After years of circling the island, Target is finally opening a store in Manhattan, The Post has learned.

The cheap-chic retailer inked a lease for a coveted spot of 130,000 square feet at East River Plaza, now rising next to the FDR Drive at East 119th Street in Harlem.

Sources said Target topped Costco for the second-story space, which is above a 110,000-square-foot Home Depot.

“The neighborhood is easily accessible,” said Robert K. Futterman, a Manhattan real estate broker who was not a party to this transaction.

Blumenthal Development Group/Forest City Ratner is developing the East River Plaza project. Neither a Forest City spokesperson, nor their broker on the project, Peter Ripka of Ripco Real Estate, who also represented Target, returned calls seeking a comment.

Across the country, Target has become the darling of cost-conscious city dwellers, featuring designers such at Liz Lange, Isaac Mizrahi and Mossimo at discount prices.

Target, which operates about 1,440 stores in 47 states, has opened up in Jersey City , North Bergen, Queens, Brooklyn and Staten Island. Its only forays in Manhattan have been temporary stores it opened at Rockefeller Center and another on a West Side pier.