Nordstrom to open 1st full dept store in Manhattan
NEW YORK (AP) — After circling Manhattan for about two decades, Nordstrom Inc., the upscale department store chain, announced plans Thursday to open its first full-scale store in New York.
The arrival of Nordstrom, envied by rivals for its top-notch customer service, will increase the competition in Manhattan, home to such department stores as Macy's and its higher-tone sister, Bloomingdales, and to Saks Fifth Avenue. But experts believe Nordstrom also will inject new energy into what's already a retail mecca.
The new store will open in either 2017 or 2018 at 225 W. 57th Street, between Broadway and Seventh Avenue, just south of Central Park, under an agreement signed with real estate company Extell Development Co., the Seattle-based retailer said.
The store will be at the base of a skyscraper still in the planning stages that is to include pricey residences and a hotel.
"We're really excited about this," said Pete Nordstrom, president of merchandising at the department store chain. "It's been a long time coming."
Nordstrom announced the details at a news conference in New York. Mayor Michael Bloomberg and Gary Barnett, president of Extell, joined Pete Nordstrom and his brother Erik, who is president of stores.
Nordstrom already operates two stores in Manhattan: a Nordstrom Rack outlet on 14th Street and Treasure & Bond in SoHo, which donates its profits to local charities.
Nordstrom considered other sites, including 57th Street at Park Avenue and Sixth Avenue at 16th Street, according to Faith Hope Consolo, who leads retail leasing and marketing at Prudential Douglas Elliman and worked with landlords on previous Nordstrom deals that fell through.
Pete Nordstrom said the search was complicated by the company's need for a particular configuration plus space for a loading dock, among other requirements. At about 285,000 square feet on seven floors, the new store will be almost twice as big as Nordstrom's average store.
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