The demolition of the prominent Macy’s billboard at Broadway and West 34th Street has been postponed amid ongoing negotiations between Macy’s and the billboard’s owner, Kaufman Organization. Originally slated for demolition the weekend of June 5, the decision has been delayed as both parties discuss the future of the iconic sign.
Ed Hart, CEO of Kaufman, confirmed that discussions with Macy’s are taking place but provided no specifics. The billboard, shaped like a Macy’s shopping bag, has been a fixture for over 60 years. Scaffolding around the site was erected in early June to facilitate the planned removal, which has raised concerns among those who view the sign as a beloved symbol of the neighborhood.
Macy’s acknowledged the upcoming removal of the billboard, stating it is part of broader updates to modernize the area. The company emphasized that while the sign holds sentimental value, it is considered outdated. The city’s Buildings Department has issued a permit for the removal and for the installation of two new signs, with an estimated cost of $1.7 million for the entire process.
Real estate experts characterize the negotiations as a "game of chicken," highlighting a potential miscommunication regarding Macy’s public disclosure on the matter. The retailer has previously been protective of the billboard’s placement, having filed a lawsuit in 2021 to prevent the building owner from leasing it for advertising purposes by competitors.
Macy’s argues that a 1963 agreement with Kaufman stipulates that the billboard should not be used for any advertisement by rival companies, a claim Kaufman disputes.
Why this story matters:
- The billboard is a cultural landmark, and its removal symbolizes ongoing urban change.
Key takeaway:
- Negotiations are ongoing between Macy’s and Kaufman Organization, with potential financial and legal implications.
Opposing viewpoint:
- While Macy’s believes the sign is outdated, many community members view it as an iconic representation of New York City.
