FAO SCHWARZ CLOSING MANHATTAN STORE

The iconic Manhattan FAO Schwarz store is closing. The store’s owner, Toy R Us, made the announcement Friday, citing the high and rising costs of running the retail space on New York City’s pricey Fifth Avenue. The company said Friday it will close the 45,000-square-foot store July 15 and it is looking for another location in midtown Manhattan. FAO Schwarz is the oldest toy store in the U.S., as it has had a location in New York City since 1870. It moved to its current Fifth Avenue location in 1986. The location features a candy store, numerous specialty toy departments spread across three levels, and personal shoppers. It has been featured in several movies, including “Big,” where Tom Hanks danced on its large floor piano.
* It turns out – and get this – you can buy toys on line.
* The F in FAO stands for Effed.
* Gee, for a recovery, there sure are a lot of stores shutting down.
* If McDonald’s is down, everyone is down.
* I’m sensing that things have changed a little since this store first opened in 1890.
* Hey, if Abercrombie & Fitch has to close stores, nobody’s safe.
* Here’s where Donald Trump turns the whole thing into condos for billionaires.