Former Macy's Building to Become BKX Entertainment Hub
The 440,000-square-foot Downtown Brooklyn site will house new retail and dining spaces for the neighborhood starting in 2027.
Updated on Oct. 15, 2026 in Commercial
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Developers have unveiled plans to transform the historic former Macy's building at 422 Fulton Street into a 440,000-square-foot entertainment complex called BKX. The Downtown Brooklyn project aims to revitalize the area with new retail and dining spaces.
Why it matters
This conversion of a legacy retail site is intended to serve as a catalyst for future commercial investment in Downtown Brooklyn. The development brings a new experiential retail model to the historic Fulton Street corridor.
The BKX complex will span 440,000 square feet across five levels, with individual floor plates measuring between 60,000 and 70,000 square feet. Developers anticipate space will become available for commercial tenants in approximately one year.
The players
United American Land
A real estate firm specializing in the acquisition and management of historic properties and urban retail assets.
Crown Acquisitions
A developer known for managing high-profile retail properties and large-scale commercial real estate investments.
The Jackson Group
A commercial real estate group focused on developing and revitalizing retail and mixed-use urban properties.
The details
The design focuses on creating an open environment by incorporating interconnected public spaces and a central atrium. Intersecting escalators are being installed throughout the facility to provide a visually distinct visitor experience. This renovation marks a significant transition for the building, which has hosted retail operations at this location since 1885.
Timeline
1885: Retail operations first began at the site.
December 2024: A partnership acquired the retail property for $23 million.
October 2026: Developers officially unveiled the BKX transformation vision.
October 2027: Space is expected to become available for occupancy by tenants.
The Home Front
The transition of this property reflects a wider urban shift toward repurposing massive, single-tenant legacy department stores into multi-use entertainment hubs. This move highlights how developers are currently prioritizing experiential retail over traditional shopping footprints to maintain commercial property value.
Residents living near Downtown Brooklyn should monitor local traffic updates as the conversion work nears its final phase. If you are a local business owner or seeking commercial space, the project's projected availability in late 2027 offers a timeline for future lease considerations.
The takeaway
The BKX project represents a major pivot in how historic retail buildings are being utilized for modern family entertainment and dining. Local stakeholders should track the site's progress as construction and conversion work approach completion over the coming year.
Further reading
For more updates on regional business shifts, visit the New York City Commercial section.
Source note: This article includes information reported by The Jewish Voice.
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