Big gains offset by bigger losses in Manhattan retail shakeup

This year, New York City will lose 340,000 square feet of department stores. While some are zigging, others are zagging: Lord & Taylor, Henri Bendel and Saks Fifth Avenue are out, and Neiman Marcus and Nordstrom are in. Nordstrom, historically reluctant to open physical stores in Manhattan, will open its flagship at Extell Development’s Central Park Tower, just across the street from its men’s shop at Moinian Group’s 3 Columbus Circle. “Manhattan does not need […]

source https://therealdeal.com/2019/06/14/big-gains-offset-by-bigger-losses-in-manhattan-retail-shakeup/