“F. A. O. Schwarz, the legendary toy store on Fifth Avenue, will close its doors July 15, a victim of rising rents and ultraluxury retailing in New York City’s hottest shopping district. . . . But F. A. O. Schwarz, which has been a fixture in New York City for 145 years and a character in the 1988 Tom Hanks film “Big,” is actively scouring Manhattan for a new, less costly location. . . . When the store closes in July it will be the first time since 1870 that New Yorkers have not been able to shop at F. A. O. Schwarz.” Read more here.
