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Rumor: Nordstrom Rack is Eyeing Midtown Outpost

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    NEWSLETTERS

    The city may already be eagerly awaiting the opening of the new Nordstrom Rack in Union Square, but apparently Nordstrom is already plotting its next store -- this time on none other than Fifth Avenue.

    The New York Post is reporting that the chain has its eyes on the space at 521 Fifth Avenue (at 43rd street), which was recently vacated by the now-defunct Circuit City. Apparently Rack is slowly becoming the unlikely money-maker for the upmarket department store chain, as Nordstrom apparently plans to open 16 new Rack stores by the end of 2011.

    The 43rd-and-Fifth locale does seem a bit off for a big opening, but then again the store would be in good company -- H&M and Zara, for example, hold major positions there -- and it'd be near enough to draw Bryant Park traffic. Plus, as Faith Hope Consuelo of Prudential Douglas Elliman told the Post, "Between Saks and Lord & Taylor, Fifth Avenue is a no man's land" -- meaning Nordstrom Rack has potential to own the market in that stretch.