed to accommodate a wide range of tenants through flexible floor plates ranging from approximately 60,000 to 70,000 square feet. Plans call for flagship retail stores, immersive entertainment concepts, food halls, destination restaurants, wellness operators, and cultural programming. Ceiling heights between 17.5 and 22.5 feet will allow for large-format uses that are difficult to accommodate elsewhere in New York City. Dreamscape partnered with experiential design firm iCrave to create the project's signature central atrium, which will serve as the primary gathering space for visitors and events. Developers say the project will offer the largest contiguous block of retail space currently available in New York City, providing flexibility for major national and international brands.

What the Developer Says About the Vision

The development team says BKX is intended to reflect changing consumer preferences by combining multiple experiences within a single destination.

"When we acquired this property, we saw an opportunity to reimagine one of New York's most iconic sites for the next generation," said Albert Laboz, principal of United American Land.

He added, "Rather than pursuing a traditional retail redevelopment, we're creating a destination that reflects how people want to spend time today, bringing together entertainment, dining, retail, and community under one roof."

What This Means for Downtown Brooklyn

The redevelopment of the former Macy's building represents another step in the evolution of Downtown Brooklyn into a mixed-use destination that extends beyond traditional retail. As consumer preferences shift toward experience-driven environments, developers are increasingly transforming legacy department stores into entertainment, hospitality, dining, and cultural hubs. Positioned near multiple subway lines and the Long Island Rail Road at Atlantic Terminal, BKX is expected to attract both local residents and regional visitors while reinforcing Fulton Street as one of Brooklyn's primary commercial corridors.