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.
The Lease Beat
Self-proclaimed “girly” boutique Pookie & Sebastian inked a retail deal for more than 2,300 square feet at 794 Lexington Avenue, near 61st Street, a broker told The Commercial Observer yesterday.
Known for its pink awnings and pre-school sounding name, the “fun and flirty,” retailer will pay $17,000 per month in the ten-year deal, said Peter Braus of Sierra Realty, who represented landlord Arthur Weyhe. Asking rent was $20,000 per month. Previous tenant Cohen’s Optical vacated the space early last year.
Sometimes, the popularity of a certain expensive article of fashion can be measured by the number of women who, not having saved the money to purchase it, attempt to steal it.
This has been the case, recently, with the ubiquitous Herve Leger minidress (pronounced Er-veh, Ley-Jeh), that flab-friendly blend of rayon, nylon Read More
“Gays love a recession!” said Robert Cogan, a 27-year-old patron of the brand-new East Village gay bar the Hose on the night of Feb. 7.
It was a Saturday night, and he was checking out the scene in the bar’s “back room,” which was, well, a room in the back. More Read More
H&M has reported strong growth in 2008; the Swedish chain plans to open 225 stores worldwide and add 7,000 jobs this year. [WWD]
Pierre Berge, the longtime partner of Yves Saint Laurent, is getting ready to finally sell off the late designer’s highly prized art collection, which took over 30 years to Read More
A lifelong Manhattanite, Janis Savitt remembers being in Bloomingdale’s as a child with her mother and seeing a showcase with a little saw in it—one of the jeweler’s key tools. “Mom, find me a jewelry lesson place in New York!” little Janis implored.
Today fans of Ms. Savit’s designs include Beyoncé, Elton John and the Read More
Whitney Port‘s Hills spin-off, in which she will intern in the PR department of Diane von Furstenberg and possibly hang out with socialite Olivia Palermo, has officially been picked up by MTV. [E!]
Domenico Dolce and Stefano Gabbana have a crush on "I Kissed a Girl" singer Katy Perry. [Read More
We’ve got good news for the die-hard fashionistas who had been plotting a lunch-time run on Bloomingdale’s today before a possible strike tomorrow. It’s been averted (for the time being at least)!
Womens’ Wear Daily reported today that the management of the 59th Street flagship reached a deal with leaders of the Local Read More
Shoppers who were hoping to pick up a Mother’s Day gift at Bloomingdale’s on Thursday may find picketing workers instead.
Crain’s reported on Friday that the Retail, Wholesale, and Department Store Union authorized a strike action at the Bloomingdale’s flagship on 59th Street to amp up the pressure on management to increase employee Read More
SoHo just got a hot new spot to ring in St. Patrick’s Day.
The cast-iron building that boasts Bloomingdale’s SoHo store, 504 Broadway, has sold for $53 million to the Irish firm Sloane Capital, led by financier Aidan Brooks, property records show.
Mr. Brooks, wielding the mighty euro in the days of Read More