Long Island has long been the land of the mall, from the Walt Whitman Shops to Roosevelt Field, the Americana Shopping Center to the Broadway Mall, which has been renamed Broadway Commons.
But it looks like those walls are starting to come down, at least at one of the region’s better-known malls.
Broadway Commons, formerly known as the Broadway Mall, in Hicksville, is being “demalled” as The Shops on Broadway, in the words of Kenneth Schuckman, one of the investors and a general partner in the entity that acquired Broadway Commons.
“Multiple families based on Long Island partnered up to acquire this mall,” said Schuckman, president of Schuckman Realty who is managing leasing and marketing for the property. “We are taking the antiquated suburban shopping center and bringing it to the 21 st century.”
The new owners unveiled a $100 million redevelopment plan at a meeting of the Northwest Civic Association of Hicksville. But their
plan, if anything, is déjà vu all over, returning to the open-air format of a traditional shopping center with a new spin.
The development is slated to include The District, a 150,000-square-foot space that will blend dining, entertainment, and community spaces.
Anchors like BJ’s Wholesale Club, IKEA, and Target, along with other retail and restaurants, are designed to make this development and design what Schuckman calls “Long Island’s go-to lifestyle destination.”
It will also include entertainment anchors, such as the existing Round 1 Entertainment, which includes bowling, arcade games, karaoke, and interactive experiences. There could also be a 12-screen movie theater.
The investment group that acquired Broadway Commons is a joint venture of Kaber and BTF Capital where the BTF stands for “Back
to the Future. “
In 2012, Schuckman founded BTF Capital Fund with Aaron Malinsky to work with real estate families to “actualize dormant value in grocery-anchored shopping centers in metro New York. “
BTF Capital 2021 acquired four grocery-store-anchored shopping centers for $130 million. Regency Centers, a publicly traded REIT, acquired the shopping centers along with BTF Capital.
The plan here is for Broadway Commons, which opened in 1956 as the Mid-Island Shopping Plaza, to go back to being open
rather than all indoors.
“The enclosed mall business is dead,” Schuckman said. “And we are making it into an open-air shopping center.”
In addition to speaking about his plans, Schuckman, on his website, outlined his vision of redesigning retail.
“Younger generations—particularly Gen Z—are driving a return to in-person shopping, seeking experiences, convenience, and
connection,” Schuckman wrote.
He said the Shops on Broadway is designed to combine experiential retail, convenience, value, community, sustainability
and social media appeal.
Schuckman said at a recent International Council of Shopping Centers convention. The Shops on Broadway “received significant interest.”
He said in over 50 meetings there, retailers, entertainment operators, and restaurant operators “expressed enthusiasm for the combination of strong anchors” such as BJ’s, IKEA, and Target with “aspirational retail and experiential attractions.”
“This response underscores the demand for projects on Long Island that provide both convenience and lifestyle experiences, making The Shops on Broadway a standout opportunity in the market,” Schuckman wrote.
He said that the six-story Macy’s department store, including five above ground and one below on 50,000-square-foot floor plates, has been vacated. “Nobody wants that anymore,” Schuckman said.
They plan to demolish the Macy’s building as they redesign the retail experience at what had been the Broadway Mall and then Broadway Commons.
The investors believe writing on the wall indicates that open air is better – and that bigger is not always better.
Schuckman said he received multiple letters of intent from national chains to take over the movie theater, including some that want to upgrade the cinema. They also offer to convert movie theaters into other entertainment concepts.
“That box is highly sought after,” Schuckman said. “And I anticipate making an announcement in the next 60 days as to who the suitor or suitors will be for that box.”
Schuckman said they also have letters of intent from restaurant operators, mostly national, as well as some local restaurants, for
the space adjacent to the cinema.
Schuckman said they plan to replace a 300,000-square-foot Macy’s with parking, as they reduce the square footage from 1.1
million to a gout 800,000 square feet. “We’re building less than we’re taking down,” Schuckman said.
