Lord & Taylor Sells Anchor NYC Store for $850M – NMP
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Lord & Taylor Sells Anchor NYC Store for $850M

Oct 25, 2017
One of the nation’s most prominent retailers has sold its iconic New York anchor store

One of the nation’s most prominent retailers has sold its iconic New York anchor store.
 
According to a New York Times report, the 676,000-square-foot Lord & Taylor building on Fifth Avenue in Manhattan was sold by the retailer’s parent company, the Canadian corporation Hudson’s Bay, for $850 million to WeWork, an office-sharing operation. Lord & Taylor will rent out one-quarter of building, which will be transitioned into WeWork’s global headquarters in 2019.
 
Lord & Taylor was founded in 1826 by English merchant Samuel Lord and operated from its Fifth Avenue site since 1914. The store’s elaborate street-level display windows during the Christmas season has been a staple of New York’s holiday festivities.
 
There has been no announcement regarding whether Lord & Taylor stores around the country will be impacted by the sale of the anchor location.
 
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Phil Hall
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Oct 25, 2017
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