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FAO Schwarz Homeless After 1633 B'way Deal Falls Through
Just a week out from inking a deal at Paramount Group's 1633 Broadway office tower, FAO Schwarz has found itself homeless yet again. The mega toy store, which vacated the General Motors Building last month, was in serious talks to lease 40k SF at the 2.5M SF Paramount Plaza ahead of the 2016 Christmas season. Now the space is back on the market, with its $4M asking price, Commercial Observer reports. Paramount still plans to build the 733 SF glass cube that was supposed to be at FAO Schwarz's entrance. There will also be room for storefronts to go in the space FAO was supposed to occupy. No word on why the deal fell through. FAO sister company Toys "R" Us is also homeless after deciding not to renew its lease at the Bow Tie Building. [CO]
