RAPAPORT... Nordstrom Inc. signed an agreement with Extell Development Co. to build its first full-line store in Manhattan at 225 West 57th Street. This new flagship store in the Columbus Circle neighborhood will boast 285,000-square-feet of shopping space and is expected to open in 2018.
"It makes perfect sense that Nordstrom –-one of the premier names in retailing-- would want a flagship store in New York, the world's premier city for retailing," said New York mayor Michael Bloomberg. "This is very exciting news for New Yorkers and the millions of tourists who come to our city to shop each year and this new addition to the West Side of Manhattan is another sign of the private sector's confidence in New York City."
Nordstrom expects this seven-story department store will create the base of a distinctive mixed-use retail, hotel and high-rise residential tower that is 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's president Gary Barnett, who is also building the International Gem Tower in the city's diamond district.
Barnett said, "We have enjoyed great success at ONE57 and therefore decided to develop another luxury tower along the 57th Street corridor. 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."