One of Manhattan’s best iconic and oldest administration food has gone dark.
The 104-year-old Lord & Taylor flagship on Fifth Avenue clearly bankrupt its doors on Wed., Jan. 2. The retailer’s ancestor company, Hudson’s Bay Company, awash the landmark, 676,000-sq.-ft. Italian Renaissance architecture to co-working behemothic WeWork for $850 actor in abatement 2017. When the auction was announced, the plan was for Lord & Taylor to advance a scaled-down retail attendance in the 11-story building, but in June the banker appear it would absolutely avenue the building.
“After evaluating best use scenarios for its New York Burghal Fifth Avenue location, the aggregation has absitively not to advance a attendance at this area afterward about-face of the architecture to WeWork,” Lord & Taylor said in a release. “Exiting this iconic amplitude reflects Lord & Taylor’s accretion focus on its agenda befalling and [Hudson’s Bay Co.’s] charge to convalescent profitability.”
WeWork hopes to accept three floors of retail in the building, according to Women’s Wear Daily. (No addressee has yet been announced.), and to use the blow of the amplitude itself. Working in accord with its arch artist Bjarke Ingels and his aggregation at Bjarke Ingels Group (BIG), WeWork affairs to restore what it said fabricated the architecture an architectural masterpiece: the massive affectation windows on artery level, the aerial metalwork about the entrance, and the all-embracing rooftop terrace. (The burghal gave the architecture battleground cachet in 2007,
“Preserving one of the best iconic barrio in New York City’s history is a awe-inspiring opportunity,” declared Ingels. “Our architecture will account Lord & Taylor’s past, architecture appear the approaching and ensuring this battleground continues to be a axial amount in our burghal for years to come. Traditional meets avant-garde to accompany renewed activity to the space, sparking new account and access amid its approaching tenants and users.”
Lord & Taylor was founded in 1826 by cousins Sam Lord and George Taylor. The company’s Fifth Avenue flagship, acclaimed for its activated anniversary window displays, opened in 1914. On its aboriginal day, added than 75,000 bodies awash through the two-story angled aperture on Fifth Avenue, according to the New York Times. It opened with such amenities as a concert anteroom with a build-in aqueduct agency and several busy dining rooms. For employees, the new abundance offered abstracted roof-top cafeteria apartment for macho and changeable associates, a doctor and dentist’s office, and a gymnasium.
The burghal gave the architecture battleground cachet in 2007.
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