Macy’s Historic Downtown Brooklyn Location Sold
Farewell to an Iconic Brooklyn Landmark: Macy’s Sells Historic Downtown Location
If you’ve recently left the Macy’s spot in downtown Brooklyn weighed down by holiday shopping bags, you might have done so for the final time. The iconic Fulton Mall building in New York, long home to the department store giant, was recently sold to United American Land, an established real estate firm with holdings across the city.
Macy’s, amidst plans to close 150 stores nationwide by 2026, has leased back the four-story, 440,000 square-foot property as a transitional step. However, the fate of the store itself remains uncertain. United American Land has hinted at plans to introduce family-friendly entertainment options like a Universal or Lego store to the Fulton Mall area.
The sale comes during a challenging period for the retail chain, as Macy’s CEO Tony Spring revealed intentions to shutter 65 stores post-holiday season. Recent hiccups, including financial irregularities, marred the brand’s image. An internal investigation exposed a discrepancy of up to $151 million in small package delivery expenses, allegedly concealed by a now-departed “rogue employee.”
Brooklynites, particularly longtime patrons, mourn the potential loss of Macy’s in downtown Brooklyn. Shoppers shared stories of decades spent perusing the iconic store, symbolizing a piece of the local neighborhood’s fabric.
The downtown Brooklyn Macy’s, residing at 442 Fulton St., stands as a last relic of the big department stores that once graced the avenue. Before becoming part of Macy’s in 1995, the building was home to A&S, abbreviated for Abraham and Straus. Ron Schweiger, Brooklyn’s Borough Historian, reminisced about the charm A&S brought to the community following the opening of the Brooklyn Bridge in 1893.
As Macy’s contemplates plans for the Fulton Mall location’s future, the store’s legacy hangs in the balance. Brooklyn locals like Angeline Davis lament the potential loss of a neighborhood staple, affirming its significance to the borough. Customers like Junior Stevenson, fuelled by nostalgia and tradition, echo sentiments about the unique place Macy’s holds as an institution in Brooklyn.
