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Neiman Marcus May Be Coming to NYC

After Nordstrom passed, the Hudson Yards mall may have finally found its anchor.
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Given its status as a well-known luxury fashion institution, people often forget that there isn't a Neiman Marcus in New York City, only a Bergdorf Goodman -- which the retailer also owns.

But that could change pretty soon. The New York Post reported Thursday evening that Neiman Marcus is negotiating a deal with Related Cos, developer of the Hudson Yards project, for a "multilevel store that could span upwards of 200,000 square feet." The Hudson Yards, a development currently being built near the corner of 30th Street and 10th Ave on the far west side of Manhattan, has already announced plans to open a 1 million-square-foot retail complex, where brands including Coach (whose headquarters are nearby) have already signed on to have shops. Neiman Marcus would anchor the complex.

This follows reports that began back in 2011 that Nordstrom would be making its first foray into New York through the Hudson Yards, though the Seattle-based retailer instead chose a spot on West 57th Street. And according to the Post, Nordstrom wasn't the only department store to turn the Hudson Yards down. Apparently Saks Fifth Avenue, Bloomingdale’s and Paris-based Galeries Lafayette had all considered the location, but ultimately decided against it.

One can only speculate on why the Hudson Yards, also most likely the future home of New York Fashion Week, has had a hard time getting a department store anchor. One reason could be its out-of-the-way location. It's far from subways, not really near anything and the area is not very densely populated. A tenant's would-be competitors -- Bloomingdale's, Bergdorf's, Saks -- are, for the most part, all located in convenient, high-traffic areas. That's not to say Hudson Yards couldn't one day become a convenient, high-traffic area -- there are plans to expand the 7 train to stop at 34th Street & 11th Avenue, as well as plans to expand the Highline to 30th Street. Though, currently, that area feels a bit like Siberia.

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It's worth noting that Neiman Marcus sold to Ares Management and the Canada Pension Plan Investment Board for $6 billion last fall, which could help finance moves into new markets like New York.

A spokesperson for Neiman Marcus declined to comment on the report, writing, "We haven't made any such announcement so it's rumor and speculation -- upon which I can not comment."