Macy’s is about to sell five stories of their nine-story building at 422 Fulton Street and the parking garage at 11 Hoyt Street (aka 217 Livingston Street) to Tishman Speyer for $170 million, according to Crain’s. Macy’s will consolidate commercial operations to 310,000 square feet, spanning the basement to the fourth floor, and Tishman will fund extensive renovations for those floor. As for the five upper floors Tishman is purchasing, those will be converted to office space and five more floors will be added up top. In the end, 10 stories of integrated office space is planned.
YIMBY previously posted renderings of a tentative redesign and redevelopment set for the Macy’s store in Downtown Brooklyn, and now we have another submission from the project’s competition, though evidently this creation was not selected. The design comes from Leeser Architecture and would have featured two residential towers in addition to new and revamped retail space.
Late last year, Racked reported that Macy’s was rethinking its future in Downtown Brooklyn, with the company considering the addition of a second location, and the potential sale of both its current building and a parking…