Storecasting

Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.

Nordstrom is still interested in the former Drake Hotel site at 440 Park Avenue between 57th and 58th Streets, though the retailer is looking at other properties as well. "Nordstrom Inc. has signed a nonbinding letter of intent on the former Drake Hotel, bringing the Seattle-based retailer a step closer to securing a Manhattan location, according to real estate sources." But! "'This is not a binding agreement,' cautioned one source. 'They are still a long way from any deal being finalized. Nordstrom is looking at a bunch of different options with various developers.'" [WWD, subscription req]