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NEW YORK CITY-Nordstrom has paid $102.5 million for the site of its planned flagship store in midtown on West 57th Street.

The Seattle-based retailer will anchor Extell Development‘s residential tower at 225 West 57th St. and will occupy the first seven floors of the planned 88-story high-rise. Nordstrom owners Erik and Peter Nordstrom paid $102.5 for the land under their planned New York City flagship store, according to the New York Post.

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