Report: Macy's NYC flagship worth $3.3 billion
Macy's is sitting on billions of dollars of prime real estate.
The department store giant's real estate has an estimated value of $16 billion, according to a report by the New York Times, which cited an analysis by investment management and banking firm Cowen. By comparision, the retailer's market value is put at $6.4 billion
The Macy’s flagship, on 34th Street at Herald Square, is worth an estimated $3.3 billion alone, the report said. The store contains more than one million square of retail space.
Although Macy's says it has no plans to sell its Manhattan flagship, the company has sold off parts of all of some of its other distinctive buildings.
To read more, click here.
The department store giant's real estate has an estimated value of $16 billion, according to a report by the New York Times, which cited an analysis by investment management and banking firm Cowen. By comparision, the retailer's market value is put at $6.4 billion
The Macy’s flagship, on 34th Street at Herald Square, is worth an estimated $3.3 billion alone, the report said. The store contains more than one million square of retail space.
Although Macy's says it has no plans to sell its Manhattan flagship, the company has sold off parts of all of some of its other distinctive buildings.
To read more, click here.