Neiman Marcus store, Boston Neiman Marcus store, Boston

Neiman Marcus to open a store in Manhattan

Neiman Marcus finalises deal to anchor new retail complex at Hudson Yards after months of discussions

by 08 September 2014

The company will unveil a flagship store in Hudson Yards in 2018, its first in New York.

The 20 billion dollar residential and commercial development will comprise 16 skyscrapers at the site of the West Side rail yards in the West 30s. The Dallas-based department store will indeed be the anchor tenant for a new retail complex at the mega project, occupying a multi-level space on floors five through seven.

"Hudson Yards presents the ideal location for a Neiman Marcus store," said Karen Katz, CEO of Neiman Marcus Group, in a statement. “The project is a bold and innovative retail idea and one that complements how we view our Neiman Marcus brand."

The move by Neiman Marcus represents the brand's first foray into New York since the company was founded 107 years ago. However, the retailer does own the Bergdorf Goodman store on Fifth Ave. Neiman will be entering New York at a time rival luxury retailers are taking advantage of the tourism boom in New York, fueled by an influx of well-to-do visitors from Brazil, and China.

Competitors such as Saks Fifth Avenue, Bloomingdale's and Nordstrom all reportedly eyed the spot at Hudson Yards before Neiman signed on. Nordstrom chose to anchor the retail space at a new residential skyscraper on 57th St. instead.