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Pour one out for one of the grand dames of the city’s high-end shopping scene: Barneys, which has been embroiled in bankruptcy proceedings for some time now, was “sold for parts” on Friday, according to the New York Times. The winning bidder was Authentic Brands Group, which—true to its very bland name—owns several well-known brands, including Juicy Couture, Nine West, and, improbably, the estates of Muhammad Ali and Elvis Presley.
While many of its remaining stores will close, with their remaining inventory sold at major dales, the brand’s flagship store at 660 Madison Avenue will remain open for another year, according to the Real Deal—albeit in a pared-down form. The current 275,000-square-foot space will downsize, though the details of what that might look like weren’t readily apparent. But in the future, according to the Times, it will become a four-floor pop-up with “entertainment that fosters creativity and community.”
The news comes nearly a year after the demise of another prominent New York City department store; Lord & Taylor’s Fifth Avenue flagship closed in January, after WeWork bought the building. (That deal is now being scrutinized in the wake of WeWork’s troubles.)
And in other news...
- Scaffolding is going up around the Flatiron Building, which is due to get a major exterior refresh.
- Part of DeKalb Avenue in Brooklyn was co-named for poet Walt Whitman, who lived in a modest home nearby; preservationists are still fighting to make that house a city landmark.
- In 2016, the owner of a tiny house on Weehawken Street said he would turn the property over to the Lenape tribe and help turn it into a prayer house. Three years later, the deal seems to be off.
- Several big-name developers are eyeing an Upper West Side property owned by the City University of New York, which has hundreds of thousands of square feet of buildable space—which “screams for condos,” according to one developer’s rep.
- State Sen. Jessica Ramos proposed a bill that would eliminate the cap on street vendors in New York City.
- A mass protest against the NYPD and MTA’s recent focus on targeting fare evasion took over parts of Brooklyn on Friday night.
- The city has issued a whopping 1 million tickets to lead-footed drivers since new speed cameras were rolled out in July.
- And finally, 52,000 people participated in yesterday’s NYC Marathon, which is truly one of the best days of the year. Congrats to all the runners!