The store is under a 20-year lease in one of Manhattan, New York's priciest areas, so the company must be extremely confident in this initiative to drop money on a huge prime piece of property.
In a release, vice president and general manager of the store Zach Overton said the company was creating a flagship of the future.
"We didn’t want it to be a store," Overton says. "We didn’t want it to be about pushing products in people’s faces."
He said the space will show "programming which will tap into people’s passions such art, music, entertainment, sports, wellness, culinary, technology and fashion, all powered and enriched by technology."
The shop's broad spectrum of features include a broadcast studio, an art gallery of "curated content" experiences, a portable demo kitchen and a café.
At the time of launch the gallery's theme was a 'Social Galaxy', where people could experience a "hyper immersive and mind-bending exploration of social identity".
However, there are still opportunities to buy Samsung's products online within the store through interactive touch screens that show Samsung's website.