Off-Price Retailer Sets up Shop in Manhattan
Nordstrom, Inc., a Seattle-based fashion specialty retailer, announced it will open a 32,136-square-foot Nordstrom Rack in Manhattan at One Union Square South on 14th Street between Broadway and Fourth Avenue. The store, a unit of the company’s off-price retail division and the first of its kind in Manhattan, will open on the south side of Union Square Park in Spring 2010.
"This is a rare opportunity that opened at the right time for us,” said Scott Meden, president of Nordstrom Rack. “Union Square is a thriving retail area and is an ideal location for the city's first Rack,” he added. Nordstrom Rack carries merchandise from Nordstrom stores and Nordstrom.com at significantly reduced prices.
One Union Square South consists of a 22-story luxury residential rental tower located above a five-story retail block that includes Regal Cinemas and several other prime retail spaces. The building's facade features a public artwall containing the mixed-media Metronome by Andrew Ginzel and Kristin Jones that at the time it was created was the largest private commission of public art in New York City's history. Nordstrom Rack will have 30 feet of street level storefront and will occupy the lower level of the former Virgin Megastore. Also joining Nordstrom at One Union Square South is Best Buy, which is expected to open in the former Circuit City space during the fourth quarter of 2009.