Times Square Toys R Us to close today

Retailer still searching for a new Manhattan location

New York /
Dec.December 30, 2015 11:30 AM

The day has come. Toys R Us, that Times Square landmark, is set to closed its doors today.

The toy retailer will leave behind its 110,000-square-foot flagship store at Charles Moss’ 1514 Broadway at West 44th Street, with representatives citing rising rents.

The company decided in February not to renew its lease. The owner then made plans to divide the space and rent each level separately, Cushman & Wakefield’s Brad Mendelson told DNAinfo.

Asking rent for the building’s ground floor was to be set at $2,500 per square foot, with $350 per square foot asked for the second floor and $150 per square foot for the below-grade level.

Gap Inc. will take over the space, with plans to operate a Gap and Old Navy store there.

Toys R Us is “actively searching” for a new location in Manhattan, a spokesperson told DNAinfo. [DNAinfo]Ariel Stulberg


Related Articles

arrow_forward_ios
Gov. Andrew Cuomo signed the legislation to legalize adut-use cannabis last month. (Getty)
How legal cannabis will shake up NY’s retail landscape
How legal cannabis will shake up NY’s retail landscape
Triangle Junction at 2201 Nostrand Ave (Google Maps, Getty)
Aldi signs lease for 20K-sf store in Flatbush
Aldi signs lease for 20K-sf store in Flatbush
Clockwise from left: Flushing’s Main Street, City Point in Brooklyn and Bronx’s Fordham Road (Getty)
Manhattan’s retail loss is outer boroughs’ gain
Manhattan’s retail loss is outer boroughs’ gain
2 Bank Street (Google Maps, iStock)
Pizzeria featured in “Eat Pray Love” signs lease in Greenwich Village
Pizzeria featured in “Eat Pray Love” signs lease in Greenwich Village
Dollar General CEO Todd Vasos (Retail Industry Leaders Association, iStock)
Dollar General thrives amid retail apocalypse
Dollar General thrives amid retail apocalypse
(Getty)
Manhattan retail market awaits recovery as vacancies rise in Q1
Manhattan retail market awaits recovery as vacancies rise in Q1
(Getty, iStock)
McDonald’s to shutter hundreds of Walmart outposts
McDonald’s to shutter hundreds of Walmart outposts
The vacancy rate for regional and superregional malls is at an all-time high.  (Getty)
Mall vacancy rate hits all-time high
Mall vacancy rate hits all-time high
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...