JC Penney Confirmed for Manhattan Mall's Lower Levels

Sarah Jessica Parker fans can breathe a sigh of relief.
Steve & Barry's is safe!
JC Penney has confirmed that they will build a 150,000 square foot store on three levels where Gimbels once stood in Manhattan Mall to open in late 2008 or 2009. Their first store in the borough will occupy space on the street level, but, cleverly taking advantage of the 34th Street Subway station, will descend down to the lower levels rather than displacing stores on upper floors of the 4-level mall.
Other stores may be moved within the mall, but given its current performance, Penney's is far likelier to succeed where Gimbels, A&S and Stern's all met their demises. With Penney's finally invading Manhattan, will we soon see, for example, Kohl's on the Upper East Side? Or how about Sears on the newly fashionable Bowery?
Previously: Is Penney's Going to be the New Gimbels?