Nordstrom will open its first New York department store in the bottom seven floors of a future Midtown skyscraper.

The Seattle-based retailer has spent US$102.5 million to purchase a plot of land that could become home to a 1,550-foot skyscraper, a height that would rank it among Manhattan’s tallest skyscrapers. The site, located at 225 West 57th Street just south of Central Park, has been planned by real estate…