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Macy’s in Early Talks to Put an Office Tower Atop Its NYC Flagship

  • Retailer has been seeking to unlock value from its real estate
  • Herald Square skyscraper would be used by other companies
The Macy’s store in New York.
The Macy’s store in New York.Photographer: Victor J. Blue/Bloomberg
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Macy’s Inc. has held preliminary discussions with New York City officials about building a skyscraper on top of its flagship store in Manhattan’s Herald Square as the old-guard retailer seeks to unlock value from its real estate.

The company has floated plans for a 1.2 million-square-foot (111,500-square-meter) office tower that would be used by other tenants, according to a person with knowledge of the matter. Macy’s probably would push for zoning changes around its property to allow for the 800-foot (244-meter) building, which would bring an estimated 6,000 additional people to the area, said the person, who asked not to be identified because the talks are private. The plans are exploratory and may change.