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

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!