Macy’s considering sale of Brooklyn flagship

New York – According to a report in today’s Women’s Wear Daily, Macy’s is halting the overhaul of its Brooklyn flagship as it contemplates selling the property for redevelopment.

The report cites unnamed sources regarding the Fulton Street location, which has grown in real estate value thanks to the area’s rebirth. Known as the Fulton Mall, the shopping district has gained a more upscale feel recently with the addition of stores like Banana Republic Factory Store and Nordstrom Rack.

Sources said the property could bring in $300 million for its 841,000 square feet and the article included speculation that it would be redeveloped as a condominium tower with a smaller Macy’s on the lower level.

Home & Textiles Today Staff | News & Commentary

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HTT August 2017

See the August 2017 issue of Home & Textiles Today. In this issue, we look at the Top 50 Retailing Giants Report, plus Manufacturing: Made in the USA gaining ground; International: Portugal ramping up exports; New products: NY Now home textiles introductions; Outlook: Commentary from H&TT's editors; and Planning: Trade show calendar.

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