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Nordstrom buys land for Midtown tower

CHICAGO - SEPTEMBER 16:  Nordstrom store, in Chicago, Illinois on SEPTEMBER 16, 2012.  (Photo By Raymond Boyd/Michael Ochs Archives/Getty Images) Nordstrom has paid more than $100 million for a Midtown plot. Credit: Raymond Boyd/Michael Ochs Archives/Getty Images

Plans for a Nordstrom department store in Manhattan are moving forward. The Seattle-based retailer has shelled out $102.5 million for the site of its Midtown tower, The New York Post reports.

The store will occupy seven floors of the 1,550-foot skyscraper located on 57th Street between Broadway and Seventh Avenue.

According to new public filings, the store will span 175,000 square feet. It was previously reported that it would have nearly 300,000 square feet. It is not clear if the plans for the store have been downsized.

Nordstrom's purchase is likely a down payment for the future store, the Post reports.

A spokesman for real-estate mogul Gary Barnett, the project's developer, did not respond to the Post's request for comment. Barnett purchased the last piece of land needed for the project between West 57th and West 58th streets for $25 million last week.

The store announced last year that it planned to open its long-awaited Manhattan location in 2018.

 
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