It’s the great white whale of Manhattan retail.
Aside from Walmart, Nordstrom is the store every retail broker in the city dreams of harpooning and reeling into a new home. One prominent broker familiar with the store, the amount of space it needs and the rents it would probably be willing to pay estimates that the commission for handling its lease would be around $10 million.
But like a leviathan lurking beneath the waves, the department store has offered only fleeting glimpses around the city, most notably at several development sites and a few existing assets with the capacity to accommodate its sprawling footprint.
The scuttlebutt nowadays: Nordstrom is contemplating one of two leases, one at the West Side rail yards with the Related Companies or another at the base of Extell Development’s soaring new residential tower now rising at 157 West 57th Street.
A stake in Ralph Lauren’s chichi emerald headquarters is up for grabs.
A 49 percent interest in 650 Madison Avenue, a trophy office tower just steps from the GM Building, is about to be put on the market, multiple industry sources told The Observer. The 500,000-square-foot building is valued at around $950 million, a source Read More
A year and a half after Ashkenazy Acquisition and the Carlyle Group joined forces to purchase the incredibly well-placed skyscraper at 650 Madison Avenue—a mere block from Central Park and the Plaza Hotel, and couched snugly inside New York’s fanciest office district (dubbed, appropriately enough, the Plaza District)—the developers have Read More
Polo Ralph Lauren, the luxury goods brand that, like so many other up-market firms, has seen its stock battered by the economic headwinds, is digging in at the trophy 650 Madison Avenue, between 59th and 60th streets.
In the biggest leasing deal of the young year, Polo has restructured and renewed for 15 years Read More
Polo Ralph Lauren, the luxury goods brand that, like so many other high-end firms, has seen its stock battered by the economic headwinds, is digging in at the trophy 650 Madison Avenue, between 59th and 60th streets.
Sources have confirmed that Polo has renewed its lease for 200,000 square feet at the Read More