Vegas Lite Concept Planned for Brooklyn Macy's Site

A "Vegas Lite" entertainment and retail complex is planned for the former Macy's building located at 422 Fulton Street in Brooklyn's Downtown. The developers, Stellar Management and The Moinian Group, aim to open the venue in spring 2025. This project seeks to revitalize the 160,000-square-foot space, which has been vacant since Macy's closed its doors in 2019.

The concept, as described by Stellar Management CEO Ross Schneiderman, involves a curated mix of dining, retail, and entertainment, drawing inspiration from the vibrant atmosphere of Las Vegas but on a more accessible scale. The development is intended to attract a broad demographic, offering a destination for both local residents and tourists. The project is being financed through a combination of equity and debt, with details on the specific amounts not yet disclosed.

This initiative represents a significant effort to repurpose a large retail footprint in a post-pandemic retail landscape. The Fulton Mall area has seen declining foot traffic since the departure of anchor tenants like Macy's. The developers are optimistic that the "Vegas Lite" model will create a dynamic new hub, potentially boosting economic activity in the surrounding commercial district. The project is currently in the planning and pre-construction phases, with permits expected to be filed in the coming months.