You read it right. Iconic toy store FAO Schwarz is closing its final location in midtown Manhattan as a result of rising rents, Bloomberg reports.
The toy store has been a major tourist attraction in New York ever since the famous piano scene in the 1988 film “Big”. Toys R Us which owns the 153-year-old FAO Schwartz brand, said they are seeking another location.
“The company is committed to the FAO Schwarz brand and growing its legacy,” Toys “R” Us said in a statement to Bloomberg. “While we are sad to say goodbye to our current location, we are excited about the opportunity to create a new flagship location in New York City that will no doubt delight generations of children to come.”
The store is a major attraction for tourist around holidays and its creative huge stuffed animal displays. I personally hope they find a new home for the giant piano.