By Ilana Siyance

Real estate gurus, retailers, and experts are singing an updated version of an old song, “It up to you Nordstrom New York!” Nordstrom has opened its first NYC location on October 24th , just in time for the holiday shopping season. It’s a massive seven-story women’s department store in Midtown, at 225 W. 57th St between Seventh Avenue and Broadway. Large crowds have eagerly flocked to the new spectacular Nordstrom store, which is located four long blocks west of Madison Avenue. Now, as reported by the NY Post, industry analysts are wondering if this new stunning luxury store can create a ripple effect and bring more trendy retail shops to the neighborhood south of Columbus Circle. These blocks are currently dominated by fast food stores, bank branches and empty storefronts eager for the area to find its niche. Decades ago, these shaded city blocks were filled with auto dealerships, but after they left, the area never found a new identity.

In 2018 Nordstrom launched its 47,000-square-foot Men’s store at 235 W. 57th St. That opening didn’t have much of an influence in bringing in other retailers to the area. But this new Women’s store is nearly six-times the size, with dramatic, wavy facade of transparent glass, standing proud and tall to lure shoppers inside. The Post called the new sprawling 320,000-square-foot store, “the largest free-standing store to open in Manhattan since Dwight Eisenhower was president”. Nordstrom was remarkably defiant in creating such a bold project, particularly at a time when online retailers are gobbling market share, and long-standing luxury icons like Barneys are as good as dead.

A few years ago, when news of Nordstrom’s new massive store first came out, experts were a lot more optimistic than they are now, though. “If you asked me five or even three years ago, I’d have said Nordstrom would create a clustering effect. Tenants would want to be near Nordstrom — maybe not top luxury, but upper-moderate like Coach, would want to be there,” says CBRE’s Richard Hodos. “Today, the issue is no demand. Zero demand. The kinds of stores that would normally cluster near Nordstrom aren’t opening stores.”

A few years ago, discount retailer TJ Maxx opened one block west of this Nordstrom, at 250 W. 57th at Eighth Avenue. Other than that, the street remains pretty gloomy. There is a large space across the street from Nordstrom, which is hoping for a new tenant, as its current lease ends in January. It is temporarily home to the DreamWorks Trolls: The Experience, a walk-through family attraction. The developer, Brookfield, is actively marketing the five story 35,000-square-foot space, advertising its frontage to the new Nordstrom. “If they find a good tenant, things might take off. If they can’t, what would that say about a supposed Nordstrom effect?” said one local landlord who did not wish to be named.