New York City
United States,New York (NY),New York City,7th Avenue,The Manhattan at Times Square Hotel
F.A.O. Schwarz Fifth Avenue location back in 2012, located in the General Motors Building across from the famous Plaza Hotel closed last summer in July of 2015 but unlike in the past when a location in New York City closed, there was no new destination for the 150 year old retailer. F.A.O. Schwarz was bought by ToysRUs back in 2009, but like ToysRUs’s Times Square location which closed in December of 2015, the owner of the General Motors Building (which hasn’t been General Motor’s for a while now, they barely have a single floor of offices) was looking to greatly hike the rent when the lease was up so parent company ToysRUs made a deal to get out of the lease early, and end F.A.O.Schwarz’s reign as one of the World’s oldest toy stores. Their existence relegated to an online store. There has been talk that ToysRUs may seek another Manhattan location, but the likely location for a F.A.O.Schwarz boutique will probably be in the American Dream Mall in the New Jersey Meadowlands across the highway from MetLife Stadium when ToysRUs opens a new megastore within the Mall. Frederick August Otto Schwarz the youngest of three brothers was born in Germany and in 1856 immigrated to the United States, specifically Baltimore Maryland where his two older brothers were living. Six years later in 1862, the Schwarz Brothers opened their first toy retail establishment in Baltimore, ‘Toy Bazaar’. The successful venture spawned stores in Boston then Philadelphia. Frederick opened a ‘Toy Bazaar’ in New York in 1870 on Broadway, but his vision for the establishment differed from his older siblings. The youngest Schwarz truly loved toys and it was his vision to provide toys for children that were amazing and cool. The New York establishment was stocked with exclusive and specially crafted exquisite toys from Europe. Fredrick’s vision was a great success, so much so that by 1876 ‘Toy Bazaar’ opened a second New York City location in a much larger location. In 1889 Fredrick started to use the name FAO Schwarz in the advertisements in the newspapers, when the store relocated further uptown to 23rd Street in 1897, it was officially FAO Schwarz. Fredrick passed away in 1911, but his legacy lived on. In 1931 the FAO Schwarz store moved to 745 Fifth Avenue for 55 years until it relocated to its final destination at the General Motors Building where it remained until last summer. The store was a tourist magnet, but like ToysRUs’s Times Square location, the large percentage of visitors were lookers not purchasers. The truth is that as consumers continue to migrate more and more to online purchasing, in high price locales like New York’s Fifth Avenue, it will become more and more difficult to justify paying exorbitant rents for establishments that don’t bring enough to cover their basic costs. So these locations will become the home of high end exclusive retailers as is already happening. In this picture taken of the Fifth Avenue entrance, on the glass is a clear reflection of the historic Plaza Hotel which is directly across the street. Captured with Olympus Evolt E-510 using an Olympus Zuiko 14-42MM F3.5-5.6 lens, processed in Adobe Photoshop Lightroom. www.fao.com/home/index.jsp