Blink:
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.
Agreed Jim
ReplyDeleteNever 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
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