Tuesday, July 28, 2015

A Toy Story – The Final Chapter?

Being a native New Yorker, I was disappointed to learn that F.A.O. Schwartz closed its doors earlier this month at its iconic Fifth Avenue location.  Is this the final chapter for F.A.O. Schwartz?
Read On:
Not according to Toys “R” Us that has owned the store since 2009.  A spokesperson for the toy chain indicated they made a decision to vacate the location due to the rising costs of operating a retail location on Fifth Avenue in New York City.  Translation: The landlord Boston Properties was scheduling a rent increase, but bottomline fewer giant stuffed animals were going out the door to make the store profitable, since people preferred playing with the apps and touch screens at the Apple Store located nearby.

Is this the final chapter for F.A.O. Schwartz?  Stay tuned – Toys “R” Us indicated they are looking at a new space close to Times Square.  For me it will not be the same as stopping to look at the classic window displays of Bergdorf Goodman, another historic Firth Avenue store during the holidays, then crossing the street to browse at F.A.O Schwartz.

Hopefully, this is not the final chapter and kids once again will be able to play the giant toy piano.

1 comment:

  1. Agreed Jim
    Never knew Toys R Us even owned F A O.
    When it comes to New York Real Estate, money rules as other NYC Landmark Stores disappear