Iconic FAO Schwarz Toy Store to Close Manhattan Location

By Justina Huddleston
May 2015

After years of rising rents, iconic toy store FAO Schwarz will be leaving its Manhattan locatio n, across from the Plaza Hotel, in July.

The 153-year-old brand was purchased by Toys 'R' Us in 2009. Toys 'R' Us assured the public in a statement that they are looking for a new location in Manhattan for the store, hopefully by late 2016. In the meantime, FAO Schwarz branded toys will be sold at Toys R Us, and the store's current employees, nearly 200 of them, will hopefully be transferred to Toys 'R' Us stores in the region.

FAO Schwartz has been in its current location for nearly thirty years, and the store became iconic after a scene in the movie Big. Tom Hanks' character dances across a larger-than-life piano on the floor of the store in a scene so popular, FAO Schwarz made it a reality. Kids and families have been making their pilgrimage to the store for years to dance on the piano and to look at their selection of world class toys.

A spokesperson for Toys 'R' Us said in a statement that "The company is committed to the FAO Schwarz brand and growing its legacy. While we are sad to say goodbye to our current location, we are excited about the opportunity to create a new flagship location in New York City that will no doubt delight generations of children to come."

For more toy industry news, see our news page.