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Nordstrom Coming to New York


If you are moving to New York, you might as well dream big--at least that seems to be the view adapted by upscale department store chain Nordstrom as it prepares to open a flagship here. The New York Post reports the retailer just paid $102.5 million for the site of its future New York flagship, at 225 W. 57th Street. The store, Nordstrom's first full-price location in the city (it already operates a Nordstrom Rack in the Union Square area), will occupy 175,000 sq. ft. on the first seven floors of a planned 88-story residential tower that will be one of the tallest buildings in the world, at 1,550 feet.

Nordstrom paid approximately $586 per sq. ft. to secure the site--a significant discount from the average retail rents in the area. It plans to open the store sometime in 2018. 

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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