Brooklyn Macy's Could Become Apartments
Macy’s is contemplating selling its downtown Brooklyn store and building another nearby, according to a report in Women’s Wear Daily reblogged by Racked. Alternatively, the store could “redevelop the existing structure with apartment units on higher levels and a shrunken version of the department stores on the first few levels, á la the forthcoming Nordstrom,”…
Macy’s is contemplating selling its downtown Brooklyn store and building another nearby, according to a report in Women’s Wear Daily reblogged by Racked. Alternatively, the store could “redevelop the existing structure with apartment units on higher levels and a shrunken version of the department stores on the first few levels, á la the forthcoming Nordstrom,” as Racked put it.
Not long ago, the department store said it was evaluating what to do with the store, often criticized for being lackluster, now that downtown is gentrifying and attracting new retailers. Macy’s could realize $300,000,000 from a sale, estimated WWD. It owns a nearby parking lot and could build a new store there.
The store at 422 Fulton Street was built in 1930 in the Art Deco style. The building actually combines three different structures, so “floor and ceiling heights are not uniform throughout,” said Racked. It might be easier and cheaper to build new rather than renovate, sources speculated to WWD. Macy’s declined to comment to WWD.
What do you think Macy’s should do with the store?
Macy’s Rethinking Brooklyn Unit’s Future [WWD] GMAP
Is Macy’s Saying Goodbye to Its Downtown Brooklyn Flagship? [Racked]
Building of the Day: 422 Fulton Street [Brownstoner]
Photo by Nicholas Strini for PropertyShark
I love that store. So much less of a nightmare than Herald Square. But sure, more “luxury”–by which I mean 800 square feet 2 bedrooms with 2 bathrooms and at least the kitchen island trend is over–apartments would be fantastic on Fulton Street. You know what else I think we really need there? Another bank branch. Citi or Chase would be best. And then… maybe? Could we get a J Crew store? Maybe a Container Store too? I know I could shop from a catalog or go to Chelsea, but sometimes it’s so nice to be local.
This is terrible news. Just revamp the bloody place. Don’t relocate further down! Do NOT have the building replaced with apartments!! Not good.
I just don’t think Macy’s–or any other large department store–is a viable option anymore. Even the Macy’s in Herald Square is pretty awful, in my opinion. But I certainly think other retail is an option, at least on lower floors. I think upper floors should be offices and/or apartments.
I’d much rather see this turned into apartments than, say, have that giant awful new residential building built across the street from BAM.
When I moved to Fort Greene in 1979, Abraham & Strauss was a lovely store. Wonderful staff & stock in the midst of a virtually bankrupt New York City and of course its dependent Brooklyn.
There was also Gage & Tolner a wonderful white table cloth full service restaurant on Fulton St and Mays department stores as well as many other great stores along Fulton St and the side streets.
30 + years later with more than 30,000 additional employees ( than in the late 70’s early 80’s) in the immediate area, why these businesses cannot rise to the occasion I do not know other than as others have stated a complete lack of respect for Brooklyn. I have heard upper management at Macy’s refer to it as the Ghetto store. Macy’s made no effort when they opened for brief period a store in the Atlantic Centre, the store at Kings Plaza is an other disaster.
The store should not be sold out to yet more residential development, it is a downtown business district and there is a need for quality retail.
Macy’s obviously cannot do it, but I am sure another retailer could. The City should not allow it to be re-zoned for a Macy’s sell out.
They only opened the store in Atlantic Center because Macys/Federated Department Stores was stuck with the lease when they shut down Sterns. It was never meant to be a real store.
Yes, the service and selection are Godawful, but that’s an issue that management could address if they thought it would be worth it. And this is the time at which it’s worth it. Brooklyn has grown tremendously and will continue to do so. There’s no reason a decently run Macy’s won’t be able to turn a good buck either in that location, or in a nearby location OF SIMILAR SIZE.
Brooklyn is big enough for it’s own Macy’s, as are Queens, The Bronx and Staten Island. Kings Plaza is not Downtown Brooklyn. A BETTER Macy’s could contribute greatly to the Fulton St vibe and draw residents, tourists and workers who would support the surrounding stores as well.
I’m sorry if there’s a run on old buildings in upcoming neighborhoods that can be converted into luxury housing. But, I think that a smaller Macy’s, or none at all, could be an economical hit for Downtown Brooklyn, but it would definitely be a cultural hit that cannot be offset by a Parkchester sized Macy’s, a store that draws people off of Fulton St, or luxury housing.
bhinsider – time on the train is not the only consideration. I am legally blind and find the Herald Square store totally and completely overwhelming. And when I have only an hour or so and need to pick something up or make a return, I can do that at the Fulton Street location without having to dodge huge packs of tourists. Wouldn’t be able to do so at the Herald Square store – that would be a project requiring at least half a day.
We do need Macy’s here.
Completely agree. Apartments in that building could be really awesome. Macy’s should really just call it quits.
It barely takes 20 minutes to take the 2/3 to Herald Square. Go there. We dont need Macy’s here…