The fancy new building at 350 West Broadway in Soho will be the home of not only rich people who can afford the six full-floor residences and penthouse, but a brand-new kind of Nordstrom store! Nordstrom, which opened a Rack in Union Square a few months ago, has signed a long-term lease to rent the 11,100 square feet in the bottom two stories of the nine-story building, for a store slated to open next fall. All earnings from this new store will be donated to nonprofits, making this outpost the first of its kind for the company.
Brokers say the West Broadway spot will put Nordstrom in a position to compete with Bloomingdale’s on Broadway. The store has been interested in finding a Manhattan flagship for ages, but, since finding good real estate sucks here for everyone, hasn’t been able to yet. Not many details on what kind of merchandise the West Broadway store will carry are available yet, but the concept sounds ripe for success — which is key in a neighborhood where plenty of stores died in the recession. One way stores tried to encourage people to shop in the worst of times was with charitable tie-ins. This store is designed to make shoppers leave their guilt at the door. Unless, of course, that doesn’t work and the place doesn’t end up with any earnings to donate.
Charitable Nordstrom store slated for W. B’way [Crain’s]
BOMBSHELL: Nordstrom to Open on West Broadway in Soho [Racked NY]