UPPER WEST SIDE — The Upper West Side's supply of moderately-priced khakis is about to shrink.
Gap is closing its store on West 86th Street and Broadway, a spokesman for the real estate firm Robert K. Futterman & Associates said in a statement.
Gap won't be renewing its lease in the basement of the luxury apartment building The Boulevard when it ends in February 2012, and Robert K. Futterman & Associates is looking for a new tenant to take over the 12,300 square-foot spot, the spokesman said.
"A retail space like this rarely becomes available on the 86th Street corridor," Robert K. Futterman & Associates Vice President Joshua Strauss, which advertised the imminent vacancy for the current Gap space, said in a statement:
"Its location next to a major transportation hub and among co-tenants including Banana Republic, Club Monaco, PC Richard & Son, Aldo, Gristedes, Victoria's Secret, Coach, and Godiva, makes the 2373 Broadway retail space an ideal flagship opportunity for a brand looking to expand its New York City footprint," Strauss added.
Gap's only remaining outlet on the Upper West Side is at 1988 Broadway, near West 68th Street, according to the company website. Gap Inc., a retail group that includes Banana Republic and Old Navy, announced in October that it's closing 189 of its stores nationwide while tripling the number of stores it has in China.
A representative for the Gap was not immedately available for comment on Monday.
In New York, the number of Gap stores has fallen slightly in the past year, according to a newly released study of chain stores by the Center for an Urban Future. In 2010 there were 37 Gap stores citywide; now there are 33.
Though Upper West Siders sometimes complain that their neighborhood is becoming overrun with chain stores, several national retailers have left the area recently.
The Borders bookstore in the Time Warner Center at Columbus Circle went out of business, and Syms and Filene's Basement, which have locations on Broadway and West 79th Street, recently declared bankruptcy and will close early next year.