Macy's May Build Skyscraper Atop Flagship Store, Report Says

MIDTOWN MANHATTAN, NY — One of the most iconic retail stores in Herald Square may undergo a massive transformation into an office tower, according to reports.

Retail giant Macy's has begun informal talks with city officials to construct a massive office tower at the site of its West 34th Street flagship store, Bloomberg first reported. The skyscraper would be built on top of the existing department store and office space would be leased to other companies, according to the report.

A source with knowledge of the plan told Bloomberg that the tower could be as tall as 800 feet and have as much as 1.2 million square feet of space.

Manhattan Borough President Gale Brewer confirmed to Bloomberg that her office had met with Macy's in March and that any deal to construct a tower at the site would require a great amount of public investment from the company.

Macy's won't the first Midtown retailer to leverage its prime real estate to make up for a decline in brick-and-mortar shopping. Barney's is considering downsizing its footprint in its Madison Avenue and East 61st Street and Lord & Taylor closed its flagship store in 2018 after selling the building to WeWork for $850 million.

Read the full Bloomberg article here.