New York -- Confirming the rumors that have swirled for the last few days, Seattle-based Nordstrom said Thursday that it has found a site for its full full-line department store in New York City.
The 285,000-sq.-ft. flagship will open along the 57th Street corridor at 225 West 57th – between Broadway and Seventh Avenue – at a site owned by Extell Development Co.
The store is expected to open in 2018.
The announcement came at a news conference at Nordstrom's treasure&bond Soho location at 350 West Broadway on Thursday, keynoted by Mayor Michael Bloomberg.
"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 Mayor 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."
The new seven-story department store will comprise the base of a mixed-use, retail, hotel and high-rise residential tower still in the planning stages by Extell. The 40,000-sq.-ft. block-through site once housed the original Hard Rock Cafe. The parcel was assembled by Extell president Gary Barnett over a period of nearly a decade and, according to Barnett, excavation work on the site could begin as early as the first quarter of next year.
"This has been a long time coming for us, as Nordstrom has sought a NYC location for many years,” said Erik Nordstrom, president of stores for Nordstrom. “We couldn't be happier about the opportunity to be a part of this terrific development project with Extell and feel the location works extremely well for us.”
Jones Lang LaSalle represented Nordstrom in the transaction, and Extell was advised by RKF.