Rising rents in midtown Manhattan have claimed another victim: The F.A.O. Schwarz flagship store on Fifth Avenue will close its doors on July 15.
There has been an F.A.O. Schwarz toy store in New York City for the past 145 years; Frederick August Otto Schwarz opened his first store, Schwarz Brothers Importers, in 1870, and the toy paradise was featured in a memorable scene in the 1988 movie Big. At one point, there were 40 locations across the United States, but the Fifth Avenue store is the last one remaining.
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