The demolition of the famous Macy’s sign at Broadway and West 34th Street is currently on hold as the department store engages in negotiations with the sign’s owner regarding its future, according to recent reports.
Originally, the four-story red-and-white building was set to be taken down over the weekend of June 5th.
“We’re in discussions with Macy’s. That’s definitely true,” stated Ed Hart, CEO of the Kaufman Organization, which owns the building housing the sign that’s been there for over 60 years.
While he didn’t provide specific details, Hart mentioned, “There’s a lot going on.” Over the weekend of June 6th, scaffolding was prominently set up around the building, which is attached to Macy’s main store, encompassing the Sunglass Hut, a retail space that has operated there for many years.
Earlier this month, Macy’s confirmed that the sign’s removal was coming soon.
The retailer mentioned, “As the district continues to evolve, the current sign, while cherished, has become outdated and will be removed as part of a larger renovation by the sign’s owner,” in a statement to the Post.
However, there has been no immediate comment from the company regarding the delay.
The city’s Department of Buildings has issued a permit for removing the old sign and putting up two new ones. Records indicate that the removal and installation will cost Kaufman about $1.7 million.
Real estate experts have characterized the situation as a “game of chicken” between Macy’s and Kaufman, suggesting that recent public statements from Macy’s took them by surprise.
Signage holds significant importance for Macy’s.
The retailer previously filed a lawsuit against Kaufman in 2021, fearing that the real estate firm intended to replace the sign with Amazon advertisements once Macy’s lease for billboard space expired.
“To the naked eye, this sign is situated within a Macy’s department store and is iconic in its own right,” stated Macy’s in its legal complaint.
Macy’s argues that a contract from 1963 with the building’s owner prevents the landlord from leasing signage to competitors, a restriction the lawsuit claims lasts “in perpetuity.”
Mr. Kaufman contended that he wasn’t obligated by those terms. However, it appears the two entities have come to an understanding, as the shopping bags have remained part of the building for five years.
