The ground floor of an Upper West Side apartment building known for its Beaux-Arts architecture and its celebrity tenants will soon be home to a department store known for its communal dressing rooms and its popularity with bargain-seeking bubbes. Come February, Loehmann’s department store will occupy a 37,000-square-foot space in the Ansonia on Broadway, at West 73rd Street.

Ten years after it made inroads in Manhattan, with the opening of its 60,000-square-foot store in Chelsea, the 85-year-old retailer announced plans this week for a new store at 2101 Broadway, supplanting the Gristedes supermarket in the landmark building.

Loehmann’s, which was founded in Brooklyn and is headquartered in the Bronx, will reportedly pay $250 a square foot in rent, though the retailer refused to confirm that price.

The company’s vice president of advertising, Fred Forcellati, said Loehmann’s is also looking for four more retail locations in the borough —exploring possible venues in Soho, Midtown, the Upper East Side, and elsewhere.

News of Loehmann’s slated expansion coincided with the sale of the company to a Dubai-based investment house, Istithmar PJSC. The discount chain was purchased for a reported $300 million from a private equity firm, Arcapita, in Atlanta. The new owners say they plan to increase the number of Loehmann’s stores from 60 to 100 during the next five years — an ambitious plan for a company that emerged from bankruptcy in 2000.

“The Upper West side is a high-traffic area, with a lot going on from a retail perspective,” Mr. Forcellati said.”It fits the profile of who our customer is, and it has great potential to attract tourists as well. Everything about it is right.”

While most of its retail space will be in the basement, the store will also have a presence at street level, according to Mr. Forcellati. It will feature communal and private fitting rooms, and a free personal shopping service like what is available at its Beverly Hills and Chelsea stores. “The personal shopper has the inside scoop,” he said. “You’ll say, ‘I love Donna Karan’ or ‘I love Calvin Klein,’ and they can pull stuff for you.”

Though under different ownership, the store will continue with its recent efforts to cultivate a more youthful image — stocking contemporary designs that are popular with younger customers. Mr. Forcellati said that in the past decade, the average age of Loehmann’s shoppers has dropped at least 10 years, and is now about 35.

The author of “The Sky’s the Limit: Passion and Property in Manhattan,” which chronicles the history of the Ansonia, Steven Gaines, said the income derived from the Loehmann’s lease will help with the upkeep of the ornate, 102-year-old building. “Loehmann’s is a brand name, and it will be an anchor tenant,” he said. “The Ansonia is in constant need of repair, and the more anchor tenants it has, the better.”

Mr. Gaines said he did not see “tremendous irony” in Loehmann’s move into the “wedding cake” building that was once home to Babe Ruth, Arturo Toscanini, and Gustav Mahler. “Tiffany or Cartier or Saks don’t belong there,” he said. “The Upper West Side of New York has always been an urban mix of cultures. It’s never really been considered chic — even Central Park West, which is glamorous — in the same way the East Side is. Loehmann’s is a perfect fit.”

Retail chains Sephora and the North Face, and a Commerce Bank branch are among the Ansonia’s current commercial tenants. Nearby stores include Urban Outfitters, Banana Republic, Pottery Barn, and other suburban shopping mall staples. When the new store opens next year, it will be Loehmann’s 17th in the tristate area.