The Real Deal New York

More details emerge on Nordstrom’s lease at SL Green and Moinian’s 3 Columbus Circle

Retailer opening a freestanding menswear shop at 26-story building
January 28, 2016 10:30AM

SL Green Realty announced Wednesday that it had inked a 43,000 square foot deal that will bring Nordstrom to 3 Columbus Circle.

And now we know it won’t be for a Nordstrom Rack discount outlet store as had been rumored. Instead, the retailer is opening a free-standing menswear store on the basement, ground and second floors of the property, and could even bring a bar and other entertainment perks, too.

According to Crain’s, which reported new details on the menswear store’s 23-year lease, retail asking rents at SL Green and Moinian Group’s 26-story building have gone as high as $800 per square foot.

To get Nordstrom its space, the owners of 3 Columbus Circle asked current ground-floor tenant Bank of America to relocate. The bank will move its 3,000-square-foot location to Nearby 250 West 57th Street, giving the menswear store an entrance near the corner of West 57th Street and Broadway.

The new store will stand just one block away from 225 West 57th Street, where Nordstrom is building a 400,000-square-foot, seven-level department store at the base of Gary Barnett’s planned 1,550-foot-tall Central Park Tower — formerly known as the Nordstrom Tower. Extell’s residential tower, which has a projected sellout of $4.4 billion, would be the tallest apartment building in the Western Hemisphere upon its expected completion in 2018. [Crain’s] — Dusica Sue Malesevic