30 Rockefeller Plaza and Rocky Balboa (Credit: Tishman Speyer and United Artists)
FAO Schwarz is back, baby. More than two years after closing its doors at the GM Building, the legendary toy store inked a 19,000-square-foot lease at Tishman Speyer’s 30 Rockefeller Plaza.
The new store in the Art Deco tower will be a lot smaller than its old space at 767 Fifth Avenue, which spanned 61,000 square feet, Commercial Observer reported. The retailer cited the high rent as a reason why it left its home of 30 years.
ThreeSixty Group bought FAO Schwarz from Toys “R” Us last year.
Cushman & Wakefield represented the tenant. The new store will replace the NBC Experience Store, which is closing for good. [CO] — Konrad Putzier