NYguy |
Jun 28, 2012 9:00 PM |
http://www.businessweek.com/ap/2012-...e-in-manhattan
Nordstrom to open 1st full dept store in Manhattan
By Anne D'innocenzio
June 28, 2012
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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.
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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http://in.reuters.com/article/2012/0...8HSBKX20120628
Nordstrom to get New York department store at last
Jun 29, 2012
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The Nordstrom store will be 285,000 square feet and occupy seven stories at the base of what will become Manhattan's tallest residential building, to be built on 57th Street, near 7th Avenue. The store is part of a deal with Extell Development Co, the upscale chain announced at a press conference on Thursday.
A full-service New York department store will give the chain exposure to the millions of tourists who flock to Manhattan and have bolstered business at rivals such as Saks Fifth Avenue , Macy's Inc Bloomingdale's, Neiman Marcus Group Inc's Bergdorf Goodman and Tiffany & Co. "It's our desire to make this the absolute best Nordstrom store there is because we need to do that to be able to compete on this stage," Pete Nordstrom, the chain's president of merchandising, told reporters. He expects the Manhattan store to be the department store chain's highest grossing location.
Nordstrom will own its space at the Manhattan store, which it expects will create 1,000 jobs. In 2010, Nordstrom opened a popular Rack outlet store in New York's Union Square. Company executives at the event said they are not ruling out a second Manhattan department store at some point.
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http://www.marketwatch.com/story/nor...nyc-2012-06-28
Extell Announces Agreement to Build 285,000 Square-Foot Flagship Store on 57th Street
June 28, 2012
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For Nordstrom, the agreement with Extell marks its full-line store entrance into the New York City marketplace. Its 7-story department store will comprise the base of a distinctive mixed-use, retail, hotel and high-rise residential tower still in the planning stages by Extell. Nordstrom views the development as a great opportunity to serve customers within the highly accessible, heavily trafficked and growing West Side retail scene.
The 40,000 square foot block-through site, which fronts on the northern side of 57th Street between Broadway and Seventh Avenue and extends to 58th Street, once housed the original Hard Rock Cafe. The parcel was assembled by Extell President Gary Barnett over a period of nearly a decade. According to Mr. Barnett, excavation work on the site could begin as early as the first quarter of next year.
"We have enjoyed great success at ONE57 and therefore decided to develop another luxury tower along the 57th Street corridor," said Gary Barnett. "We are pleased to have Nordstrom as our anchor tenant in this new project and to be able to bring this long anticipated flagship store to Manhattan."
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http://www.crainsnewyork.com/article...TATE/120629880
Nordstrom fulfills its wish-list after 25 years
By Ken M. Christensen
June 28, 2012
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After decades of pondering a move to New York, Seattle-based retailer Nordstrom Inc. will open its first full-line location two blocks south of Columbus Circle, at 225 W. 57th St., between Seventh and Eighth avenues.
The department store's requirements included ceiling heights of at least 25 feet and open floorplates without central elevator cores, and that combination made most existing buildings unworkable, Mr. Trulson said. Nordstrom considered several high-profile developments for a future home, including a high-rise condo tower planned for the former Drake Hotel site and the Hudson Yards project. "The possibilities for [the Extell] site are just better," Mr. Nordstrom said.
Excavation on the site's 40,000-square-foot footprint could begin by the first quarter of 2013. The tower will include additional retail space, a hotel and residential units. The hotel portion is expected to create 250 permanent jobs, said George Arzt, spokesman for the developer.
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